Comments for Better Dwelling https://betterdwelling.com/ Canada’s Fastest Growing Real Estate News Source Mon, 18 Dec 2023 20:41:01 +0000 hourly 1 Comment on Fire Sale: Toronto Mansion Listed For Sale At $14M Torched By Arsonists by Ron Bruce https://betterdwelling.com/fire-sale-toronto-mansion-listed-for-sale-at-14m-torched-by-arsonists/#comment-93047 Mon, 18 Dec 2023 20:41:01 +0000 https://betterdwelling.com/?p=24446#comment-93047 Firemen call this “Financial Combustion”. When fire insurance payments are worth more than the building, torch it. If the building was purchased with laundered money, it is best to get rid of it, as money launderers can face civil forfeiture and jail time.

]]> Comment on Canadian Real Estate Sellers Rush For The Exit, Softest Month Since 2008 by Jan Cerny https://betterdwelling.com/canadian-real-estate-sellers-rush-for-the-exit-softest-month-since-2008/#comment-93021 Fri, 15 Dec 2023 05:38:37 +0000 https://betterdwelling.com/?p=24443#comment-93021 This is good, but, how about add some facts about the Calgary, Alberta, or even more CANMORE;-) Completely different story, market balanced, up about 6 % year over year and all good here. Cheers Jan jan@cerny.ca – disclosure, I am RE/MAX agent so I cannot mislead you with my above information and can prove it statistically.

]]> Comment on Canadian Mortgage Rates Peaked, Won’t Go Back To 2019 Levels: BMO by BCGuy https://betterdwelling.com/canadian-mortgage-rates-peaked-wont-go-back-to-2019-levels-bmo/#comment-93003 Thu, 14 Dec 2023 04:06:28 +0000 https://betterdwelling.com/?p=24426#comment-93003 Good lord if this is true it’s financial suicide for Canadians.

]]> Comment on Canadian “Systemic Risk” Due To CLP Mortgages Is Bigger Than You Think by Cory https://betterdwelling.com/canadian-systemic-risk-due-to-clp-mortgages-is-bigger-than-you-think/#comment-92986 Wed, 13 Dec 2023 02:11:04 +0000 https://betterdwelling.com/?p=24430#comment-92986 Smith manoeuvres for the purpose of investing in the stock market are definitely a big portion of it, but I’d assume there are plenty of others using the credit to purchase investment properties.

]]> Comment on Canadian “Systemic Risk” Due To CLP Mortgages Is Bigger Than You Think by Paul https://betterdwelling.com/canadian-systemic-risk-due-to-clp-mortgages-is-bigger-than-you-think/#comment-92985 Wed, 13 Dec 2023 01:24:10 +0000 https://betterdwelling.com/?p=24430#comment-92985 I think an important take away is the amount of individuals that were trying to pay down their mortgages faster by using the CLP to invest in the stock market thus being able to write off the interest through deductions come tax time. Online when I pressed those individuals about possible future outcomes (namely being higher rates, lower house values, and a falling stock market) they dismissed them as not important or an improbably future timeline that wouldn’t affect their bottom line. Those involved with the “smith manoeuvre” had a chance about a year ago to pull out and take a hit and avoid the catastrophic end that is surely coming. My guess is the numbers going up is the bill going unpaid. Anyone else have any thoughts on this?

]]> Comment on Canadian “Systemic Risk” Due To CLP Mortgages Is Bigger Than You Think by Patiently Waiting https://betterdwelling.com/canadian-systemic-risk-due-to-clp-mortgages-is-bigger-than-you-think/#comment-92982 Tue, 12 Dec 2023 21:06:19 +0000 https://betterdwelling.com/?p=24430#comment-92982 The author forgets to mention the Federal government’s involvement and willingness to keep this scheme going by directing Banks to extend mortgages for insured borrowers. They only just figured out in Sep we’re having a housing crisis.
When will this bubble pop? I don’t believe this can go on much longer.

]]> Comment on Canadian “Systemic Risk” Due To CLP Mortgages Is Bigger Than You Think by Scott MacKinnon https://betterdwelling.com/canadian-systemic-risk-due-to-clp-mortgages-is-bigger-than-you-think/#comment-92979 Tue, 12 Dec 2023 20:04:02 +0000 https://betterdwelling.com/?p=24430#comment-92979 “….we have discovered a great social secret in Canada. We have contrived to solve problems which would ruin other countries merely by ignoring their existence.”- Hugh MacLennan. Two Solitudes.

]]> Comment on Canadian “Systemic Risk” Due To CLP Mortgages Is Bigger Than You Think by Ron Bruce https://betterdwelling.com/canadian-systemic-risk-due-to-clp-mortgages-is-bigger-than-you-think/#comment-92978 Tue, 12 Dec 2023 20:03:24 +0000 https://betterdwelling.com/?p=24430#comment-92978 It sounds like a Ponzi scheme, and banks approve it. Several large Canadian Banks have been fined for money laundering in the past months in the $Billions of dollars. No executives were reported as going to jail. However, their clients and depositors will unknowingly pay the fines over the next few years.

Section 462.31 of the Criminal Code makes it an offence for you to be INVOLVED IN ANY WAY with the laundering of the proceeds of crime, such as using, transferring or transporting funds raised through criminal activity.

]]> Comment on Canadian Mortgage Rates Peaked, Won’t Go Back To 2019 Levels: BMO by M.Bury https://betterdwelling.com/canadian-mortgage-rates-peaked-wont-go-back-to-2019-levels-bmo/#comment-92974 Tue, 12 Dec 2023 09:40:09 +0000 https://betterdwelling.com/?p=24426#comment-92974 The assault on net savers resumes.

]]> Comment on Two of Canada’s Largest Banks Hit With Anti-Money Laundering Fines by Not a homeowner https://betterdwelling.com/two-of-canadas-largest-banks-hit-with-anti-money-laundering-fines/#comment-92958 Mon, 11 Dec 2023 04:37:26 +0000 https://betterdwelling.com/?p=24403#comment-92958 Expecting a government that can’t even issue passports in a timely manner to catch sophisticated international money laundering might be a bit much.

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