If you bought a 320k townhome in Ottawa the year Trudeau got elected you would have made 300+ grand by now. When liberals gain power buy assets. They are so incompetent the cost of living always goes straight up when they gain power. Learn to take advantage of others Incompetence
I think the idea is to get people into the market so they can start building equity, and that their earning capacity improves as their careers progress. The expectation would be that they will increase their payments as time goes on and the amortization period will change each time they renew. Also, having a long amortization to lower the monthly payment isn't a bad idea, especially when just starting out. It leaves some breathing room when times are tough, and there's nothing to prevent the home owner from increasing their monthly payment or make lump payments that go directly toward the principal. However you have a very valid point. If the homeowner only ever makes minimum payments then yes it amounts to extended debt and more interest for the banks.
So basically you are asking for interest for 5 extra years? This is the solution Mr. Trudeau and finance minister is coming with ? They surely know their maths.
30 years amortization means more interest to be paid to the banks. Less down payment but in the long run py the bank ur hard-earned money. Stop draining your Hard earned money and smarten up.
Keep in mind, 25 vs 30 yr AM, rates will be higher on the 30 yr. The homebuyers are ALWAYS looking for the cheapest rates and might not understand why they can’t get the cheapest one. We have done an AWFUL job educating property purchasers that there is more to a mortgage than just rates that they need to and should be considering.
Whoever pays such a price for these houses, must be insane, a house costs 20 years after the tax income of a middle-class family. Instead of curing the problem, give buyers 30 years mortgage aspirin.
We had 40 year amortizations in the mid to late 2000's until 2008 I believe and you could even buy with no money down. Sounds like a great idea to get first time buyers into the market, but all it did was feed the frenzy of fear of missing out and it caused prices to go even higher. They took away the longer amortizations and went back to the standard 25 year amortization. This is just another gimmick to prop up the real estate industry. Best to put a minimum of 20% down so you do not have to pay the high ratio mortgage insurance fees.
After corporate holing groups bought up all the expensive real estate, no way will the government will let the rich holdings lose value.Just change the rules to scrape more from the working class.Canada is heading for a Brazilian social structure Socialislm for the ultra rich.
Why is the government trying to throw the new home buyers under the bus? I don’t see how this favours them. And in fact this is only restricted to only new homes. God bless our leaders for making life so much unaffordable.
It's totally a joke, and I feel like mocking..."The time to save up"... we don't have the salary Mr. Trudeau or Ms. Christina Freeland, we live by day with the price of fruit, food, gasoline, and on, and on!..Our vacation is not in Torfino, which is in dollarama being canned of food forget about activities like swimming or movies or ice cream . It's ridiculously expensive 😫 😢😢😢😢
I've got a crazy idea. Let the market correct. Let home prices track wages. Crazy I know. Anyways, 100% of the time when the treasuries are inverted we have gone into a recession. And treasuries have been inverted for a record period now but threatening to go uninverted soon. So good luck selling in a recession with home prices through the roof.
You should never put sunglasses on top of your head, because you can distort the shape of the frame and make them loose over time. Plus, it looks dumb on indoor a TV interview.
What happened to the 99 year amortization? 😂 the stuff king charles does in the uk. 99 year leases of land. No wonder 90% of all of canadas land is crown land owned by a uk king who does nothing for us living in the other 10% on canadas land. Lets get to the root of problem. King charles wont let us use 90% of our land in this country..
@@humorss except you can't. Squatting (even the reasonable kind, on vacant land) has been legislated away so the parasites hoarding all the land can eventually sell it to the highest bidders while the rest of us live in tents (if we're lucky).
If you are playing the "get my payment as low as possible" game....you can't afford it.
This
Right you are
Make a LAW, 3 home per-person, and no company can use homes as investments. Everything will be fixed.
@@TrrripS What about rentals. Who can buy a 6-plex? Who can own a 30 unit apartment building.
The prices of homes are unrealistic. It is modern era of leasing in form of mortgage now.
30 yr mortgage doesn’t help affordability. It enables you to pay more for the same thing. Extending credit variables leads to higher prices
Well she is the COO of a mortgage company. Steel from the poor and give to the rich!
More interest for the banks? Fuck no
Make a LAW, 3 home per-person, and no company can use homes as investments. Everything will be fixed.
Worse than the Mafia.
Rules to help builders and banks.... very little to home owners
Applying a bandaid to a broken leg
meaning way way more interest will be paid!!!! dont do it
Get on the bus is always the priority
I'd rather live in the forrest then risk a 30 year mortgage
If you bought a 320k townhome in Ottawa the year Trudeau got elected you would have made 300+ grand by now. When liberals gain power buy assets. They are so incompetent the cost of living always goes straight up when they gain power. Learn to take advantage of others Incompetence
I’m thankful everyday I was able to buy my first townhome a year before Trudeau and his insane lefty friends showed up.
Next we will have 50 year mortgages so that your grandkids can takeover after you pass away
Just like the UK
Make a LAW, 3 home per-person, and no company can use homes as investments. Everything will be fixed.
Didn't they take away the 30 year amortization bc of issues of what happened in the states.
@@Cutlerypotato I don't have one. Had to pay for food.
Means.. more money for the Banks.
You will be in debt for life.
