Ted Zaharko Calgary said -the Canadian economy is strong and in regards to business of adjusting to the credit crunch that was created by the subprime nonsense in the U.S.A this issue will be managed.
We will carry on, just like we managed after the economic disaster of the early 80's. Suprime lending was never available in CAnad and it should not have in the United STates either. People just got greedy and now everyone is paying for that.
His other comments eluded to the fact that this spring market in Canada should be good.
We are not predicting few sales, and lower average prices from what they were last year.
2-4% is the predicted increase in values.
SUBPRIME LOAN DEFINITION: -
A loan that is offered at a rate above prime to individuals who do not qualify for prime rate loans.
Notes:
Subprime loans tend to have a rate that is 0.1% to 0.6% higher than the prime rate. Although the additional percentage may seem small, for mortgages and other large loans, this translates to thousands of dollars worth of additional interest payments.
Subscribe to this Site
Comments for "HOW THE U.S. MARKET WILL IMP...
December, 2007