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Mortgage Broker News | 11 Dec 2014, 11:11 AM Agree 0
Now that the Bank of Canada has jumped into the overvaluation discussion, brokers have weighed in on the organization’s methods and accuracy.
  • Mortgage Delivery Guy | 11 Dec 2014, 12:11 PM Agree 0
    Over value range of houses of 10-30%. Its too large of a spread. Don't you think?
  • RC in BC | 11 Dec 2014, 01:30 PM Agree 0
    You have 2 distinct markets in Vancouver. Offshore buyers and local buyers. The local buyers market, based on rents, is undervalued. For example, you can purchase an older, 3 bedroom town home in Port Moody, about 40 minutes from downtown Vancouver, for about $320,000. It rents for $1750 per month. With zero down (if you could do it) the rent would cover the mortgage and all other costs including taxes and management. Normally, you would require 25% down or more to cover costs in the Vancouver local market (I've been involved in it since 1986). That townhouse should be valued over $400k. Good time to buy in Vancouver!
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