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Mortgage Broker News | 27 Oct 2015, 08:15 AM Agree 0
The condo picture in Canada’s hottest market is bright despite data that seems to point to the contrary; and one broker hopes this will help lead to more liberal lending for those types of properties
  • Doug p. | 27 Oct 2015, 10:17 PM Agree 0
    Trying to play down or hide the clear evidence of a major housing correction is verification that one exists and is imminent. The easy credit, zero interest rate addicts in our economy are indeed in full out denial of the obvious. Easy come easy go. Central banking has created a massive bubble.
  • Tom Y. | 31 Oct 2015, 08:48 AM Agree 0
    As someone working in new condo sales, I find the unsold units are not due to lack of demand but often due to the undesirability of the unit. Buyers have become very adept in judging the quality, functionality, exposure and layout. The building location has a huge impact on sales. I bet you that the many unsold units are not in the best of locations. In other words, buyers let their dollars do the talking. Also, the rates are historically low but nowhere near zero. It's actually quite difficult to obtain a mortgage. Lenders are performing their due diligence when approving mortgages. I know because I have tried for my own principle residence. Even if wanted to invest in more condo units, I can't.
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