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Mortgage Broker News | 20 May 2016, 08:15 AM Agree 0
A unique new project hopes to connect potential buyers in one red-hot market with owners willing to sell below asking – and the cause could use a mortgage broker
  • David | 20 May 2016, 11:10 AM Agree 0
    Good Luck with that!!!
  • Romesh | 20 May 2016, 11:37 AM Agree 0
    The way bidding war is going on in Toronto, the average home buyer is totally confused as to what should be a good bidding price on a property. Multiple bidding is wastage of time for everyone and leading to frustration for prospective buyers and real estate agents alike.
    We are in the age of technology, I wonder if there is a possibility of someone starting a forum where sellers and buyers can list their stuff and meet directly. The real estate brokers be brought into play only for paperwork.
  • Anthony C. | 20 May 2016, 12:21 PM Agree 0
    God bless those who would support this notion, but really now...its nothing more than a load of altruistic crap... I do not fault the lawyer or his clients or the ideal behind the premise mentioned in the article, but I have a sick feeling in my gut that we are past the point of decency and humanity in today's world, albeit for those who think they can do some good.

    Who few are going to take money off the table and out of their pockets, when piggish foreign capital is intent on paying full pop and then some while parking it in Canadian real estate, for the sole purposes of diversification, capital preservation and tax avoidance...?

    These launderers of capital could not care one iota if their greed causes valuations to sky rocket and such, pricing the average Canadian out of the market. Even were there a market correction, this forgone conclusion has no bearing on their primary motivations....on a couple of million, they are willing to take a 10-20% hit...so why on earth don't we enforce an immediate "foreign-sourced investor tax" on all those who are doing their laundry here?

    There is some political mumbling about tax enforcement, but we know that's not to happen any time soon, if at all.

    London, Rome, Paris, Hong Kong, Shanghai, Taipei, Moscow, New York, Miami, Toronto, Vancouver...the list is long...and the common denominator is that the powers to be thought it a good idea to allow unrestricted foreign capital to buy up as much real estate which they could get their hands on, thus stimulating the local markets...well the reverse happened, money does indeed flow uphill and not down, and ownership of what were once metropolises for its citizens are becoming and have become havens for the wealthy...good luck to us all...that's my two cents.
  • Blair Anderson | 20 May 2016, 02:00 PM Agree 0
    You might be on to something Romesh.
  • The truth | 24 May 2016, 10:57 PM Agree 0
    Good luck with that. Raise the minimum down payment and limit their purchases for foreigners . Max 2 properties and they have to stay in Canada minimum 6 months.
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