More bad press for Mattamy and new homes
... and 5 year fixed rates are going up again next week
Feb 2nd, 2018 7:10 pm
Feb 2nd, 2018 7:14 pm
Feb 2nd, 2018 7:28 pm
Feb 2nd, 2018 7:33 pm
Feb 2nd, 2018 7:37 pm
Even worse she is maxed out and can't come up with 30k for additional deposit after matte,y offered price reduction. Then she had an Investmemt property sale that didn't close in April and had to take s 200k price reduction.joepipe wrote: ↑ A bit of both... A lot of buyers from 2017 are about to learn a hard lesson in real estate bubbles and how ugly it can get when they burst....
The buyer in this article is down 100k and I'll bet its even worse by the closing date... If she can actually close that is... The appraisal will be a lot lower than what she bought for..
Feb 2nd, 2018 7:52 pm
Feb 2nd, 2018 7:54 pm
Feb 2nd, 2018 8:08 pm
Sure cause we had 5-6 months of 20-25%+ increase at the end of 2016 to April 2017 and a year later we are roughly at 10% correction and we are sensing the end of times here? About 50% up since 2015?
Feb 2nd, 2018 8:42 pm
Feb 2nd, 2018 8:49 pm
Feb 2nd, 2018 8:49 pm
Feb 2nd, 2018 9:29 pm
I just can't see how. Housing is simply too integrated with the economy where the government or the Bank of Canada will want to see it crash. It will bring the entire economy down with it. What they are trying to do now with the monetary policy and the lending policy is to engineer a soft lending. If house prices slip too much, it is going to affect consumer spending, employment and ultimately the GDP growth. If that happens, BoC will be dropping rates to prop up the economy, which probably means a lower Canadian dollar and could translated into additional foreign investment.
Feb 2nd, 2018 9:31 pm
LOL! i wonder if i posted that house already?The sale of an investment property in April, for more than $900,000, did not close when the buyer backed out. She recently sold it for about $200,000 less than the deal that fell through.
Feb 2nd, 2018 9:48 pm
RE Bull math...Sanyo wrote: ↑ Sure cause we had 5-6 months of 20-25%+ increase at the end of 2016 to April 2017 and a year later we are roughly at 10% correction and we are sensing the end of times here? About 50% up since 2015?
The lady in that article is gonna be just fine after she sells her rental and her own house eventually.
Feb 2nd, 2018 10:26 pm
I guess she lives on the street then... cause she sold her investment property. So she still has her own house to sell so she'll be fine. She just sold the investment property (at $700k, so either she profited huge or she makes a lot of money to be able to afford a $700k+ investment property when she bought it) so she got cash out of it. I dont know what she does, her income, etc. All she said was she was (not is, was) unable to come up with more money to pay towards the deposit, so who knows after just selling the investment property if she got money now. Who knows what her pres res is worth. Article is very wishy-washy.
Feb 2nd, 2018 11:20 pm
Feb 2nd, 2018 11:32 pm
Feb 2nd, 2018 11:35 pm
definitely a nice gesture. too bad these people couldn't come up with even 30k, when they bought a 955k house... smhdantey wrote: ↑ i actually give mattamy kudos for providing "relief" to the clients. no other home builders are even willing to do so and don't even remember anyone else doing that.
if they didn't and were hard about it, even less people would be willing to deal with them in the future.
and even less people will also be willing to risk doing assignment sales. at least carr understands that this goodwill measure will help to calm the market and not cause any "landslides".
Feb 2nd, 2018 11:43 pm
overextended. but i'm sure some will. i definitely would put that as priority instead of other "investment" avenues.
Feb 3rd, 2018 7:05 am
Market price was $100k higher at the time. It was phase 1 buyers willing to buy at that price that made the prices that high. They sold out in 1 day FFS! Line ups, fights, cops had to manage the crowd.