June 26, 2012
Parkinsons SuperWalk 2012 Team Announced!
The fundraising drive has begun for the "Hike for Hank" Parkinson SuperWalk team! Brad Richert | Macdonald Realty 1st Pioneer will be at the Surrey Walk on September 9th & will contribute a portion of every firm sale between now and September 1, 2012.
Additionally, Henry Block will match dollar for dollar every contribution to our team. To find out more and/or to donate, please go to brad.hikeforhank.com - donations of $20 or more will automatically be issued a tax receipt.
From my "Personal Story"
This September I will be joining 14,000 Canadians who are taking part in the annual Parkinson SuperWalk in support of over 100,000 Canadians with Parkinson's.
This is an event very close to my heart. My Opa, who has supported me in everyway - relationally, emotionally, financially, and above all, spiritually, was diagnosed with Parkinsons over 10 years ago. I want to do my part to give back, in even this very small way, to the man who has been an inspiration to so many and a foundational pillar of our family.
In addition to my commitment to raise funds of the Parksinson Society of Canada, I will donate a portion of every home sale between July 1, 2012 and September 1, 2012.
Parkinson SuperWalk is Parkinson Society Canada's national, once a year event to raise funds for research into the causes of Parkinson's, better treatments and one day, a cure. Together we raise funds for education and support services, not only for people with Parkinson's, but for their caregivers and family members too. When you walk with me or sponsor me, you help us get closer to this year's goal of $3 million. Every dollar means new hope. Thank you!
June 21, 2012
Opinions on New Mortgage Rules
By now you've heard hear or elsewhere that Canada will be faced with new/old mortgage rules as of July 9th.
Economists are calculating that these rules are effectively adding 1% to today's interest rates and the Finance Minister has admitted that his decision came based on witnessing Toronto's booming market.
Yes, this will especially effect first time home buyers and already analysts are predicting the move will hurt those in communities throughout Canada just recovering from 2008 moreso than Vancouver/Toronto (ie. Abbotsford/Chilliwack).
Yes, this needed to be done. The troubling aspect of this, however, is that in 2006 we were on a healthy growth cycle. Back then, there was no such thing as a CMHC-backed 0 down mortgage or 30-year amortization. Home prices were rising, but were doing so because the market was healthy.
In May 2006 the newly elected government introduced the government-insured 0-down, 40-year mortgage in a move that was heading towards an American-like sub-prime system. Between 2006 and 2008 home prices skyrocketed as those who previously could not afford homes could now stretch out their budget.
In 2008 the American and Canadian housing market collapsed, but due to a centralized banking system, and years of financial prudence in the 90s and early 2000s let Canada escape the worst of it.
But while Vancouver and Toronto bounced back, the media paid no attention to the majority of Canadian markets. As Vancouver went back to multiple bids and skyrocketing prices, no articles were written about outlying suburban homeowners who were losing upwards of 20% on condos they bought just 1 year earlier due to an oversaturated market.
Furthermore, the current spin is that this move back to 25-year mortgages is in the name of financial prudence. It is actually an admittance of wrong-doing by the current government. After instigating an unhealthy market, the government has rapidly moved to undo their original 2006 budget, effectively admitting their irresponsible actions.
If you have any questions regarding the new mortgage rules, please contact myself and I can certainly answer them or have one of my mortgage experts get into the technical details and/or help you beat the new rules.
***The opinions above are those of my own and do not represent those of Macdonald Realty or Macdonald Realty 1st Pioneer.***
See Facebook page comment section for links regarding the new rules.
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