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c16 tribune june 15 1988 time to halt spiralling real estate market in what has to be the closest thing yet to a legalized pyramid scheme the phenomena of escalating real estate prices has become a classic case of the rich getting richer while the propertypoor among us sink ever deeper into the abyss those fortunate enough to have entered the real estate ownership game back when a modest down payment would get you started are now riding the wave of a runaway equity explosion many have seen an initial investment of a few thousand bucks in the 1960s from where live bruce staplcy and 70s transformed into a few hundred thousand kind of makes the purchase of lotterv tickets redundant doesnt it while there are those who simply scoff and say its only paper money those dollars you hold in your hand when you sell out are very real they have to come from someones pocket and just try to suggest that some sort of blanket tax should be applied to this sort of windfall in an effort to curb the excess and pay off some government bills and watch the razzing youll receive no its canadian societys ver sion of darwins survival of the fittest theory to the haves go the spoils to the have nots tough luck all you had to do to get on board the gravy train was to claim your stake way back when the getting was good for the official opening 8 m those who were born too late thems the breaks and just like the lotteries there would appear to be a danger that the fast buck real estate game could lead to a very real disincen tive to make money the old way through hard work and in genious business tactics why slug when you can make money the easy way by snapping up every real estate deed you can get a high ratio mortgage for no skills involved you simply must make your monthly mor tgage payments on time and youre best not to even consider renovations beyond the simple application of paint and wallpaper for that would involve the ex penditure of your weekly income dollars since youll make a for tune anyway you may as well use the expendable portion of your income on frills while the excesses of the situa tion have become blatant enough when seen from the standpoint of individual families with one home they become absolutely ludicrous when one considers there are people virtually hoar ding real estate in urban areas opportunistic predators bent upon making their fortunes off the sweat of others and foreign interests are literally buying up city blocks killing any chances a young couple starting out may have of becoming property owners and what controls are there to regulate this blatant greed none no wonder the communist countries shake their heads when they ponder the excesses of the capitalist system where one mans fortune comes at the ex pense of so many others who must resign themselves to deprivation i would almost welcome a return to 20 per cent mortgage rates if only to shake the whole selfindulgent structure back down to the ground sure a lot of hard working homeowners would suffer but the others those who have spread themselves around like so much peanut butter on toast would be forced to experience the other side of the coin that of financial fear and loss and we would all come to realize once again that big mor tgages are a financial tight rope with no net underneath if you should fall if you are comfortably perched in your 275000 home that cost you 100000 five years ago with only 45000 still to pay off on the mortgage think just for a second about the plight of the young cou ple who may never own a home without moving to tuktoyaktuk where i hear job prospects are pretty slim but if you are just starting out and your dream of eventual home ownership is quickly evaporating then make some noise verbalize your lament for sooner or later the czars will have to start listening and there will inevitably be some con trols to regulate the pyramid scheme that is providing home owners with overnight riches saturday june 25 1988 at 7600 kennedy rd 10 am to 4 pm free admission opening ceremonies 1200 noon for more information call 4771542 in cooperation with milliken mills summerfest fun for the whole family christina cece 16 was chosen miss sesquicentennial for claremonts 150th birthday she rode in the parade held saturday pumojimomaj stouffville boy earns award by bruce stapley st johns school for boys in claremont closed out their school year saturday with an open house the event featured an awards presentation a dramatic presen tation by the grade 7 and 8 students a debate on the pros and cons of rouge river develop- ment and a graduation ceremony for the departing grade 10 boys stouffvilles shane stapley a grade 8 student at the private school received the junior n0w0pen catejingl european style cutting spemade sausage homemade salads gourmet foods 1 personal service academic award and par ticipated in the outdoor stage pro duction sampson the school is attended by 55 boys from as far away as detroit michigan and calgary alberta shane is the only stouffvillearea boy enrolled in his head masters address principal mike maunder com mended the 10 graduating students we dont need to pretend to produce the highest academic achievers or the best athletes at st johns he claimed but we do put out into the world a group of good young men with solid values- pointing to the cross in the cen tre of the ring the boys were presented with maunder said while he never expected perfec tion from the boys there was a man who lived on earth 2000 years ago whose own sacrifice paid for the mistakes of these boys and people everywhere the school is run by members of the lay anglican order of the cross gordon black a member of the schools administrative staff presented the annual mark den ny award to benji booker of ajax the award goes to the stu dent displaying the most character it is dedicated to the memory of mark denny a staff member who was killed in the canoeing disaster that took the lives of 13 st johns staff and students at lake temiskaming in 1978 blacks son was one of the victims opening mjune gillinghams fine dining 4712244 6061 hwy 7 east markham 4712422 hours closed hondays tocsrthurs 9rii6 rxrm ryidun7pm f sat 0 arh5 m- sun loanvjpm hwy 7 the best place to be is a standard trust bb standar1 trust menta canh deposit foswarw capon 39 main street n markhom 2946865