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Prediction For The Coming Decade: A Real Estate Bear Market Will Be Vancouver’s Defining Social And Economic Event. →

“25% of buyers won’t be able to purchase anymore.”

Posted on 26 December 2009 | Leave a comment

The tightening of mortgage lending criteria will likely herald the end of the current RE market cycle. -vreaa.

This from mortgage broker Marcus Tzaferis on CBCs The National 22 Dec 2009 (also cited in good articles at canadianmortgagetrends.com and greaterfool.ca) -

“25% of buyers… these people that are buying with 5% down, and those that are buying with 35-year amortizations… won’t be able to purchase anymore.”

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This entry was posted in 05. Where do Buyers get the money?, 08. Overextended Buyers and tagged Anecdotes, Bubble, Canada, Housing, Media, Mortgage brokers, Real Estate, Speculators. Bookmark the permalink.

← “My co-worker bought recently with the full expectation he and his wife are taking a major hit in the near future, but with a second child on the way family outweighed finances.”

Prediction For The Coming Decade: A Real Estate Bear Market Will Be Vancouver’s Defining Social And Economic Event. →

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