Although no one likes to pay more each month than they once did, the net result will be that homeowners will build
equity in housing faster and therefore increase their net worth.»
Not exact matches
In the U.S., he said,
housing will «always remain as a primary playbook for stimulating the U.S. economy» and «homeowners will continue to believe that increased home
equity is a
faster highway to creating wealth than accumulating wealth by working for a living.»
The financial affliction of negative homeowners»
equity,
in which the
house is worth less than the mortgage due, is
fast fading.
• Unlike
in the U.S., underwriting standards for qualifying mortgage borrowers
in Canada have been maintained at prudent levels resulting
in mortgage borrowers here being much more creditworthy; • Canadian mortgage lenders never offered low initial «teaser» rate mortgages that led to most of the difficulties for mortgage borrowers
in the U.S.; • Most mortgages
in Canada are held by their original lender, not packaged and sold to third parties as is typical
in the U.S., and consequently, Canadian mortgage lenders have a vested interest
in ensuring that their mortgage borrowers are creditworthy and not likely to default; • Only 0.3 % of Canadian mortgages are
in arrears versus 4.5 %
in the U.S. and what even before the start of the U.S.
housing meltdown two years ago was 2 %; • Canadians tend to pay down their mortgage
faster than
in the U.S. where mortgage interest is deductible from taxes, which encourages U.S. homeowners to take
equity out of their homes to finance other spending, a difference that is reflected
in the fact that
in Canada mortgage debt accounts for just over 30 % of the value of homes, compared with 55 %
in the U.S.
Recognised as the leading legal adviser to funds across the Channel Islands, and with
fast - growing Caribbean and Asia practices, our clients
in the private
equity sector include the world's leading private
equity houses, international banks and financial institutions, as well as specialist private
equity real estate and infrastructure funds.
The
housing picture is likely to improve
in 2018: Home prices are expected to climb, but not as
fast More
houses could be for sale toward the end of the year, giving home buyers a greater selection to choose from Homeowners will have more
equity to borrow from Yet
in other ways, 2018 might continue...
Because you are building
equity faster, more of your money is tied up
in a pool of savings that you can access only by selling the
house or borrowing with a HELOC or home
equity loan.
Multifamily Tax Items • Extends the 9percent LIHTC credit rate for allocations through the end of 2013; absent the credit fix, the LIHTC program would suffer a loss of
equity investment for affordable
housing projects • Extension through the end of 2013 of base
housing allowance rules for affordable
housing Also noteworthy are items that are not
in H.R. 8, including an itemized deduction cap or a defined
fast - track tax reform process.
«As active as the market is with the product that we have today, we are looking at the tip of the iceberg
in terms of boomers hitting retirement age,» says Scott Stewart, a managing partner at Capitol Seniors
Housing, a private
equity - backed real estate acquisition, development and investment management firm based
in Washington, D.C. «The
fast - paced growth of that population
in that sector is going to make today's discussion of overbuilding obsolete, because there just aren't enough places for everybody today,» he says.