rahul: "Great Job"

As for " No-one asking same Q from buyers: what are they thinking when signing the papers? Accountability…..responsibility?


What's YOUR problem?

Are you going to do some moral policing?

I guess now it's high time to change the subject of the topic from "Home buying - 300K house or 400K house" to Home buying - 400K house or 500K house" and that says it all .

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Growing Old Is Mandatory ..Growing UP is Optional

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Originally posted by AshwaniG

I guess now it's high time to change the subject of the topic from "Home buying - 300K house or 400K house" to Home buying - 400K house or 500K house" and that says it all .

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I think time to change the title from 300k to 400k.I doubt if any builders are selling any new detached homes below 4,00,000 mark.Last week a friend camped out all night at Brampton (427 & Hwy 7) to to be the lucky 12 who were admitted in with security.Most of the customers were Indians from this group.The green logo bank even locked his rate for a $4,35 home with his single income of $65k plus student and car loans.They builder just upped his price by 15k in the last two weeks.

I am seeing signs in Markham (Laurier)where you need an appointment to see the sales associate and then there is a lottery to determine if you are a lucky home owner.

I am not sure why GTA behavior is different than rest of Canada or people are richer there as compare to western Canadians. Here in western Canada (Calgary, Edmonton, Greater Vancouver, Kelowna) listings are growing like crazy. We can see some foreclosure sign in Airdrie and Calgary’s outer communities.

BOC is moving interest rates on June 1...and some are expecting by Christmas, taking the benchmark rate to 3.25%. This Christmas will be interesting as we are moving to normal interest rates with new mortgage rules.

http://www.greaterfool.ca/2010/04/19/monetary-policy-2-2/#comments

If you’ve been thinking about selling you home, go now. If you recently signed an offer, walk. If you’re taking out a new mortgage, fix it. If you’re shopping for a house, stop it. If you recently bought a home in Vancouver in a bidding war and stumbled across this blog looking for a Grande Bold, follow the little dudes with the hats. They have something to show you.

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Originally posted by Jack109

I think time to change the title from 300k to 400k.I doubt if any builders are selling any new detached homes below 4,00,000 mark.Last week a friend camped out all night at Brampton (427 & Hwy 7) to to be the lucky 12 who were admitted in with security.Most of the customers were Indians from this group.The green logo bank even locked his rate for a $4,35 home with his single income of $65k plus student and car loans.They builder just upped his price by 15k in the last two weeks.

I am seeing signs in Markham (Laurier)where you need an appointment to see the sales associate and then there is a lottery to determine if you are a lucky home owner.

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Rahul,
I was at builder's offices the last three weekends in Brampton,Misissauga,Richmond Hill,Stoufville & Markham.From what I saw there is a definite corelation between Asian / South Asian community and the home buying spree in the above areas.The agents,sales associates,mortgage lenders,buyers are 90% Asians or South Asians.

It would be interesting to know if the activity is same in Aurora,Oakville,Maple,Vaughan,Woodbridge and Toronto etc (:-))

The best line by Danielle Park "You're supposed to pay down debt during a recession, not get further into it." She mentioned 25% correction. Gregory Klump has hard time to explain as most RE experts are having now.


http://www.cbc.ca/thecurrent/

April 19, 2010

Pt 2: Housing Bubble - New rules about mortgages come into effect across Canada this morning. They're meant to stave off a housing bubble. But at least one financial analyst says they may be too little, too late.

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I am here in North America ( 8 yrs in US) from last 12 yrs but my experience is Indians are pretty rich and financial smart community as Jews.

People fall into over price RE with low interests, 0/40, 5/35 than paying the current debt. Now they are sitting on over price debt/asset which can go in one direction with higher taxes, interest rates and newer mortgage rules. Most of these buyers can not take 10% hit even.

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Originally posted by Jack109

Rahul,
I was at builder's offices the last three weekends in Brampton,Misissauga,Richmond Hill,Stoufville & Markham.From what I saw there is a definite corelation between Asian / South Asian community and the home buying spree in the above areas.The agents,sales associates,mortgage lenders,buyers are 90% Asians or South Asians.

It would be interesting to know if the activity is same in Aurora,Oakville,Maple,Vaughan,Woodbridge and Toronto etc (:-))

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