Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - House Appraisal before mortgage gets insured

photon · 06-19-2006, 04:39 PM

I guess the risk would be if the $300,000 mortgage they just insured is now secured against an asset worth $285,000 and you defaulted.

But I agree with you, I don't think this is going to "pop" like some folks think. Part of a bubble is rampant speculation. Vancouver has rampant speculation. 67% of the average salary goes towards the cost of an average house there. That's nuts. Alberta is still at 33%. Affordability is still very high here.

06-19-2006, 04:39 PM	#20
photon The new goggles also do nothing. Join Date: Oct 2001 Location: Calgary Exp:	I guess the risk would be if the $300,000 mortgage they just insured is now secured against an asset worth $285,000 and you defaulted. But I agree with you, I don't think this is going to "pop" like some folks think. Part of a bubble is rampant speculation. Vancouver has rampant speculation. 67% of the average salary goes towards the cost of an average house there. That's nuts. Alberta is still at 33%. Affordability is still very high here. __________________ Uncertainty is an uncomfortable position. But certainty is an absurd one.