Calgary real estate prospects

[ExtraSlow]

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Score. Now I can afford the Bose sound system!

Or heated seat subscription!

[max_boost]

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https://betterdwelling.com/canada-be...55-year-loans/



To the moon!

Can we get rid of this Justin guy yet?

lol awesome

[CompletelyNumb]

Housing crash imminent right?

[msommers]

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https://betterdwelling.com/canada-be...55-year-loans/



To the moon!

Can we get rid of this Justin guy yet?

The CMHC quietly notified lenders they’ll be extending the maximum amortization, or length of repayment. The developer bailout will help borrowers repay their loan over two generations, with projects at risk of default now able to extend their repayment term up to 55 years.

The reason for children is becoming more obvious - Financial scapegoat. Probably call them lazy while I'm at it for full gaslight effect.

[flipstah]

Nothing says love like passing generational debt down

[ercchry]

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Nothing says love like passing generational debt down

Need 50yr terms to go with the amortization (like American style loans)…. Then it will be a flex, 1.99% vs 8.99% for others. Don’t give up the cheap money!

[max_boost]

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Nothing says love like passing generational debt down

not everyone can have successful parents like 89coupe where they pass down aspen homes

[flipstah]

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Need 50yr terms to go with the amortization (like American style loans)…. Then it will be a flex, 1.99% vs 8.99% for others. Don’t give up the cheap money!

Ultimate Flex: locked in 1.99% interest

[bjstare]

My BIL lives in the states and locked in his 25yr at ~2% iirc. Murica.

[Buster]

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My BIL lives in the states and locked in his 25yr at ~2% iirc. Murica.

Their system has a shit ton of unintended consequences. It is almost never a good idea to not let the cost of capital float with the market.

[pheoxs]

Outside of the pandemic lows which a lot of people will benefit from the US almost always has mortgage rates around 1-2% higher than Canada because of the long terms. Historically we've come out ahead because having 3% and then renewing after 5 years for 3.5% is far better than being locked in at 4% for 25 years.

Canadians could've also took 10yr+ terms out at the time which in hindsight would've been smart. But we're all quite dumb unfortunately.

[88CRX]

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Outside of the pandemic lows which a lot of people will benefit from the US almost always has mortgage rates around 1-2% higher than Canada because of the long terms. Historically we've come out ahead because having 3% and then renewing after 5 years for 3.5% is far better than being locked in at 4% for 25 years.

Canadians could've also took 10yr+ terms out at the time which in hindsight would've been smart. But we're all quite dumb unfortunately.

I will renew for eternity at anything in the 2's (if we ever get there again, but I doubt we will).