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Old 04-16-2012, 01:35 AM
 
3,060 posts, read 7,159,413 times
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Quote:
Originally Posted by LEFTIMAGE View Post
Generational wealth transfer. Largest in known history.
What's your source for that information? (Not saying I disagree - I am just curious!)
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Old 04-16-2012, 03:15 AM
 
1,269 posts, read 3,416,722 times
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We have both of those, rich parents and foreign money from over 90 countries in the case of Vancouver.

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Old 04-16-2012, 11:54 AM
 
Location: Vancouver BC Canada
1 posts, read 606 times
Reputation: 10
Yes mortgages are very expensive in today's economy, too bad we don't take Japans mortgage concept

Have you considered looking at a ship container park model as an affordable housing option?

Please check profile for more information.
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Old 09-09-2014, 05:34 AM
 
Location: Etobicoke, ON, Canada
1 posts, read 388 times
Reputation: 10
Quote:
Originally Posted by sunshineleith View Post
There's a mortgage thread here: mortgages

If you search "mortgage" in the Canada forum you'll find more threads dealing with this.
Collect the information on Mortgage Rates in Canada on Rateshoppe.ca and search for the right mortgage for your unique needs is that the interest rates tend to be lower, but options are limited.
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Old 09-15-2014, 11:38 PM
 
873 posts, read 814,552 times
Reputation: 554
Quote:
Originally Posted by qwerbilzak View Post
I don't understand how Canadians (at least folks in the GTA and Vancouver, etc) buy homes. If you look at the median income numbers and the median debt service on home prices, given current interest rates and the amortization schedules on offer at the big banks (the typical Canadian mortgage matures in 5 years or less), it just doesn't add up.

However, people are buying homes like crazy, so obviously I'm missing something. But I have no clue what.
Many people who "can't afford it" buy them anyway and the banks let them. Those stories of "a bank will never give you a mortgage that high with that salary" are not always true.
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