I have always expected this will be the direction Canada is heading – The government will keep interest low and keep printing money.
Is there a problem here?
The results low interest rate (or perhaps even sub-zero rates) coupled with paper money flooding the market supported by empty air, are aplenty and far-reaching. Something we have experienced many times over in the past.
Devalued Loonies (half of greenback at one time) is not exactly Canadians should be proud of … It makes crossing the border a nighmare, taxes will be higher (comparatively, GST alone is like triple compared to say New York state’s taxes), inflation (hopefully not the super hyper one) is for sure one of the beasts released among us.
The best part is our friends in Ottawa simply have no clue how to deal the issue … At least for now.
|Huffington Post Canada|
The article below make it sound like our Government favor foreigners.
Is this true? I don’t think so.
If some can put down 50%, why do I care if the owner have the income (in paper) especially if one is new to land, or is able to convince me why monthly mortgage is manageable because maybe they just want to flip the property, or perhaps the property can generate income eg. rent.
I would rather give the mortgage to the “aliens” rather than a wage earner whose debts already up to his noise. Who cares if this guy make half a $ million a year? His income is only as good as his job – he is very likely to loose the job when bad times hit (while the foreign “alien” who owne the real estate will always have the 50% down payment to pay the bank).
|The Globe and Mail|
If the City is still broke when real estate is flying sky high,
It simply means our place is run by crooks and robbers. Expect disaster ahead … Hopefully this guy is right,
|The Motley Fool Canada||–|
But you never know, maybe Motley Fool just invested in some Canadian REITs? So, we could the real fools if we believe what they say …?
God bless Canada.