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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Chispas who wrote (631)	2/25/2004 1:45:53 PM
From: mishedlo	Read Replies (1) of 116555

Canadian Real Estate Posted by Mazepa on the FOOL Read the whole article it is interesting mish ========================================================= Toronto real estate makes Calafornia Real Estate look like a bargan. In T.O you can buy a 2 bedroom home covered in roofing shingle that is about 100 years old for just 300 - 600 k. What is amazing about it all is that people are buying. Gotta love it... canoe.ca Snip... To me, this is irresponsible leadership. Now is the time to encourage overly indebted Canadians to go on a debt diet -- not take on more debt. But, as in the States, our hot housing sector is keeping our economy alive, so the gurus at Canada Mortgage and Housing Corp. (CMHC) have decided it's time to get more people in the market. How? By letting them jump in with no money down -- and that move makes me, and many others, very nervous. Here's how it works: Effective March 1, you'll be allowed to use bank loans, mortgage cash-back incentives, even credit cards or borrowed money from parents, friends or relatives to make up a 5% down payment.

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