Originally Posted by Steve_

I could tell you exactly where and all the support units as well, but I think I would be violating the OSA.

Originally Posted by Steve_

... interest rate increases have to happen sooner or later, so that will dampen the market nationally. I think when that happens is when the condo market in the GTA and the pricier areas of lower mainland BC will start to go tits up.
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Originally Posted by Steve_

but interest rate increases have to happen sooner or later

Originally Posted by JonboyE

The people who are buying into the pricier areas areas of The Lower Mainland are investing surplus cash. Mortgage rates will not affect them.

Originally Posted by Alan2005

Are these people still buying? I've been hearing that the flow of Chinese suckers was coming to an end.

Originally Posted by Steve_

The MoD in the UK sold off a lot of their properties because the armed forces got smaller at the end of the Cold War. A lot of them were in a diabolical state. I know this because (a) I had to live in one at one point and (b) I worked for a company that maintained them as well.

Originally Posted by iaink

The market here (Quinte) is pretty slow. Most of what is moving is newer places and prices for established older properties tend to drop before the sell. I think its mostly good value for money, and when JTF2 moved to the Trenton base there will be 650 service men plus associated support staff moving into the area which will push prices up.

Thats not going to be for a little while, but there are probably worse times to buy than now. Seems like half my street is on the market to be honest. Must be something to do with the crap English neighbours. The house next to mine is available for $180k or so. Forces couple have been posted to Vancouver Island.

Originally Posted by JonboyE

It certainly seems to have slowed down. It was more to make a point that interest rate rises will not necessarily affect all parts of the market equally. I just don't believe places like the Endowment Lands full of ordinary Joes who are only just managing to make payments on multi million dollar mortgages.

Originally Posted by huddm

john009

The average UK mortgage is stated a £109K( which to us is a high mortgage) and average income is £26.2K and household income are £33K. Therefore ratio are 4.2 and 3.3 respectively. When I first brought a home in 1989 I was offered 2.5 time my salary and when I returned to the UK from Canada I was offered a max of 3 times my salary. I took out a mortgage at 1.5 times my income.
Most respectable lenders today will not give you more that 3 time salary as a mortgage. In 1989 I had to put down a large deposit which then was a a years earning for us. It was several years before of are hard savings, working as much OT that was available, no holidays or social life and selling our cars to get the deposit. So it seems that over 20 odd years later there no difference for first time buyers.

Hudd

Originally Posted by CANADIAN CARPERS

Meeting up for a round of golf is one thing but moving in next door Anyway having a scouser in the area may push your insurance up Thinking of a 500k place on the water (B/Q) fishing and bbq's and if you 3 putt you're cooking

Originally Posted by jerry brewer

Hi
To quote the effect of the chinese buyers on west vancouver, in fridays paper.....

a typical single family home valued at $1.5 million last year is now worth $2.5 million, a 45% increase.

cheers
jerry