Sign me up. -vreaa
This from GR, the possible future leader of a grass roots movement, at vancouvercondo.info 11 Dec 2009 12:05 pm -
“I am in government relations, with experience at the federal, provincial, and local government levels. I have vowed for the past two years that should the federal government contemplate any type of homeowner bailout, I will be organizing a “grass roots” campaign to lobby against said type of bailout.”
Why would there be a bailout when the market is making NEW HIGHS
When interest rates rise, as they will, there will be a small but significant number of homeowners who will be unable to refinance. The BOC has even (this last week) gone as far as estimating the number of owners affected under different rate levels in future. There will be an increase in foreclosures. More important, rising rates will put downward pressure on prices and speculator demand will dry up. Some speculators will also sell, and new retirees will try to cash in. This will all put downward pressure on prices. This will make it harder for an even larger group of owners to refinance… etc., etc.
It is with this in mind that some people are already anticipating cries for bailouts, and already preparing to voice objections to any suggestions of bailouts being implemented.
Be forewarned, be prepared!
Jimming
Uuummm…look at the attempts already at creating a bailout fund for Canadian subprime mortgages…bailouts are already being contemplated by some, and action is already underway…it is only a matter of time before mainstream bailouts are considered
http://www.theglobeandmail.com/report-on-business/orphaned-homeowners-face-foreclosure/article1390721/