Big Blow

Rising Rates

The storm arrived in the night.

Be Ready

The weather man had warned us to expect a blow. Likewise, the Bank of Canada’s Governor Carney, and many other economist types have echoed similar reports in recent months regarding the impending rise in mortgage interest rates.

They Didn’t Listen

Walking along Kits beach I came upon a current unfortunate example of those who don’t head warnings.

Sad it was, to see their lives broken and washed up on shore, laid open as the curious public walked by.

Not My Fault

Standing close aboard, the blustery wind carried one owner’s lamenting words. The essence of his words – the result was ‘all somebody else’s fault’!

His words struck home as thoughts moved to those who have not listened to the warnings issued by banks and economists. There is another storm coming in the form of rising mortgage interest rates.

Like this boat, one of four, stranded or destroyed on Kits beach, can we expect to see the predicted interest rate storm casting those with minimal down payments and high debt load on to rocky shores?

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

Boombust Says:
April 10th, 2010 at 8:22 am

But Larry!

What possible effect would it have on the market?

(Hmm…let’s hear it)

April 10th, 2010 at 9:17 am

@boombust
feeling somewhat glib I would say the market will have more sand in its shoes?

Penult Says:
April 10th, 2010 at 1:02 pm

Larry,

Unfortunately, the owner of one of the beached boats had been ordered out of safe harbour (False Creek) by the VPD, despite his protests that a strong wind storm was imminent.

Maybe a parallel can be drawn here – when CMHC needs to be bailed out, will those of us who have saved and waited for irrationality to blow through have to unwittingly pay for other’s shortsightedness.

van coffee Says:
April 11th, 2010 at 8:03 am

Penult –
Typically that is the way it works.

Penult Says:
April 11th, 2010 at 10:07 am

I guess a not-so-subtle difference is that no one’s forcing me to ‘leave safe harbour’ and take out a mortgage, try as the mainstream media parrots might to coerce me.

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