PBS NewsHour 20070726 Housing Makes Bad DOW Day
By Guest - Posted on July 30th, 2007
Tagged: 40 year mortgages
• 40 year mortgages
• debt problems
• debt problems
• housing market
• housing market
• isolation
• isolation
• uncertainties
• uncertainties
Cheaprealty presents:
Breakdown of the financials in the housing stocks, and how fears about these are connected to the US sub-prime uncertainties.
A weak housing market is the problem that is making sub-prime a problem in the US, sub-prime is not a problem in isolation....
The highest number of vacant homes ever in history?
Price of housing may fall more than ever before?
Everything will be just fine?
Canada can evade these problems, because we don't have the same kind of mortgage and debt problems?
Let's introduce 40 year mortgages right now?
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What about the ads for 100% mortgages. For people that ie) can't save money or are too young to have saved money. I was shocked to see an ad for Scotia Bank at the movies this weekend - you are Richer than you Think and it should a really really young couple buying a condo. %100 mortgage???? Also, I must say not one house over $800,000 sold this weekend. Not one. It has been like this for the past 2 months. I look at Oak Bay, Uplands, Cordova Bay, Broadmead etc. etc. etc.
I know - yet supposedly we are more conservative and we can ride out financial trouble because of our lending system is not ex[posed to the same kind of pressure on a downturn...
...or maybe it is.
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