Vancouver housing affordability for many becomes a matter of strategy

March 26, 2015 under Useful Articles
BY TRACY SHERLOCK, VANCOUVER SUN MARCH 25, 2015. Payments on the average detached house in Metro Vancouver now require more than 48 per cent of the median household monthly income. METRO VANCOUVER — With Vancity projecting that the average Vancouver detached house will cost more than $2.1 million by 2030 and require more than 100 per cent of the median household income to maintain the debt, it would seem ver
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Tony’s Latest Updates – March 26,2015

March 26, 2015 under Tony's Latest Updates
Something has to give.  Price and sales continue to rise in Canada’s largest real estate markets and putting huge pressure on home affordability.  Homeowners and buyers are already facing tough lending conditions and as of recent Genworth Financial, Canada’s largest mortgage insurance provider has announced increased underwriting scrutiny to mortgage underwriting.  Market conditions in Vancouver and Toronto
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Genworth boosts scrutiny to mitigate delinquencies

March 25, 2015 under Useful Articles
By Jamie Henry | 25 Mar 2015 Canada’s largest private mortgage insurer is exercising “heightened vigilance” in Western Canada in preparation for a potential rise in delinquencies. Genworth president and CEO Stuart Levings says that the company isn’t pulling out of the region but is weighing the risks of each policy very carefully and it may mean some circumstances are no longer acceptable for the compa
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Debt firm warns of “laissez faire” attitude to borrowing

March 12, 2015 under Useful Articles
by Jamie Henry | 12 Mar 2015 A Canadian debt company has warned that consumers have a too-laid-back attitude to borrowing money. Laurie Campbell, CEO of Credit Canada Debt Solutions told CBC: “People seem to have a laissez-faire attitude toward debt right now, simply because what’s been shoved down our throats — that interest rates are at an all-time low, and life is great… and the economy is not
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Tony’s Latest Updates – March 13,2015

March 12, 2015 under Tony's Latest Updates
The IMF has recently issued another warning about Canada’s high housing prices the levels of Consumer debt and has urged the Canadian Government to introduce more tightening to mortgage lending. The upcoming Federal election may save us from the Government acting too quick, but don’t hold your breath. If the price trends in Vancouver and Toronto continue, I suspect they will act now and not wait until after the
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