30 year amortizations aka sign life away.

Okay, so the government prints a ton of money, things shoot up way above any real affordability measure in real estate, and then they extend the mortgage so we can pay it off longer into a time frame when we are retired and cannot earn any income? This economy is f*cked! Our government is f*cked!


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Apr 12, 2024 at 11:07am

It still won't save the Liberals precious housing prices either. This is an act of desperation, not a testament to the strength of the Canadian housing market.

The crash isn't apparent now, but it will be. I've seen this story play out before. I hope FTHB understand this, and don't find themselves trapped in poorly built and maintained stratas that are losing value each year while the carrying costs continue to ascend to the moon and chunks of the ownership stop paying their fees or cry poor at every agm. There are fates worse and far more stressful than renting. If you need to buy, find a community w decently maintained freehold you can actually afford to pay back in a traditional timeline, even if it means saying goodbye for now to the province-

Let the boomers stay stuck with their rotten old houses, and quietly leaking stratas here. They're the ones who deserve to reap what they've sown over the years- bootstrapping was for everyone but them. don't forget that.

8 15Rating: -7


Apr 12, 2024 at 11:34am

Inflation economics is way more complicated than governments printing money, and is an issue in all western democracies right now. There is no consensus among economists as to what degree the various contributing factors have affected inflation, but among them are supply chain disruptions / complications, corporate profiteering, unsustainable immigration, global conflict, climate change affecting shipping routes and agricultural output, skilled worker shortages, foreign money laundering, etc etc etc, and yes printing money. Reducing political issues into some black and white or platitudinal statement doesn't serve to work towards solutions.

11 7Rating: +4


Apr 12, 2024 at 11:42am

The amazing part is that a monthly payment on a 30 year mortgage isn't all that much less than a 20 year mortgage.

10 years of extra interest payments, payable to the banks by the debt slave.

14 8Rating: +6

Agreed, there is plenty inter-human immaturity

Apr 12, 2024 at 11:54am

upon this Planet of the Apes. BUT - is it helpful to be pointing fingers at others and yelling back at the monkeys? The best I can see it our individual priorities in this World is firstly to take a good look at ourselves in order to upgrade our own mentalities. Learn to properly love life inside ourselves, then spread the Love.

8 9Rating: -1

politics in 2024

Apr 12, 2024 at 12:56pm

I sure hope there's rational discourse, and even less moderation of federal and provincial ideology. Things are a mess and many of the "fixes" are gasoline. No politicians will admit many post 2021 policies(not shutdown related) were the direct cause of our many spiralling crisis', yet both have been in power for 7 and 9 years and people are feeling it. Throwing money at problems is the problem, and every recent "podium" announcement it just that... mo money mo money mo problems.

8 6Rating: +2

Think about it

Apr 13, 2024 at 4:15am

How many people buy a place and stay in it for their whole lives? Very few. 30 year mortgages aren’t new, but they’re new to the younger generations in Canada. The benefit of them is amortizing a payment over a longer period of time, meaning that monthly payments can be lower. Yes, it means you will pay more interest, but if you’re like the majority of people nowadays you don’t have the income to afford huge monthly payments. So you buy a place with a long amortization and you live in it for however many years, then you sell it. You’re not paying that mortgage for the rest of the term, right? You use whatever equity you earned while you lived in the place for a down payment on another place, and if you’re lucky you might not need a 30 year term this time. It would be great if these options weren’t a necessity, but realistically, they are.

5 9Rating: -4

Elections Matter

Apr 13, 2024 at 9:29am

See above.

9 9Rating: 0


Apr 13, 2024 at 12:47pm

On that 700k old East Van apartment you'll be paying about 650k in interest, 150k in strata fees, 80k in taxes, etc. Plus any building problems costing tens of thousands.
So you'll actually be paying over 1.5M plus any repairs.

12 9Rating: +3


Apr 13, 2024 at 3:04pm

You can pass on your mortgage to a family member in Canada. Eventually this will be the new norm, like it is in parts of Japan.

7 6Rating: +1

Mort Gage

Apr 13, 2024 at 3:19pm

Thirty years seems crazy to me. Just imagine the amount of interest that will be paid out! OTOH, I can envision even longer terms. Multi-generational time frames. Where the grandchildren are the ones making the last payment.

7 8Rating: -1

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