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Mortgage Broker News | 27 Nov 2014, 07:22 AM Agree 0
Brokers aren't sold on a big bank report purporting more affordability in the housing market.
  • John Martin | 27 Nov 2014, 09:32 AM Agree 0
    Home ownership more affordable?? Maybe for the RBC economist who wrote this nonsense. Nothing more further from the truth. Many people are struggling. Love how these people are able to predict things six months and some times years in to the future. Much like the weather reports. Which are very seldom right. Economists ?
  • Mitch Thibodeau | 27 Nov 2014, 10:10 AM Agree 0
    It's interesting that the article mentions a warning of interest rates rising next year. Experts/Economists have been saying this for the last 4 years and we have yet to see rates rise. It's hard to know what to believe anymore.
  • Dustan Woodhouse | 30 Nov 2014, 03:43 PM Agree 0
    The statement made is not that housing is 'afforable' but tht it is 'more affordable', i.e. the carrying costs of home ownership relative to income are statistically better than the year before. The difference is small, and in any event reaction to such headlines is always anecdotal based upon the lens of the readers own personal circumstances.
    I have heard two mantra's from the media all my homeowning life.
    1. Rates cannot get any lower - 8%+ in 1994 was seen as something to lock into long term - Wow, under 10%, very exciting times.
    2. Home Prices cannot get any higher. $160,000 for a detached home 30 minutes from downtown Vancouver?!?! Are you sure, seems like a bubble...
    Same old stories, same old realities.
    The cost of owning a home will rise in the future, as will the purchase price.

    Interest rates...I think still some time before the broken records of the past 20 yrs are accurate.
  • Mortgage Guy Geoff | 01 Dec 2014, 09:09 AM Agree 0
    Perfectly said Dustan. Like Yogi Berra said "its like Deja Vu all over again."
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