jm + mortgages   3

The Problem Isn’t Vancouver’s Astronomical Housing Costs— It’s the People Who Buy
Two types of people own homes in Vancouver — wealthy foreigners who are looking for a place to park their money, and long-time Vancouver residents who have benefited from skyrocketing equity, through no actual effort of their own. There is a simple problem with these people being the primary homeowners in any city — they don’t actually create much value for the place they live in.

A very large percentage of wealthy foreigners who “park” their money here don’t actually live in Vancouver. Take a drive around most expensive areas and you’ll realize the homes are empty. At most, they send their kids to live in Vancouver, learn english/go to school, and then return to their country (usually to Hong Kong). For some reason this is okay with people who live here. The amount of value added to a city from this sort of activity approaches zero. In fact, I’d argue that these people actually leech off of the system more than anything else.
vancouver  housing  mortgages  investment  canada  homeowners 
october 2014 by jm
How would my finances change if euro collapsed? - RTÉ News
RTE's sketch of the repercussions of a Euro collapse for Irish consumers. basically: you won't have any finances, particularly if you have a mortgage
ireland  euro  disaster  rte  finance  money  mortgages 
december 2011 by jm
Permanent TSB's tracker-mortgage paydown option isn't such a good deal after all
'it might be in your interest if you have a tracker mortgage and are unable to get a better rate of interest on the €5,000 that you are being tempted to repay PTSB. You can get up to 4.2% from PTSB deposit accounts, 9.7% from 10-year Irish sovereign bonds, 9% from residential property. Yet PTSB is prepared to give you less than a measly 2% over a five year period on your €5,000 repayment.'
ptsb  permanent-tsb  finance  money  mortgages  tracker-mortgage  investment  from delicious
april 2011 by jm

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