tag:blogger.com,1999:blog-5936637281134795592.post5968872504895954246..comments2024-03-08T08:55:52.985-08:00Comments on Whispers from the Edge of the Rainforest: Time for the government to get out of the mortgage game?Unknownnoreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5936637281134795592.post-1076167301940505252011-01-15T05:16:18.769-08:002011-01-15T05:16:18.769-08:00this will make you shake your head 8 1/2 minutes i...<a href="http://www.youtube.com/watch?v=fAAgIkRkhv0" rel="nofollow">this will make you shake your head 8 1/2 minutes in</a>Anonymoushttps://www.blogger.com/profile/12109140436878091821noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-34745469138695687712011-01-15T05:03:00.281-08:002011-01-15T05:03:00.281-08:00nice work whisperer
the housing bubble is a slow ...nice work whisperer<br /><br />the housing bubble is a slow motion train wreck that is politically impossible to stop.<br /><br />The warnings are given but little is actually done as high-risk loans are fueling prices and if that cat-nip is taken away, the party is really over.<br /><br />I really do feel that no political party has the willpower to stop the debt bubble as the hit to our economy would be huge.<br /><br /><br /><br /><a href="http://www.ctv.ca/CTVNews/Canada/20110114/condo-rules-110114/" rel="nofollow">Condo prices are going to take a hit</a><br /><br /><br />this is going to get uglyAnonymoushttps://www.blogger.com/profile/12109140436878091821noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-35774422922105220152011-01-13T06:08:16.446-08:002011-01-13T06:08:16.446-08:00Agreed.Agreed.Whispererhttps://www.blogger.com/profile/03524022285962626228noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-43749159814573878202011-01-12T21:49:47.194-08:002011-01-12T21:49:47.194-08:00HI I enjoy your blog and think that you do a good ...HI I enjoy your blog and think that you do a good job in writing it.<br /><br />Another reason the banks are worried about Canadian debt is the line-of-credits being taken out on inflated houses prices. This debt is not secured by the government like the mortgages are but just against the house. If the housing market corrects and/or interest rates rise the "safe" Canadian banks could be facing losses from people no longer able to afford the line-of-credits defaulting and the banks wind up with a house worth less than the debt they are owed.<br /><br />I fell that we have not avoided what has happened to the Americans just delayed it by a few years. Maybe the government can keep the real estate market inflated for a while longer but once the mania wares off there is going to be plenty of pain to go around.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-36566850662282260242011-01-12T20:05:03.797-08:002011-01-12T20:05:03.797-08:00Important point. Thanks for the comment.Important point. Thanks for the comment.Whispererhttps://www.blogger.com/profile/03524022285962626228noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-79982548437841632562011-01-12T17:56:17.704-08:002011-01-12T17:56:17.704-08:00You missed one other point in the article... there...You missed one other point in the article... there is actually DISINCENTIVE for the banks to sell conventional mortgages!<br /><br />Think about it... you can either:<br /><br />A) Sell a conventional mortgage, which makes the bank less money, and require more time to get through the paperwork since the internal bank employees need to figure out the risk/insurance/etc.<br /><br />or<br /><br />B) Sell a high-ratio mortgage, spend zero time assessing the buyer's credit, get more money from the buyer, and flip all of the risk over to CMHC.Anonymousnoreply@blogger.com