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View Poll Results: In 2013, would you BUY or would you RENT?
- Voters
- 32. You may not vote on this poll
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Better to Buy
21 65.63% -
Better to Rent
8 25.00% -
Don't know
3 9.38%
Multiple Choice Poll.
Results 91 to 102 of 102
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Wed, Aug 7th, 2013, 07:02 AM #91
Once again, it appears that the mortgage rates will be increasing without the government changing the overnight rate. This time it is due to limiting the banks' access to CMHC insurance. Since banks may have to take on more of the risk in writing mortgages, they will either raise their rates, or decide to not grant some mortgages.
People have to learn that the market, not governments, set the mortgage rates (particularly the long term rates).
ps. A bit of trivia. A lot of people think that CMHC insurance is great because it protects them in case they are unable to make payments in future. This could not be further from the truth. You may pay for the insurance, but it protects the banks, not you. Ultimately, as far as you are concerned, the only difference it makes is that if you cannot meet your payments, the CMHC will foreclose on you, not the bank.
CMHC insurance is a really, really bad idea. It allows banks to keep the profits of mortgages, but unload their losses to the taxpayer.
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Sat, Aug 10th, 2013, 04:12 AM #92
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We were so close to buying last week, however after doing the numbers and the way the market is going we decided to wait. We will continue to rent and save even more for the down payment.
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Sat, Aug 10th, 2013, 07:46 AM #93
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Sounds like a good idea. Not an easy market. It's hard for people to break with tradition about seeking out and buying a home. I think they said that if you are already in a home, stay there. But if you are not there yet, think about it before diving in. You have done lots of thinking it seems. Great!
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Tue, Aug 13th, 2013, 07:52 AM #94
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Kevin O'Leary was on Steven and Chris show and also said renting is better than buying in 2013
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Tue, Aug 13th, 2013, 08:01 AM #95
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Kevin O'Leary was on Steven and Chris show and also said renting is better than buying in 2013
(at 5:11 in the video)
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Tue, Aug 13th, 2013, 10:24 AM #96
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Interesting. I know I really have a buying itch right now. I really want a home. If I could rent a house I would, but it is very difficult to find a house to rent. I am tired of sharing walls with neighbours and having sketchy neighbours. It does not matter where I rent, it seems that I always end up with awful neighbours.
Try out the maven box by julep And code FREEFB, and get your box for one cent:
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Tue, Aug 13th, 2013, 11:31 AM #97
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Wed, Aug 14th, 2013, 06:00 AM #98
Garth Turner, our former Finance Minister weighs in:
http://www.greaterfool.ca/2013/08/13/renting/
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Wed, Aug 14th, 2013, 10:58 AM #99
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Thu, Aug 22nd, 2013, 01:03 PM #100
For the fourth time in eight weeks, mortgage rates are up again, without any change in the Bank of Canada rate.
This increase has affected real estate sales. Number of sales always drops before prices. It is still (typically) far cheaper to rent then buy, but my feeling is that this is now starting to change.
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Thu, Aug 22nd, 2013, 01:23 PM #101
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I think some of it depends on where you are in your life. If you are a brand new married or career single and have only just started your job/business etc - I would venture a guess that renting really is the preferred market for now. However, if you have lived in your area for a few years and know you are planning on living there for a minimum of 5-10 years - then I cannot see how the renting would be a better option. Putting out $1500 in rent (per the original question) - would be better put into your mortgage that is payable on a weekly basis.
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Wed, Aug 28th, 2013, 01:12 PM #102
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We found out that we could get a house in our area, 3 bedroom, new, including property taxes for $100 per month than what we pay in rent. I am aware that there are other costs in home ownership over and above renting. We pay a rent that we are comfortable with but for a small two bedroom apt. To know that for a couple hundred dollars more we could have more privacy and space, it is appealing.
Try out the maven box by julep And code FREEFB, and get your box for one cent:
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