“Having been conned by lower than market interest rates heavily set by the Central Bank of Canada, people were misled into purchasing “investments” they will not be able to afford in the future once interest rates rise.” Canada is quickly becoming much worse off than the US was (in terms of house prices to income [...]
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“Reading the newspapers these days, you have to wonder whether Canada was on another planet when the global credit crisis hit.” — Murray Dobbin All the news reports from Canadian real estate associations touting that the housing “recession has ended” is just about as worthless as the hot air coming out of politicians mouths. Very [...]
“In commercial real estate and leveraged buyouts, the bloodletting is yet to come,” Soros said in a speech in Europe. These so-called economists — who are no better at predicting economics than weatherman can predict snow falls — call the recession over, but the recession won’t be truly over until people get back to work [...]
“The balance of power in negotiating a lease or renegotiating a lease in some areas is now with the tenant,” said Janet Portman. Our sad economic times force us to rent properties that are not getting an acceptable sale price. This is not good for sellers, but desirable for tenants. Just keep in mind that [...]
“Why am I competing against a bank?” — Wallace, Detroit Resident. Detroit’s problems are easy to identify. It was the first “white flight” that had to do with the integration of school districts. This has led those who could afford to leave it outside the city limits or in private schools. Communities have continued to [...]
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