It and other places were overruled by BC government.

You are right I was not keen on them. Just google ‘reverse mortgage problems’ and you realize there may be issues with some providers. So get advice on the institution and have your lawyer read the docs. But I ran across a situation which I discussed with Kyle Green on this video.

Let’s say you are 65, you live in a – say $2 million house and would like to stay there. You have two struggling kids. You could take a mortgage for $1 million and pay $500,000 to each kid. They have a downpayment without interest payments and you make no payments on the mortgage either. They get the house anyway once you die… This way it’s earlier and no proverbial of skin of your nose.

All you read here is opinion. You MUST check this out with your accountant. Under current capital gains tax rules, you can defer your taxes on your capital gain if you carry back financing … for up to 5 years. Spreading it out always helps. However, if you do it before June 25 will it apply to the current (April 21) rules or the new rules?

Go to Kyle Green’s website.

As Bugs Bunny used to say: “Aaaaah, Shut up!” 60 is the new 40! Study this! Where do you fit in? A book review published in the New England Journal of Medicine found at age 60, you reach the TOP of your potential, and this continues into your 80s. Therefore, if you are 60-70 or 70-80 you may have the best and 2nd best opportunity in your life to produce meaningful accomplishments that can leave a lasting positive legacy.

• Ray Kroc founded McDonalds at 59.
• Colonel Sanders founded Kentucky Fried Chicken at age 66.

YOU ARE A BABY! NOTE:

The average age:

• of NOBEL PRIZE winners is 62.
• of CEOs of BIG companies is 63 years.
• of pastors of 100 largest churches in the U.S. is 71.
• of the Popes is 76 years.
• of US presidents and 70% of all countries Premiers or Presidents are over 70

(From Michael Geller and Richard Raisler.)

What you have learned in a lifetime, what you have in your head will take a newbie 15 years to learn! Value it, cherish your experiences, your understanding, your caring and learn the new AI things, you can!

David Rosenberg and others would agree with you. Again, remember, what kind of inflation are we talking about? The monetary driven hard asset inflation? Or the headline, core (8 kinds of) or CPI/PPI? There is a difference. I look at hard asset inflation. Look at stocks below as well – soaring, real estate rearing quietly? Well, even the Government reported inflation rates are showing increases month over month both in US and in Canada. The actual rates are still soaring (did you go shopping lately, eat in a restaurant, look for a rental, pay gas, buy  a car?). The stock markets are soaring– say inflating. 

Note: Victor Adair (https://victoradair.ca/subscribe/) writes in its incredibly accurate newsletter (still free) that the Euro Stoxx 50 (a European version of the DJIA) has rallied ~20% to 23-year highs. The Japanese Nikkei is up ~27%, just a few points away from touching the All-Time Highs made in 1989. The Toronto Composite Index closed this week at a 22-month high, up ~17% from the October lows, and in the US the DJIA, S&P and the NAZ made new All-Time Highs this week but closed lower on the weekly charts.

NOTE: I grant you; it is confusing. Large TECH cos layoffs muddy the waters indeed. We stick with our multi year predictions. All the money creation will result in higher asset prices. But we must ‘muddle through’ first.

True and stock markets are soaring. Confusing. The major layoffs in major tech companies tells a story in the US and Europe. In Canada we just had Bell lay off 4,300 people.  At the same time we can’t get enough construction workers, health workers all service sectors.

 There is indeed some 135 billion of mortgages in 2024 and some 350 billion in 2025 coming due in Canada. The US commercial market is in serious trouble. I DO believe we will muddle through, but for now I would be much more comfortable on the sidelines.  

I make it clear that I put it in only to highlight any false euphoria. The high SF price in January’s FV SF home price was indeed higher than January 2023 by 14% ($1,500,000) but it achieved a high of $1,900,000 in February 2022.

1. Actually we ‘nailed it’ in 2021 when we told you about this and other collapsing Chinese companies building in London and LA. Revisit issue No 64! An excerpt:  
2. Chinese developer woes are crushing Chinese and emerging market high yield debt. Typical China problem. Companies do not report losses…that is why it waits until a big crash forces the report. Surprise! 
3. Evergrande, which has more than $300 billion in liabilities and 1,300 real estate projects in over 280 cities – means that cities like London will see their  real estate markets (likely) get under pressure as it cannot finish projects.

Nothing more to tell, Empty cities, crashing economy, a 40% decline in its stock market… China is in depression. However, money will continue to try and flee and some of it will find its way here!