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標題: RBC: B.C. housing affordability "tests the limits" [打印本頁]

作者: tiffiant 時間: 2010-9-27 19:51 標題: RBC: B.C. housing affordability "tests the limits"

RBC: B.C. housing affordability "tests the limits"
Major decline in the resale market
Richard Dettman Sep 27, 2010 07:41:47 AM
1 Comment(s) 0 Recommendation(s) VANCOUVER (NEWS1130) - Canada's least affordable housing market became even less so in the second quarter, according to a report by Royal Bank. RBC Economics Research says "the high-flying Vancouver market is probably the closest (to a housing bubble) in the country."

Economist Robert Hogue adds "very poor affordability (is) likely playing a role in the steep drop in the resale market since the start of the year."

The bank adds the ownership costs of a detached bungalow in Vancouver take up 74 per cent of a typical household's monthly pre-tax income. Toronto is a distant second at 50 per cent.

Hogue explains "even though the Vancouver market is clearly vulnerable to a price correction, this does not imply that a collapse is imminent because existing and new home supply is well contained at this point."

作者: mukmuk2 時間: 2010-9-27 22:06

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作者: samsung 時間: 2010-9-28 01:42

so?

作者: mukmuk2 時間: 2010-9-28 05:22

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作者: samsung 時間: 2010-9-28 10:48

本帖最後由 samsung 於 2010-9-28 10:49 編輯

No idea. I wish tiffiant can post something interesting instead of just randomly grabbing any new ...
mukmuk2 發表於 2010-9-28 05:22

somebody in this forum said these datas are garbage... they should buy home no matter how high the price is, no matter how the trend is, only depends on your own situation... if you have rich family, you should just buy it disregard what the price is, you can afford to buy many houses for your relatives to live in without getting any rent from them, haven't we all learned it?

so, throw all of these statistics and so-called reports into garbage bin la... she said all should be disregarded ga... of course, she is not telling everybody to follow her, she just want to show everybody how rich & how 大支野 she is

作者: MSN04 時間: 2010-9-28 11:39

Please note that this report is very conservative already.
The analysis was based on 25% down payment and 25-year amortization period.
I think the average down payment is 7% (no more than 10%), and people are having 35-year amortization period.

作者: 快樂牛郎 時間: 2010-9-28 12:55

I think the average down payment is 7% (no more than 10%), and people are having 35-year amortization period.MSN04 發表於 2010/9/28 11:39

why would people still insist on buying a place?
i can pay off a mortgage in 10 years but that's still too long for me

作者: 匿名 時間: 2010-9-28 14:00

Please note that this report is very conservative already.
The analysis was based on 25% down paymen ...
MSN04 發表於 2010-9-28 11:39

partly true... unfortunately banks always refer to this factor as a base (25%/25 yrs.), unless you have a good potential to consider with... e.g. you are a fresh grad doctor/registered nurse/IT specialist, etc.

They will grant as low as 5% down payment (oh no sorry, govt has tighten policy a few months ago, this won't happen any more), and up to 40 yrs., but please conisder this: how much more interest you have to pay if your amort is 40 yrs.? Also, if you are 25 yrs old, are you going to pay mortgage your whole life?? So most people will not choose 40 yrs amort., and also banks tend to be very careful in approving for 40 yrs mortgage unless everything else is strong (e.g. job stability, good credit, assets, etc.).

作者: 匿名 時間: 2010-9-28 14:00

why would people still insist on buying a place?
i can pay off a mortgage in 10 years but that's s ...
快樂牛郎發表於 2010-9-28 12:55

you're right, 10 yrs is way tooooooooo long....

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