tag:blogger.com,1999:blog-17649054.post853548551073770814..comments2023-10-04T12:55:21.955-04:00Comments on Mississauga Real Estate, Homes, TREB & MLS Blog by Mark Argentino: Have you heard of the new 50 Year Mortgage?Mark Argentinohttp://www.blogger.com/profile/10720520986774448200noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-17649054.post-57899851517163323292008-04-04T16:23:00.000-04:002008-04-04T16:23:00.000-04:00Thanks for your comments.I totally agreee with you...Thanks for your comments.<BR/><BR/>I totally agreee with you that these mortgages are a sign of bad things to come, especially for first time buyers. My advice has always been to make your mortgage 20 years or less from the beginning, not only will you save a pile of interest, but you will pay that mortgage off in your 40's rather than 60's<BR/><BR/>I don't think we will have a recession or crash in the GTA, I think things will slow, but not crash and burn. Only time will tell.<BR/><BR/>All the best!<BR/>MarkMark Argentinohttps://www.blogger.com/profile/10720520986774448200noreply@blogger.comtag:blogger.com,1999:blog-17649054.post-22593248113918625662008-04-04T12:10:00.000-04:002008-04-04T12:10:00.000-04:00Simply idiotic. 40 year mortgages are bad enough....Simply idiotic. 40 year mortgages are bad enough. 50 years!!! Are you kidding me?!?! If this isn't proof that home prices are WAY too over inflated, and knock some common sense into first-time buyers, I don't know what will. The ever elusive chase to catch up with the Jones' will be our society's downfall.<BR/><BR/>Japan thought they were creative bringing in 100 year mortgages at the height of their housing bubble in 1989/1990. Their market has crashed for 18 years now. Even their stock market is 1/3 today of what it was then. It's a good bet we are heading down a similar path.<BR/><BR/>Prospective First-Time Home Buyers: Don't buy now! You will not be priced out forever!! Homes are not investments, they are only wooden boxes that cost you money to fix. In a few years, after the recession, home prices will be half of what they are now, so save your money and wait.Anonymousnoreply@blogger.com