Here in British Columbia the gov’t will borrow first time home buyers the downpayment interest free for 5 years and then it is in with the mortgage and whatever the rate is 5 yrs from now the extra hit starts. Recipe for disaster ?
Odd how the gov’t always wants affordable housing but do not see that they are the problem.Easy new buyers enter the market pushing the prices higher. My take is the rates will rise, even 1 1/2% will be enough to break the housing market as there is not enough paycheck to cover. Foreclosures will fester the neighborhood and if ya think your house that is paid off is worth ‘x’ , better think again. Buffet already bailed out one high risk lender from collapse not too long ago. Dollar up ? could happen, cheap swing trade now and/or later.
I completely disagree that we’re going to see a stronger dollar. Time will tell.
To see a stronger dollar all that needs to happen is for European banks to buckle, that doesn’t seem to far of a stretch does it?
Here in British Columbia the gov’t will borrow first time home buyers the downpayment interest free for 5 years and then it is in with the mortgage and whatever the rate is 5 yrs from now the extra hit starts. Recipe for disaster ?
Odd how the gov’t always wants affordable housing but do not see that they are the problem.Easy new buyers enter the market pushing the prices higher. My take is the rates will rise, even 1 1/2% will be enough to break the housing market as there is not enough paycheck to cover. Foreclosures will fester the neighborhood and if ya think your house that is paid off is worth ‘x’ , better think again. Buffet already bailed out one high risk lender from collapse not too long ago. Dollar up ? could happen, cheap swing trade now and/or later.