Mattamy bases its profit on blood of normal people. The president need know that a good business need benefit for both sides, instead of just one side makes super profit but another side is bleeding to death.
A
Anonymous
8 years ago
I bought a preconstruction house in Stouffville but now price drop 35% and can not afford to close and may loose big deposit also builder may sue me too
D
David Robinson
8 years ago
Maybe don't buy more than you can afford?
Not taxpayer's problem. GREED here. Deal with it.
A
AliF
8 years ago
Mattamy needs to listen to its customers who are in distress. Question is, can it show character?
A
Aavnaa
8 years ago
Does anyone know what was Mattamy's reply to Mayor's letter ?
N
NeutraView
8 years ago
The regulations passed regarding foreign buyers tax and particularly the stricter lending criteria, has had adverse effects on the economy and on the buyers. When bringing in the new laws the government should have stated, that "stress testing rules would not apply to contracts that have already been signed with builders". This way, the home buyers would not got a double whammy, one, from the falling market value of existing homes, and two, from the lower borrowing capacity. Once a closing stops, it stops a whole chain of transactions down the line. It appears that the decision, on the governments part, was not properly thought out. In case of Mattamy, there is a need to collectively bargain with them.
M
Many Morons
8 years ago
Everyone complaining about the housing market, and losing money purchasing at peak, needs to realize they made their own mistakes and that’s life. If you couldn’t afford a million dollar house and we’re relying on a large mortgage or windfall from a current home sale, you are an idiot.
Markets go up and markets go down. There are winners and losers.
Sorry but no, the people of this great country should not be bailing you out. The government added measures, but they are not the only reasons the market was faltering. Interest rates are going up, everyone knows this.
You guys made bad life decisions. Sorry.
D
Donald Trump
8 years ago
Kathleen Wynn shouldn't of been allowed to raise interest rates. The public (voters) did not vote on this law. far as I'm concerned its ilegal and cannot be enforced!
D
Donald Trump
8 years ago
Agreed, I would rather spend more money. government has artificially suppressed the price of eggs and dairy by implementing punitive foreign tariffs. Just a foreign buyers tax in disguise
W
wei
8 years ago
The government policy does not make house more affordable. Though the price went down, fewer money can be borrowed under the new rules.
A
Anonymous
8 years ago
Govt. should not support this morons.
They are gamblers. because of these people prices in GTA gone this much high. Let them beg in the street.
S
Suhail Hafeez
8 years ago
This is real! Judges siding AGAINST home buyers at peak. Similar problem this time with resale and seller sued for half a million and WON! Mattamy is serious! They will bankrupt us. This affects my health. I will get heart attack one of these days. https://www.thestar.com/news/gta/2018/04/11/couple-ordered-to-pay-470000-after-reneging-on-stouffville-home-deal.html
A
Ayad Mohammad
8 years ago
Please be fair with the first home buyer as I bought the house in the peak and now the price of the house is less by $200,000 than purchase price and I am facing a tough time to get Mortgage
K
Kevin Zhang
8 years ago
Is government policy change out of buyers control?
N
NeutraView
8 years ago
I am also affected by Mattamy's 'cold shoulder' attitude. It is absolutely necessary that perhaps all try to go a 'combined relief'.
A
Anonymous
8 years ago
Please include other builders and people in your argument. This is not all about Mattamy and a group of 100 people or so. Anybody who signed a contract with a builder in GTA in the first half of 2071 is in the same boat. This needs to be escalated beyond a specific builder.
A fair housing plan is only fair when it includes builders too. Builders had a strong role in the bloated pricing and should have been part of this plan.
F
Fatima Jangjou
8 years ago
My story:
I purchased a lot from Mattamy located in Kleinburg, Ontario in Feb 2017 closing Nov 2018, and right after changing rules by government, I have been contacting them to either switch my lot with a smaller home or return it, but I had no luck. Now, I am not able to sell my home.
Mattamy accepted my financial conditions on the day of signing the agreement being:
1) Selling our existing residential home, 2) Obtaining mortgage approval
However neither of those conditions can be met with the new government rules by applying very tight conditions for mortgage approval as well as slowing down and almost stopping resale of an existing house. I told them that I cannot afford this lot asking them NOT to build it for me. I have been telling them since April 27, 2017, but I had no luck.
What happened in Sales office on the day of signing sales agreement?
a) I told the sales person that I do not have any cash money for this lot, and I am going to sell my existing house and apply for a mortgage. The sales person said that this is a normal procedure and won’t be any problems. That means Mattamy had accepted our financial condition being selling my home.
b) I asked the sales person for a copy of sales agreement to consult with a lawyer, but he said, “This is not possible and the contract is a normal contract so nothing to be worried about”, and he said that we can have it after signing the agreement not before. This was forcing me and my husband to sign so many pages of agreement in less than an hour. So, we didn’t know what we signed that has given a lot of power/rights to Mattamy to bullying us.
Fatima
D
David Robinson
8 years ago
Hahahahahaha
K
KB
8 years ago
The people who have all of a sudden become experts- please stop, it is easy to talk and write now when you are not in this bad situation
I would like to know what the builder knew at the time of selling- they have not sold the rest of the project- I hope they provide a written statement as to why they have not sold the rest
Mattamy is staying quiet and that says a lot.
Mattamy please help your buyers
Saying they signed a contract is correct- but Mattamy knows well the contract is written by their lawyers only for their benefit
The price was NOT Negotiable
Over the years, Mattamy has closed on projects of homes/townhouses that were in a bad, not move in condition- it was on different news reports
So Mattamy does not honour its own contracts either! (but they get away with it)!
