Vancouver Real Estate, a Sieve, 40YR Mortgages and Evolution
Posted July 12th, 2008 in Buying or Selling, Real Estate | 
You Need A Sieve
There is always more to a story than what you see in newspapers, television, magazines and blogs. The recent change to 40 year mortgages is an example. Scour any part of the web and there will be hundreds of opinions including this one, occasional rants based on fact or fiction about the good and the bad aspects about this mortgage model. Some conclusions are fascinating others are simply, nuts. A fine sieve is always helpful.
Reasons
Finding the definitive reason for the Governments change of heart you eventually come across what I think may be the most simply stated rational explanation. It appears in June 23/08 remarks made by Sheryl Kennedy, Deputy Governor of the Bank of Canada, to a gathering of the Investment Dealers Association.
An easy read beginning with:
“The current state and likely future evolution of the housing market in Canada have implications for the economy, financial markets, and policy-makers.”
Soft Words Hard Sense
It is a talk that takes into account the broad spectrum implications to the financial health of our people and our country. Her words will help you understand the impact of the demise of the 40 year mortgage on your personal finances or your Vancouver home purchase or sale, be it today or in the future.
Got a Vancouver Real Estate question? Always happy to do my best to answer it. Call or send me an email.
Larry
a full PDF Download of Ms. Kennedy’s talk is available on the BOC site
