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Mortgage Broker News | 11 Jul 2013, 12:00 AM Agree 0
Brokers doubt higher interest rates here will have the same effect as in the U.S., where potential homebuyers are backing off in greater numbers.
  • Paolo Di Petta | dipettamortgage.com | 11 Jul 2013, 08:31 AM Agree 0
    Roslyn's statement makes no sense.

    “Canada and the U.S. are two different markets; what’s happening there doesn’t necessarily dictate what will happen here.”

    Sadly, that's not the case. No man is an island. Our Mortgage and Real Estate market is very tied to the global market. In fact, it's impossible to deny that if you're going to make the "foreign investment" argument...which she does in the next quote:

    "...significant foreign investment activity in the Toronto and Vancouver markets, and that has a stabilizing effect on the market.“

    Which is another fallacy - the fact is, foreign investors are looking for 2 things - security and ROI. The second one of those disappear - or a better opportunity becomes available, they're out - after all, they're investors, not occupants.

    I cover this and other fallacious arguments on one of my blog posts a while back: http://mrt.gs/5smokescreens
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