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    #13
    Orderly incremental deflation thru time using "market" rotating thru all sectors....looks like the banks are throwing up a flag. Party over for now in some parts of the resource sector....ripple effect to clobber non resource assets in todays world. Everything lining up/having to deal with global competition, entitlement and governments moving to user pay. Shakey floors on all assets. Opportunity for others.

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      #14
      My understanding is that if you took a $250,000 mortgage, they would put $225,000 into the house payment and give you $25,000 cash to spend, say on new furniture or booze. I will try to check it out.

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        #15
        Omg,did you really hear that sum?

        That scheme was suppose to have ended a few years ago,when it was only 5%!

        Basically letting people get a morgage with no money down.

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          #16
          That would scream "adjustment time" if that's what it takes to move houses. Scary

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            #17
            What is the difference between that and having the seller increase the value of a house over what he wants, cuts a cheque for the increased portion, give it to buyer so he now has a down payment that he can use to get a bank mortgage, and on its arrival return the cheque amount to the seller?.

            People can't borrow $10,000, but no problem getting $500,000, if you have the down payment.

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