They should make the lifetime amortization so that people can die in debt and the prices of houses can become $5M when the avg income is $60k... The problem is speculation and the way the tax system works in Canada. The easiest way people can become wealthy is through real estate, so people keep buying houses, propping up the houses further, making everyone buy even more houses. Canada has the same supply of houses as in the US, but our houses are 50% more. Unfortunately, since 2010 we've become a country that only focuses on housing.
That still doesn't help anyone who doesn't make $200,000 a year, those people should walk up and smell the coffee. The country has become a joke. I would gladly leave it, if I could.
@@saskatchewanrealestate it won't help, this will give additional firepower to everyone in Saskatchewan, further propping up the prices. So you'll be in exactly the same spot next year, except now you're bidding on $1M houses with everyone else. It's totally the reverse of what we should be doing.
I bought my first and only property cash, I wonder if my first mortgage could qualify for this or if I would no longer be considered a "first time" buyer
If someone wants to do a JV but one of the partners involved are not first time home buyers; can they still qualify for a 30 year amortization with less than 20% down ?
Excellent video! 30 amortization is just too painful to think about the added interest
Great point! Added amortization means more interest paid on the loan.
Well compacted.
Good update
Thank-you sir! Hope you’re doing well.
They should make the lifetime amortization so that people can die in debt and the prices of houses can become $5M when the avg income is $60k... The problem is speculation and the way the tax system works in Canada. The easiest way people can become wealthy is through real estate, so people keep buying houses, propping up the houses further, making everyone buy even more houses.
Canada has the same supply of houses as in the US, but our houses are 50% more. Unfortunately, since 2010 we've become a country that only focuses on housing.
As you said there will be a completion and then a higher price.
I think so, basic supply and demand.
Hopefully that demand means more housing being built as well.
That still doesn't help anyone who doesn't make $200,000 a year, those people should walk up and smell the coffee. The country has become a joke. I would gladly leave it, if I could.
I don’t think that’s true for all areas of the country. Here in Saskatchewan it will help.
@@saskatchewanrealestate it won't help, this will give additional firepower to everyone in Saskatchewan, further propping up the prices. So you'll be in exactly the same spot next year, except now you're bidding on $1M houses with everyone else. It's totally the reverse of what we should be doing.
I bought my first and only property cash, I wonder if my first mortgage could qualify for this or if I would no longer be considered a "first time" buyer
I don’t think you would qualify under first-time home buyer status. Unless you did not live in the property for a period of time.
@@saskatchewanrealestate That is good to know, thank you for this
If someone wants to do a JV but one of the partners involved are not first time home buyers; can they still qualify for a 30 year amortization with less than 20% down ?
Joint ventures typically refer to a rental property purchase between different people. A rental property purchase is typically not insured.