REAL ESTATE

Owner occupancy rates are
similar in U.S. and Canada

HOME OWNERSHIP rates
are generally higher in
English-speaking industriali-
aed countries reflecting the
cultural values. dn North
America, despite the dif-
ferences between the mor-
tgage markets and housing
policy. the rate of owner-
occupaney in’ Canada and
the United States is virtually
the same.

Both Canada and the
ULS. have a highly cyclical
housing industry. [In the

S., this bas created some

industry. The tendency to
provide long-term mortzage
financing conflicts with the
short-term deposits required
io fund the mortgages. To

tespond to this volatility of

interest rates, lenders devel-
oped innovative mortenge
products like adjustable rate
mortgages (ARM's).

The ARM perinits lenders
to reduce the spread he-
tween desposits and = mior-
tgages by more closely mat-
ching the terms, thereby
permitting flower interest

teage market is highly de-
veloped in the ULS. and
securitization has also con.
tributed to the supply of
mortgage funds,

Mortgage interest is tas
deductible in the JLS. 04
personal use property but
this appears to have only
marginal impact on the rates
of home ownership.

Canadians are well-hous-
ed, relative to many other
countries in the world, with
less than 2.0% of occupied
housing idemified as inade-

Friday, September 27, 1991 - North Shore News - 61

= “

SUE
416 W. Esplanade
DANIEL North Vancouver

985-8231

See More pave 82 al 7 - |
RIVERFRONT 780 GRANTHAM PLACE OPEN SATISUN 2-4
Only 7 easy minutes to downtown, but a thousand miles from work worries Huge lot over % acre
z On the beautiful Seymour River, split level home totally updated over last few years. Features skylights,
shipdeck flooring in Ivim., 5 pce. ensuite, new kitchen & more! If you are seeking privacy & serenity
— You wiil love this.

problems for the mortgage rates. The secondary mor-

“SERVICE GUARANTEED
IN WRITING

988-2022

#710-333 Brooksbank Avenue
Park & Tilford Centre

~ PRICED TO SELL

Spacious well maintained

two bedroom apt. Magnifi-

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Capilano College with lots

aM oof extras to offer,

O":E (pool/sauna/recreational
; room)

Call Rita to view!
$134,900

Hurry only a few lett. Deluxe 2 bdrm & 2 bath condominiums. Features waterview, security system,
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y oN

PRESOENTS GOD AWARD

ud

“Your Proven Real Estate Team”’

ANNDEE DEVINE ‘SUE GEDGE.

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JUST LISTED!
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820 Lynn Valley Rd.

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