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Mortgage Broker News | 28 Mar 2017, 08:15 AM Agree 0
In yet another mainstream media article about rising housing prices, brokers bare the unfair brunt of the blame
  • Appraiser | 28 Mar 2017, 10:19 AM Agree 0
    If you want to help curb the rising prices, go after the Real Estate Agents who bare ZERO responsibility other than collecting a fat commission check. Have the agents responsible to their clients for the entire transaction including the end sales price. You would quickly see the crazy multiple offers and unrealistic over asking sales prices drop dramatically.
  • Paul Mangion | 28 Mar 2017, 10:50 AM Agree 0
    The only way this will stop is to try to curb the speculation from many multi home purchasers. All the rule changes done so far really doesn't do anything to stop the speculators and only hurts the first time home buyers. Bigger taxes on single unit third, fourth and fifth home buyers might help slow this down. After all why would anyone invest in real-estate with such low cap rates unless they were speculating on a price increase? It is 1999 al over again! Clamping down on alternative lending will do nothing but hurt the most vulnerable.
    On another note I don't approve of my tax dollars funding sub rate broadcasting corporations with too many un informed opinions so maybe that would be a good place to start to make changes for the better.
  • LanceH | 28 Mar 2017, 11:16 AM Agree 0
    Hi Paul. I have to disagree with blaming speculators. Nobody buys a house at today's prices and leaves it empty. They live in it or rent it. There's a huge demand for both types of accommodation right now. The prov gov's caused this with their Places to Grow Act, the Greenbelt Act, Toronto Land Transfer Tax. Additionally might be the huge influx of ppl to the city and low interest rates.
  • RICK | 28 Mar 2017, 11:29 AM Agree 0
    Consumers are the one who dictates the real estate markets. Canada has done well with the real estate market and we should all continue to support it. The mortgage industry is in a good place as well. Overall debts is mostly on revolving credits. I believe that the government should step up and monitor the credit card companies that charges high interest rate and in some cases easy to approve based on credit score without looking into the consumers ability to repay. Most debts are driven by car loans and credit cards which are the real reason why consumers get into deeper debts. Therefore, it needs to be revisited, regulated, and change.
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