Coronavirus Update: Too soon? A look at the risks of returning to prepandemic life

Local residents pick asparagus as they work at Dyas Farms in Sevenscore, Britain April 16, 2020. Picture taken April 16, 2020. By Dylan Martinez/REUTERSMy finances aren’t rock solid, but could now be a good time to buy a home?a home with the minimum down payment. So warns Canada’s most vocal housing official.

"A first-time home buyer purchasing a $300,000 home with a 5-per-cent down payment stands to lose over $45,000 on their $15,000 investment if prices fall just 10 per cent, which we are forecasting,” Evan Siddall, chief executive of the Canada Mortgage and Housing Corp. , told a parliamentary committee earlier this week.

This fate could affect a large cohort if they’re forced to realize those losses. An estimated one in three first-time buyers and one in eight new mortgages have less than 10-per-cent equity. Most such folks are putting down just 5 per cent, which, after default-insurance fees, leaves them almost 100-per-cent financed.

If you’re anxious to own a home, I don’t blame you. But if you’re not rock-solid financially, renting a bit longer is sensible risk management.

In Ontario they tossed out the ALC (bedblockers) into the LTC homes spreading the virus. This was to free up hospital beds. In 2 months those same beds are full again with ALC people with nowhere to put them now. There is no meaningful life in LTC. We need to stop pretending.

Nothing wrong with this picture!

I guess these sensible people didn’t have a ride (or an inclination) to go to Trinity Bellwoods. Good for them.

The nervous nellies are almost always people who are still getting paid no matter what. Oh how their tune would change if they had to take a personal hit to their fortune.

'we need everyone to stay inside for 15 days while we flatten the curve. This thing has a 1%-3% fatality rate' 70 days later... 'this thing has a 0.1% fatality rate and primarily among elderly and infirmed. We'd better wait for a cure. These ratings are too good to give up'

Never felt better

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