Canadian Banc Corp T.BK

Mortgages

[Donwaan]

With millions of mortgages coming due, finance minister expects banks 'to work with' Canadians. New mortgage charter isn't binding but Freeland believes lenders will follow it. https://www.cbc.ca/news/politics/canada-mortgage-renewal-freeland-1.7040513

[amxjavelin]

Sad the pickle many have put themselves into when taking out these massive loans and maxing out . Now the goverment wants you to extend the loan delete stress tests  etc   LOL  This does not end well i think  How many here were around the the crash of 1981 when 2 to 3  years after that many high end houses lost around 50 percent or moe of their value in some areas

[itsthehitman]

FYI...had a 17% mortgage in  the19 70s....5 yr investments paid up to 20% yr. Those days will never come back...it was outrageous. 

[amxjavelin]

FYI   Sure they will come back were on our way already  The  days of free money is over 

[kurtwalter]

But inflation was at 12% or thereabouts

[amxjavelin]

Inflation was not that high in Canada @kurtwalter ?.  Gasoline was more  affordable compared to now,  homes prices  were also compared to wages back then. Point im making only is: buying a vehicale was  more affordable compared to now  now many  people  lease/rent a vehical never owning ?  Interest rates doubled on less then 4 yrs, late 70's to