A 5-year fixed mortgage is sitting at 3.29% right now in Canada for Nov. 26, 2011.
According to Newsweek, 55% of American males aged 18 to 24 still live at home. In Canada 60% of kids 20-24 live at home. In Italy, 70% of young adults live at home. And in the United Kingdom, one in three parents are remortgaging their homes to support what are being called "Yuckies" - Young, Unwitting, Costly Kids.
FYI - More millionaires are made during a recession than any other time. Currently the US has 3.1 million millionaires which is up from 2008.
FYI - Real estate is outperforming the stock market, the bond markets and every other investment right now. You want to be in either cash or hard assets right now (and by hard assets I mean rental properties that are producing a positive cash flow). As always, cash is king. Or as my friend in NYC says: he who has the peso, has the say so.
Canada's biggest retail REIT, RioCan, is on an acquisition binge. RioCan Chief Executive Edward Sonshine told analysts on a recent conference call that it would be "quite achievable" to hit an acquisition budget of $800 million "or a bit higher" this year. Previously, the REIT had earmarked $600 million. Transglobe Apartment Real Estate Investment Trust has already spent $740 million buying a ...
I strongly believe another liquidity crisis is ahead. The States air their dirty laundry in public, Europeans do not and Asians most certainly do not. What you read in the media about Europe and Asian is the tip of the iceberg...you're not seeing what is below the surface!