Borrower's payoff will trigger tax bite - 2004-02-08
Question: We carried back first and second mortgages on an income property we liquidated. In December 2003, the borrower decided to pay down both mortgages. We received $261,484. What is our tax situation?

Answer: If you reported this as an installment sale, when your buyer unexpectedly paid off both your first and second mortgages, that means the balance of your deferred capital gain becomes taxable. For full details, please consult your tax advisor.
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Be wary of new property bubble, academics warn - 2004-02-08
Academics say the recent quick ascent in home prices has raised the risk of a bubble developing in the market.

He said the low interest rates - mortgage repayments are running at 25 per cent of average rents - were also encouraging home buyers to take out mortgages.

Market watchers estimate about 290 residential properties were sold over the weekend, compared with around 360 units a week earlier.
Read the full story at The Standard