RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Grant's Conference TuesdayI realize that, however, B20 only affects UNINSURED mortgages. And there is also a theory (brought up by a guest on bnn yesterday that it could cause a "rush" of people into making deals before the rules come into effect. My point is that there are a lot of moving parts here.
The jobs data this morning was positive: The news banner on BNN just said: ONTARIO IS BOOMING. As long as people keep their jobs, mortgage default risk will remain low and poor underwriting headlines have become an old chapter in the hcg story.
Good discussion, thanks
Tater78 wrote: HCG is regulated by OSFI, B-20 affects them.
TraderBen wrote: xBlitzkrieg wrote: too bad the market is going to keep going up.
it certainly is looking that way. Even if the B-20 rules come into affect next year, it may just send more business to sub prime lenders if people don't qualify with the big five. No one knows for sure how this is going to play out, but I don't think its in the government's interest to crash housing. But we certainly didn't see the flood of listings that a lot of doom and gloomers were anticipating in September. Nationally, price is still going up modestly.
I live in Vancouver and I see a lot less of the fear mongering real estate doom and gloom media stories than I did a year ago. I actually feal sorry for anyoe who listened to Cohodes in July 2016 when he said on BNN to "SELL and RENT and BUY THE U.S. DOLLAR". That person that took that advice back then would have lost big time if they had to pay rent for the lasst year and the loonie has gone up 7%. But no one can get all of their calls right and he certainly did get the bank run call. Warren stepping in tho' .. well that had to be some whopper of a surprise that no one expected.