Canadian Funding Corp. Reviews Housing Updates

I am a person who enjoys the simpler things in life. Picking scabs. Watching my cats play with bubble wrap. Naps. Playing Monopoly.

I realize that Monopoly doesn’t sound that exciting. And I’m sure many of you will have stopped reading before this sentence, or are now in complete awe of how depressing my life is. But I assure you: I have had some near-death experiences fighting over the rules of Free Parking.

For as long as I can remember, “Free Parking” has meant “Jackpot.” Whenever the Community needs some astronomical sum for building repairs, or Chance has it that you’ve finally got to pay taxes on all those luxuries you’ve been hoarding, you pay it to the middle of the board. Then, when you land on Free Parking, you load the loot into your little pewter wheelbarrow and wheel it back to your house on Baltic Avenue.

But, time and time again, I have been challenged by those who maintain that Free Parking is just a “Resting Place.” Riiiiiight you guys. A resting place…in the middle of a board game. Gee, I’m getting really tired pushing this thimble around. If only there were some place I could rest, and escape the pressures of real estate ownership, if only for a moment. Oh my God! Free Parking? Don’t mind if I do!

I’m sure this will send many of you scrambling for your Monopoly Rule Books, where you will no doubt find concrete evidence to prove me wrong. And if you look in the Monopoly Rule Book under “Free Parking”, you will see that it is, in fact, just a resting place. And yes. If you look in the dictionary under “wiener,” you’ll find a picture of yourself holding the Rule Book for Monopoly! Of course the rules say it’s just a resting place. The rules are designed to maximize boredom, and minimize coolness. It’s time to put down the rule book, and pick up a leather jacket, because you need some serious schoolin’ in coolin’!

In conclusion, every time you use Free Parking as a resting place, an innocent top hat goes to jail.

http://vice.typepad.com/vice_magazine/2009/07/canada-.html

reviewed by Moishe Alexander, CFC canadian funding corp CEO

by Amber E. Schaller

The real estae world has been sent completely on its ear this year, with bailouts, credit problems, foreclosures and more. What’s in store for us now? Is there any way to know if the rates will continue to go down?

Usually, with conditions so tight in the lending markets, one would expect banks to lower their rates to attract the best customers. But it appears that banks are actually raising rates, in the hope that will improve their revenue.

It seems pretty short sighted, but to make up for falling revenues, banks are increasing rates across the board, instead of offering attractive rates for their most credit worthy borrowers. This shortsightedness is not limited to the mortgage industry; credit card companies are doubling and even tripling their rates in reacton to defaults on the part of customers in this depressed economic environment.

It used to be that when the economy slowed down, lenders would lower their interest rates and this would give an incentive to borrowers. Things are not like they were before, though, and new rules seem to be the rule.

How should a homeowner view this crisis, and what things should he be doing? Wait for this time to pass and for rates to come down or grab a loan now, while there is still some credit available, or wait for the fallout from the recession?

Some economists are not only predicting a recession, but even a depression, with deflation instead of inflation. Normally, deflation will in turn lead to lower interest rates, so this indicates a wait and see approach is the best to take at this point.

There are lenders who are still granting mortgages. Many small banks are not suffering from the credit crunch that has hobbled many big banks. In this case, being small was better, because many of them were insulated from the issues now haunting most of the credit industry.

There is another strong reason for waiting to buy right now and that is because home prices probably still have a way to come down. The Case-Schiller study that came out in November of 2008 reported year on year decreases of 17% nationally, with 25% in some locales. The scene seems to be perfect not only for lower interest rates, but lower housing prices as well, with the wise homeowner putting off his plans until the entire mess is sorted out!

http://thephilippinerealestate.com/articles/mortgage-insurance-in-canada-interest-rates-in-the-new-world-of-mortgages/

reviewed by Moishe Alexander, CFC canadian funding corp CEO

Experts involved in the Calgary Real Estate market say that the selling of high end homes is down drastically. The market downturn in Calgary and area does not have professionals spooked though, they say conditions are still strong.

“Cautious, price-sensitive purchasers are now weighing their options, waiting as long as six months for the right property to come along,” the report says. “Properties that are priced well will sell, while those that are priced too high will linger.”
Although people who buy an upscale house generally have deeper pockets than those buying an average home, factors that influence their decision are largely the same, said Lowell Martens, a realtor with Re/Max Mountain View. Article.

Free Real Estate Listings.

http://surerealestate.blogspot.com/2008/09/real-estate-for-well-to-do-is-on-slide.html

reviewed by Moishe Alexander, CFC CEO