It is our strict banking laws that have kept us afloat but - that doesn't mean they are being good to us. CMHC are the ones pushing a lot of those laws onto them.
Are people just getting too selfish and Greedy?
- Thread starter JLM
- Start date
Oh yeah, the "banks" make it where they can, BUT you seem to think the banks and us are separate entities, they're not. As I said before bank earnings are the interest and dividends we are being paid for our investments, plus of course a healthy salary for C.E.O.s etc.
Right now....CIBC, my mortgage with T.D. is maturing and CIBC is taking it over at 2.5% for one year term, best T.D. would offer was 2.9% until they heard I was switching, then they offered me 2.5% too bad you snooze you lose. :lol:
Iggy, I don't think you will find a chartered bank in Canada that will offer anyone a 50 year mtg. Not anymore. I believe it was reduced to 30 years about a year ago, maybe a little less than that. If someone needs a 50 yrs. mtg. they are buying a house they cannot afford.
Absolutely :smile:
Because they will be dead before it's paid off? :lol:
Definitely not as good as head cheese. :lol:
It's moving up slow but - it's moving up. The end goal is $10.00 per hour.
INFORMATION BULLETIN
2011LCITZ0007-000353
April 8, 2011
Ministry of Labour, Citizens' Services and Open Government
B.C. minimum wage changes effective May 1
VICTORIA – Employers and employees in British Columbia are reminded that changes to the provincial minimum wage, under the Employment Standards Act, come into effect on May 1, 2011.
Talking about resourceful, we are about to see the greatest instability since the 1060's.
Society as we know it is breaking down internationally, and we can see it every single
day. Socially, economically and civilly. The markets are going to collapse in short
order because the demand and the lack of meaningful production will demonstrate the
consumer economy does not work. In society people are not willing to take less as now
seen in some countries in Europe and it will spread. The other problem is demonstrated
in the civil reaction people have toward one another.
As for are we selfish and greedy? We have always been selfish and greedy and all the
platitudes we hand out about how wonderful we are, we are all greedy and selfish.
The capitalist society we built is a monument to greed and selfish behaviour. Our
attempts at humanitarianism is to ease the conscience of our own greed and it will continue
as long as mankind is on the planet. We of course, make attempts at building a better world,
and that is admirable, but the selfishness and greed of mankind is a double edge sword.
On one hand it is destructive behaviour on the other hand selfishness and greed leads us to
new inventions and progress. Think of all the inventions that have made more convenience
in our world. All of those items were invented for profit and the benefit of the person who
invented it. Human progress is inspired by greed and selfishness.
Society as we know it is breaking down internationally, and we can see it every single
day. Socially, economically and civilly. The markets are going to collapse in short
order because the demand and the lack of meaningful production will demonstrate the
consumer economy does not work. In society people are not willing to take less as now
seen in some countries in Europe and it will spread. The other problem is demonstrated
in the civil reaction people have toward one another.
As for are we selfish and greedy? We have always been selfish and greedy and all the
platitudes we hand out about how wonderful we are, we are all greedy and selfish.
The capitalist society we built is a monument to greed and selfish behaviour. Our
attempts at humanitarianism is to ease the conscience of our own greed and it will continue
as long as mankind is on the planet. We of course, make attempts at building a better world,
and that is admirable, but the selfishness and greed of mankind is a double edge sword.
On one hand it is destructive behaviour on the other hand selfishness and greed leads us to
new inventions and progress. Think of all the inventions that have made more convenience
in our world. All of those items were invented for profit and the benefit of the person who
invented it. Human progress is inspired by greed and selfishness.
You can go longer than 30 years depending on your down payment but it's not a mortgage insured by CMHC
So it's about 40% more than you made in 72 yet the price of you first home would cost you 900% more today. Do you see a gap there?
Numerous reasons. One could get sick and die leaving and insurance on that kind of mtg. is almost a monthly payment in itself.
Divorce happens all too frequently and as I said, I'm pretty certain that if you query that, you will find that the banks are no longer allowed to give a mtg. for longer than 30 years anymore. A mtg. with that amortization would have been rare in this country and that's why our banks did not go belly up.
Sad part of it is it is not going to do us more good than it did back in 2000, or in 1960, it just drives inflation up, but it's strange how many people don't understand that. Like I said my pad rent back in '72 was $41, now it's about $300, how does that make us better off? :smile:
Certainly but that doesn't change anything when it comes to an amortization period. The government put the brakes on those big mtgs.
Anyone who is earning even near minimum wage is not going to be given a mtg. today.
Yep, more red tape today, stricter building standards and of course more doo dads that come with a house, in those days we were happy with an electrical outlet in each room, today they install them every 4'.
Outside of the realm of CMHC insurance you can get a mortgage longer than 30 years.
I built a log cabin in '82 for $800. In '79 I built a frame octagon for $300. In '74 I built a cabin for $100. If the shyte hits the fan, I will be happy because then there will be no government employee with a stick up his butt trying to run me off so called Crown land and I will not have to pay rent and utilities. I thought things were screwed up in '72 when I went to live in the bush. Now things are ten time more screwed up because no one is willing to tighten their belt even though the writing is on the wall. The way things are going, cities will descend into chaos and it will not be pretty. All this BS about banks and the economy will be mute.