There has been a lot of negative press recently since the Government of Canada eliminated a zero down payment 40 year mortgage.  But I like to have a positive outlook on life and here are some positive spins on some negative news:

1.  Mortgage Rates are still at an all time low.  There was a time in the early 80's when mortgage rates were 18% and higher.  At that rate how could you ever pay down your principle.  Now the 5 year discounted rate is 5.47%.  That is a great deal!

2.  Sales of homes are down from last year.  Well, we had a great 13 year run with the market beating itself over and over again.  Economies are cyclical.  A rise is usually followed by a correction or fall.  These cycle usually happen every 5 or so years.  What are complaining about?  13 years is amazing.  Yes, housing prices are still rising but unemployment is around 6%.  Quite healthy, really.

3.  The banks are losing money from investing in the US Mortgage Market.  There is a silver lining to this as well.  Bank stock prices are on the decline but historically banks have been a very good place to put your money.  Now don't take my word for it since I am not an investment adviser, but I would be calling yours and asking him or her to watch the stocks for you and decide a good time to buy.

4.  If we are in such trouble in the real estate market, why are there 41,230 housing starts in the GTA this year of which 18,390 were apartments and condos (numbers provided by CMHC).  Someone has to be buying these.  And with new homes being built often there is a shortage of skilled trades available like drywallers and bricklayers.  Looks like an opportunity to me.

5.  Gas prices are rising.  Now is the time to explore alternative energy sources.  It has been a long time since I completed my Grade 8 Science Fair Project entitled "Go Solar!"  But once again opportunity knocks.  Here is a whole new area for company growth, which in turn will feul the economy and real estate sales.

I think we are on the cusp of some very important changes and as the old song by Johnny Mercer goes "You've got to accentuate the positive
Eliminate the negative
And latch on to the affirmative
Don't mess with Mister In-Between".

No Mister (Or Mrs.) In-Between thinking here.  Let's take advantage of the opportunities life is presenting us with!

Comments please.