Dodge Criticizes Carney, the Globe Pushes Back
There’s been an interesting debate going on for the last couple of days in Canada. David Dodge, who was the former Bank of Canada governor from February 1, 2001 to January 31, 2008 has recently spoken out against Mark Carney, saying that he disagrees with the now-Governor when it comes to the housing market in…
Read moreWill the OSFI be able to Handle CMHC?
Most Canadians know by now about the recent changes made to the Canada Mortgage and Housing Corporation that were made last week; the changes that involve CMHC now being taken over by the Office of the Superintendent of Financial Institutions (OSFI.) When the change occurred, we asked you to weigh in on whether or not…
Read moreExperts and BoC Governor Worried about Bubble
It’s a fact. You just can’t talk about today’s real estate market without mentioning the word “bubble.” Jim Flaherty spoke about it on Friday, and now Prem Watsa, chief executive officer of Fairfax Financial Holdings Ltd., and the Canadian investor who was the first to predict the crisis in the United States, says that if…
Read moreWho’s to Blame for the Bubble?
Is Canada in a housing bubble? If it’s not, it’s getting dangerously close to that point. But who’s to blame for it? According to Jim Flaherty, it’s partly the fault of the builders and developers in hot markets like Toronto who continue to build. But the banks part in it can’t be overlooked, and the…
Read moreCMHC Changes Announced Yesterday
Here they are! The changes have been made to mortgages in Ottawa, and Finance Minister Jim Flaherty is hoping that this is the only extra step the government will have to make when it comes to cooling the housing market and allowing it to “correct itself,” as he’s stated before he’s hopeful it will do….
Read moreSale of $6 Million Home Proves Calgary is Still Booming
Calgary’s housing market is booming! And while that’s good for builders and developers in the area, it might not bode so well for those currently looking for Calgary mortgages. One home just made history in the city when it sold for $6 million – $1 million over the home’s listing price. The luxury home has…
Read moreIs CMHC to Blame for Canada’s Housing Bubble?
When it comes to the bubble that Canada’s housing market may or may not be in, there’s a lot of blame to go around. Some are blaming the banks, some are blaming imprudent borrowers, some are blaming foreign investors, and some are blaming the government! This latter is what the Jesse Kline of the National…
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