Comments on: Awash in a sea of debt http://www.jacksnewswatch.com/2010/02/04/awash-in-a-sea-of-debt/ Jack's Newswatch - You can fool some of the bears all of the time, and all of the bears some of the time, but you can not fool all of the bears all of the time — Jack's Newswatch Sun, 12 Feb 2012 22:48:26 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Cy http://www.jacksnewswatch.com/2010/02/04/awash-in-a-sea-of-debt/#comment-11919 Cy Thu, 04 Feb 2010 22:00:56 +0000 http://www.jacksnewswatch.com/?p=10257#comment-11919 It means you're in a great position because you bought your house at a point of high interest. Thus as time went along and interest rates dropped - 1) The value of your house increased, as the cheap interest rates (ie cheap money) attracted more new and second time buyers to the market 2) Your monthly mortgage payments either decreased or went in greater amounts towards the principal. You saved $1000's in interest payments What Canadians are doing right now is listening to their real estate agents, who are telling them that since we are at a point of low interest, it is "cheaper than ever" to buy a house. People who fall for that will experience the opposite of what you enjoyed since interest rates have nowhere to go but up and our oil-driven dollar can't be held down for much longer. I'll stay in my apartment for now, thanks. It means you’re in a great position because you bought your house at a point of high interest. Thus as time went along and interest rates dropped -

1) The value of your house increased, as the cheap interest rates (ie cheap money) attracted more new and second time buyers to the market
2) Your monthly mortgage payments either decreased or went in greater amounts towards the principal. You saved $1000′s in interest payments

What Canadians are doing right now is listening to their real estate agents, who are telling them that since we are at a point of low interest, it is “cheaper than ever” to buy a house. People who fall for that will experience the opposite of what you enjoyed since interest rates have nowhere to go but up and our oil-driven dollar can’t be held down for much longer. I’ll stay in my apartment for now, thanks.

]]> By: Jack http://www.jacksnewswatch.com/2010/02/04/awash-in-a-sea-of-debt/#comment-11918 Jack Thu, 04 Feb 2010 21:42:04 +0000 http://www.jacksnewswatch.com/?p=10257#comment-11918 <p>I don't understand this but real estate prices here in "Tinselburg" <a href="http://cm.filogixdms.com/cm/properties/properties.html?key=23462,10017451,2454502" rel="nofollow">are in line with the story</a>.</p> <p>I'm not complaining at the moment.</p> <p><input id="gwProxy" type="hidden" /><input id="jsProxy" onclick="jsCall();" type="hidden" /></p> I don’t understand this but real estate prices here in “Tinselburg” are in line with the story.

I’m not complaining at the moment.

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