Interest Rate Reset Risk

[robert james]

We spent the week-end in Victoria and I had a chance to talk to my nephew as he came over for a visit.. He works for a big bank in Vic. It seems that the banks have the same perspective on this R/E bubble as most bears.. When the recent buyer`s rates reset within the next 5 years things are going to get very ugly.. Of course the banks are having a chuckle over it thanks mainly to CHMC,,but he did mention that 40% to 50% prices drops in R/E prices are to be expected..

[MikeStewartRealtor]

Hi Austin,

Lol!

Sure!

As long as my non-refundable retainer of $10K is paid in advance...

Realtors work for money, just like anyone else. They serve others to make this money. Smart Realtors don't bite the hands that feed them.

Hi Grantness,

Good to hear you're working with better people.

Anyway.

When do you guys think rates will begin to climb?

[vreaa]

“It seems that the banks have the same perspective on this R/E bubble as most bears. 40% to 50% price drops are to be expected.”
robert james quoted.