Wednesday, March 25, 2015

Vikram Mansharamani Out of Town [COUNTRY] expert

Another the sky is falling lecturer

Yale lecturer latest to warn of a Canadian housing bubbleCanadians are resorting to risky strategies in order to finance home purchases and fuelling the bubble in the process. That’s the warning from Yale lecturer Vikram Mansharamani

YET Another quarterback from the United States that foresaw the collapse of housing and the theft of BILLIONS in 2008....

How did that work out with No job, stated income loans; debt with balloon payments, short sales. A shadow inventory of homes held by Banks in Foreclose. Cities with unpaid water bills and taxes.

UMMmmm   NONE of that exists in Canada.   We have credit criteria that is strict based on historic sales and income/ appraisal. (CHMC insured loans)  No Tax deductibility on a principal residence encourages debt reduction on mortgages.

Could the market soften?   Sure!    Are people continuing to arrive in Canada?   Why?

Because no matter the challenges our Canadian Economy is robust.

Investing here?   Rates are 2% Variable and 3% fixed for 5 years
Vacancy rates are near 2% for rental property.

Buying?  You should be;  but make a prudent decision.
For me; Its all about the numbers not the emotion

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