I think the idea is to get people into the market so they can start building equity, and that their earning capacity improves as their careers progress. The expectation would be that they will increase their payments as time goes on and the amortization period will change each time they renew. Also, having a long amortization to lower the monthly payment isn't a bad idea, especially when just starting out. It leaves some breathing room when times are tough, and there's nothing to prevent the home owner from increasing their monthly payment or make lump payments that go directly toward the principal.
However you have a very valid point. If the homeowner only ever makes minimum payments then yes it amounts to extended debt and more interest for the banks.
This is going to screw everything up even more
So basically you are asking for interest for 5 extra years? This is the solution Mr. Trudeau and finance minister is coming with ? They surely know their maths.
Know their math ? Tell that to mister "the budget will balance itself"
literally zero first time home buyers are buying new
What a shame. House is a basic need. In this Country you will work like a Donkey your whole life to afford your Basic need.
Or dont work and live in a tent lol
More debt more misery... thank you Justinder Trudie
Useless useless
30 years amortization means more interest to be paid to the banks. Less down payment but in the long run py the bank ur hard-earned money. Stop draining your Hard earned money and smarten up.
Keep in mind, 25 vs 30 yr AM, rates will be higher on the 30 yr. The homebuyers are ALWAYS looking for the cheapest rates and might not understand why they can’t get the cheapest one. We have done an AWFUL job educating property purchasers that there is more to a mortgage than just rates that they need to and should be considering.
Whoever pays such a price for these houses, must be insane, a house costs 20 years after the tax income of a middle-class family. Instead of curing the problem, give buyers 30 years mortgage aspirin.
Next generations should consider leaving to another country.
How many single Punjabi man renters can be crammed in the least square footage?
We had 40 year amortizations in the mid to late 2000's until 2008 I believe and you could even buy with no money down. Sounds like a great idea to get first time buyers into the market, but all it did was feed the frenzy of fear of missing out and it caused prices to go even higher. They took away the longer amortizations and went back to the standard 25 year amortization. This is just another gimmick to prop up the real estate industry. Best to put a minimum of 20% down so you do not have to pay the high ratio mortgage insurance fees.
After corporate holing groups bought up all the expensive real estate, no way will the government will let the rich holdings lose value.Just change the rules to scrape more from the working class.Canada is heading for a Brazilian social structure Socialislm for the ultra rich.
Does all three rules apply? What if it’s not prebuilt?
Builders now offering half-price mortgages, but still no takers= people dosent trust Trudope....
Why is the government trying to throw the new home buyers under the bus? I don’t see how this favours them. And in fact this is only restricted to only new homes. God bless our leaders for making life so much unaffordable.
It's totally a joke, and I feel like mocking..."The time to save up"... we don't have the salary Mr. Trudeau or Ms. Christina Freeland, we live by day with the price of fruit, food, gasoline, and on, and on!..Our vacation is not in Torfino, which is in dollarama being canned of food forget about activities like swimming or movies or ice cream . It's ridiculously expensive 😫 😢😢😢😢
The solutions for the housing crisis these people come up with sound more like sketches Comedy Central or SNL
Wow she's so off 800k mtg would be 4500 per month first time buyers will not take this deal
Why they so desperately wanting so much control?
How is this a good thing??? More money for the bank lol what a clown show and this is being presented like a solution and relief for the consumer
What a joke!! This program is to help first time buyers right?! Gotta be a first class dummy to fall for this crap!😂😂
Just pay cash then
Make a LAW, 3 home per-person, and no company can use homes as investments. Everything will be fixed.
Hey if you are reading this and thinking of buying a home, wait 2 more years. Market has dropped 20% so far. It will drop another 20.
I've got a crazy idea. Let the market correct. Let home prices track wages. Crazy I know.
Anyways, 100% of the time when the treasuries are inverted we have gone into a recession. And treasuries have been inverted for a record period now but threatening to go uninverted soon. So good luck selling in a recession with home prices through the roof.
Tax empty store fronts!
My realtor told me to put my parents and use fake income for a 30 year mortgage. To the MOONNN!
What first time homebuyer can afford to qualify for a new home at a million dollars lol
Put $100 000 down on a $1000 000 home and 2 years later you can move into it when its worth $800 000! SCAM!!!
I don’t have the money anymore…money’s not here like before…Never really was no reason just because…Don’t have the money anymore. anymore…
I want a 45 year halal mortgage
Mortgage = Paying for Retirees
No, that'd be the other half of your paycheque, the part going to taxes and CPP.
These guys are doing a bad job reporting on basic facts. They are full of "opinions", yet I still do not know what jurisdiction this applies in...
Useless. Exploitative garbage.
You should never put sunglasses on top of your head, because you can distort the shape of the frame and make them loose over time. Plus, it looks dumb on indoor a TV interview.
aha.....ahahahaha.......HAHAHAHAHAAH
What happened to the 99 year amortization? 😂 the stuff king charles does in the uk. 99 year leases of land. No wonder 90% of all of canadas land is crown land owned by a uk king who does nothing for us living in the other 10% on canadas land. Lets get to the root of problem. King charles wont let us use 90% of our land in this country..
you can do almost anything on crown land, say build a small shed and hunt to live off the land. just that you don't own it😂😂😂
Make a LAW, 3 home per-person, and no company can use homes as investments. Everything will be fixed.
@@humorss except you can't. Squatting (even the reasonable kind, on vacant land) has been legislated away so the parasites hoarding all the land can eventually sell it to the highest bidders while the rest of us live in tents (if we're lucky).
joke
Shame on u government for doing nothing for Canadians