Subprime Mortgages and the Problems South of the Border and other stuff

One of the concerns we have in the Real Estate Industry is that people in our area will listen to all the doom and gloom in the news about subprime mortgages and become concerned about out economy here at home and then stop doing what they have been doing for the last decade. (Really long sentence!)  Anyway, there is nothing to fear here in the Hub of the Maritimes.  We are generally doing fine.  Our bankers, God bless their suspenders, have generally not lost their minds and their solid lending practises as have their peers to the south.  We do have 40 year mortgages and 0% down payments but the difference is north of the 49th parallel you have to have spotless credit to go along with it.  Only those people who have demonstrated the ability to handle debt get the opportunity to enjoy these more relaxed terms.  So keep the economy moving by buying cars and houses and appliances and all those other things that keep the money turning over.  To stop and hunker down will make the news a self fulfilling prophesy!

One of our biggest concerns in NB at this time is finding enough workers to fill the job market.  With the boomers all rapidly approaching retirement, it's only going to get worse.  That is why the Provincial Government is working on increasing our population by 100,000 over the next 20 years or so.  They hope to do this through repatriation of Maritimers from other Provinces, increasing job possibilities so our children do not have to leave to get a job, and through increased immigration.

I have the pleasure to be on the new Immigration Board of Greater Moncton.  It was formed through a joint effort of the Greater Moncton Chamber of Commerce and Enterprise Greater Moncton.  Our role is to find areas of difficulty in the entire immigration process and try to lobby someone to correct it.  We have a brand new EO, and our office is being set-up in City Hall courtesy of the City.  The three municipalities have banded together to provide our operational funding for the next three years so they are to be commended for putting their money where the Province's mouth is.

Paul Burns

Paul Burns

CENTURY 21 A & T Countryside Realty Inc.
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