Quote:
Originally Posted by chemgear
http://www.financialpost.com/news/Ho...950/story.html
One industry veteran paints a bleaker picture from the trench.
“We’re no different from Americans, that’s for sure,” says John Cocomile, a broker with GreedyMortgage.com in Toronto. He says of 100 first-time homebuyers he arranged mortgages for in the past three years, 95 of them took the longest amortizations possible.
“Generally homeowners are not conservative. They want the most they can get.”
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I have no significant vested interest in this debate, but I do wonder if homebuyers that shop for mortgages at Greedymortgage.com are representative of the majority of homebuyers?