K
KB
8 years ago
Who ever has this problem- email the builder right away!!
Mr. Carr does not seem to think there is a problem
If he gets people saying they may walk away Mattamy may start helping people because the list may grow of buyers walking away
Mattamy bases its profit on blood of normal people. The president need know that a good business need benefit for both sides, instead of just one side makes super profit but another side is bleeding to death.
I bought a preconstruction house in Stouffville but now price drop 35% and can not afford to close and may loose big deposit also builder may sue me too
Maybe don't buy more than you can afford? Not taxpayer's problem. GREED here. Deal with it.
Mattamy needs to listen to its customers who are in distress. Question is, can it show character?
Does anyone know what was Mattamy's reply to Mayor's letter ?
The regulations passed regarding foreign buyers tax and particularly the stricter lending criteria, has had adverse effects on the economy and on the buyers. When bringing in the new laws the government should have stated, that "stress testing rules would not apply to contracts that have already been signed with builders". This way, the home buyers would not got a double whammy, one, from the falling market value of existing homes, and two, from the lower borrowing capacity. Once a closing stops, it stops a whole chain of transactions down the line. It appears that the decision, on the governments part, was not properly thought out. In case of Mattamy, there is a need to collectively bargain with them.
Everyone complaining about the housing market, and losing money purchasing at peak, needs to realize they made their own mistakes and that’s life. If you couldn’t afford a million dollar house and we’re relying on a large mortgage or windfall from a current home sale, you are an idiot. Markets go up and markets go down. There are winners and losers. Sorry but no, the people of this great country should not be bailing you out. The government added measures, but they are not the only reasons the market was faltering. Interest rates are going up, everyone knows this. You guys made bad life decisions. Sorry.
Kathleen Wynn shouldn't of been allowed to raise interest rates. The public (voters) did not vote on this law. far as I'm concerned its ilegal and cannot be enforced!
Agreed, I would rather spend more money. government has artificially suppressed the price of eggs and dairy by implementing punitive foreign tariffs. Just a foreign buyers tax in disguise
The government policy does not make house more affordable. Though the price went down, fewer money can be borrowed under the new rules.
Govt. should not support this morons. They are gamblers. because of these people prices in GTA gone this much high. Let them beg in the street.
This is real! Judges siding AGAINST home buyers at peak. Similar problem this time with resale and seller sued for half a million and WON! Mattamy is serious! They will bankrupt us. This affects my health. I will get heart attack one of these days. https://www.thestar.com/news/gta/2018/04/11/couple-ordered-to-pay-470000-after-reneging-on-stouffville-home-deal.html
Please be fair with the first home buyer as I bought the house in the peak and now the price of the house is less by $200,000 than purchase price and I am facing a tough time to get Mortgage
Is government policy change out of buyers control?
I am also affected by Mattamy's 'cold shoulder' attitude. It is absolutely necessary that perhaps all try to go a 'combined relief'.
Please include other builders and people in your argument. This is not all about Mattamy and a group of 100 people or so. Anybody who signed a contract with a builder in GTA in the first half of 2071 is in the same boat. This needs to be escalated beyond a specific builder. A fair housing plan is only fair when it includes builders too. Builders had a strong role in the bloated pricing and should have been part of this plan.
My story: I purchased a lot from Mattamy located in Kleinburg, Ontario in Feb 2017 closing Nov 2018, and right after changing rules by government, I have been contacting them to either switch my lot with a smaller home or return it, but I had no luck. Now, I am not able to sell my home. Mattamy accepted my financial conditions on the day of signing the agreement being: 1) Selling our existing residential home, 2) Obtaining mortgage approval However neither of those conditions can be met with the new government rules by applying very tight conditions for mortgage approval as well as slowing down and almost stopping resale of an existing house. I told them that I cannot afford this lot asking them NOT to build it for me. I have been telling them since April 27, 2017, but I had no luck. What happened in Sales office on the day of signing sales agreement? a) I told the sales person that I do not have any cash money for this lot, and I am going to sell my existing house and apply for a mortgage. The sales person said that this is a normal procedure and won’t be any problems. That means Mattamy had accepted our financial condition being selling my home. b) I asked the sales person for a copy of sales agreement to consult with a lawyer, but he said, “This is not possible and the contract is a normal contract so nothing to be worried about”, and he said that we can have it after signing the agreement not before. This was forcing me and my husband to sign so many pages of agreement in less than an hour. So, we didn’t know what we signed that has given a lot of power/rights to Mattamy to bullying us. Fatima
Hahahahahaha
The people who have all of a sudden become experts- please stop, it is easy to talk and write now when you are not in this bad situation I would like to know what the builder knew at the time of selling- they have not sold the rest of the project- I hope they provide a written statement as to why they have not sold the rest Mattamy is staying quiet and that says a lot. Mattamy please help your buyers Saying they signed a contract is correct- but Mattamy knows well the contract is written by their lawyers only for their benefit The price was NOT Negotiable Over the years, Mattamy has closed on projects of homes/townhouses that were in a bad, not move in condition- it was on different news reports So Mattamy does not honour its own contracts either! (but they get away with it)!
Who ever has this problem- email the builder right away!! Mr. Carr does not seem to think there is a problem If he gets people saying they may walk away Mattamy may start helping people because the list may grow of buyers walking away