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Dominion Lending Centres Macklem Mortgages
#206 - 15388 24th Avenue
Surrey, B.C. V4A 2J2

 

On Air with Candace Newton of "Unlocking Secrets For Women"

Why can't you be a single parent/woman and buy your own home. Listen to the experts, Bill Macklem of Macklem Mortgages and James Hooper talk about how to buy your own home.
Listen to the radio segments here:

Segment 1
Segment 2
Segment 3
Segment 4

 

Nine reasons Canadian banks will come out ahead

 

  • By law, shares of large, publicly traded banks and insurance companies must be “widely held” which in effect prevents domestic mergers or foreign take-over’s unless supported by the federal finance minster;
  • Canadian banks were the 1st in the world to adopt new risk-management rules under Base1 and 11 capital framework
  • Canadian Bank Act requires mortgage default insurance on loans there equity is less than 20%
  • Canadian mortgage payments in arrears in July 2008 were running at historic lows…less than 1/3 of 1%....about 1/6 of what the US experienced in the depths of its 1990’s housing slump
  • Canadian banks approvals of “non prime” mortgages runs at about 5% v the US at 23% inn 2008
  • In Canada the Office of Superintendant of Financial Institutions oversees both commercial and investment banking, in the US only commercial banking has been regulated to the same degree
  • No US bank has branches in all 50 states v all 5 major Canadian banks have branches in all 10 provinces thereby diversifying the risk geographically
  • Canadian Office of Superintendant of Financial Institutions requires chartered banks maintain a minimum Tier 1 capital ratio  of 7%, in the US the minimum is 6%;
  • In the latest quarter, the actual rate Tier 1 capital ratio for Canadian banks was 9.8%...63% above the required minimum

 

 

Positive News & Information

 

  • The loony’s recent tumble serves up a 20% (+/-) advantage for Americans buying Canadian real estate.
  • Average home sale prices in 2002 were $250,000 and $453,000 in 2008, a mere 81% increase. Even with a BCREA forecast of $413,000 in 2009, the appreciation since 2002 would be just 65% over 7 years.
  • Oct 7 2008 IMF predicts Canada will lead the G7 countries in growth at 1.2% in 2009.
  • Canada has 18 domestic banks, the US has 8000.
  • Oct 9 2008 Prestigious World Economic Forum declares Canada has the soundest banking system in the world out of 134 countries, US ranked 44th.
  • There are an estimated 2 million lakes in Canada covering approximately 7.6% of Canada's land area. Canada has more fresh water lake area than any other country in the world.
  • 30-9-08 BC’s Employment rate is 95.4%, text book perfect!
  • 30-9-08 BC’s Consumer Price Index is 1.9%
  • Residential building permits in BC for 2002 were $2.8 billion, and finished 2007 at $8.6 billion, a 271% increase, and 2002 was a great year!
  • BC Commercial building permits in 2002 were $1.1 billion and for 2007 $2.6 billion.
  • YVR Airport Authority generated a profit of 21% in 2007 and its airport is ranked as one of the best airports in the world.
  • YVR Airport Services now provides services in airports in 7 countries handling over 49 million passengers annually, and generates a double digit profit.
  • GE costs will drop 28% in 2009, yielding its most significant competitive pricing advantage ever.
  • OPEC decided to cut production by 2%, the largest single decline in over 8 years, 8 years ago was when the healthy economic conditions began.
  • Thursday November 20, the price of oil is approximately 34% of its peak price of $147/bbl in June, 2008.
  • BC now has the lowest provincial personal tax rate of any province in Canada. Provincial corporate tax rates are 1/3 less today than in 2001.
  • Provincial government investment in education has grown 30% in the past 7 years, and investment in health care has risen 60% in the same period.
  • Today BC has 33000 more university seats than in 2001.
  • Out of all Canadian provinces, BC is least dependant on the US market.
  • Mining drilling rights sold in BC this year in the first 6 months of 2008 doubled the previous ANNUAL record.
  • Technology employment in BC is growing faster than in any other sector in the province.
  • 2010 - The largest television audience in history! Three billion people will watch the Vancouver Whistler Winter Olympics in 2010.
  • A new RBC study conducted during the market turmoil in October finds Canadians overall have intentions to purchase a home in the next two years remain steady at 22 per cent and have not changed since January 2008. As well, renovation intentions are slightly higher than last year – up four percentage points as
  • 70 per cent of respondents are planning to renovate or make home improvements in the next two years.

 

“Be fearful when others are greedy, and greedy when others are fearful”….Warren Buffet’s principal investment strategy.

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