The Goderich Signal-Star, 1980-03-20, Page 17dav e
Sykes
Inside this section:
Help!
I am being held captive by 1249
peewee hockey playersat theGoderich
Community Centre and to date the
rublisher has refused to pay the ran-
som for my release.
But I would suspect he is still
negotiating a loan for the $1.39 demand
on my life.
This week, .fair folks, is Young
Canada Week in Goderich. A 31 -year
old Celebration of miniature Guy
Lafleurs and Mike Palmateers, hot
dogs, chicken, tired legs and scram-
bled brains.
The corresepondents of the pulsating
newsroom try to avoid the tourney
whenever possible. In the newsroom it
gets as much respect as a social
disease.
And despite empassioned pleas and
decent grovelling on m� part I are,
once again, camped at the arena,
idolizing peewee hociktey players in the
Young Canada Week Daily News. And,
School children head home for holidays Page 2
Mrs. Elna McLean billets YCW boys ' Page 3
New tour opportunities at the jail Page 4
Book Club views library exhibit Page 6
Throne' speech reviewed by MPP Page 7
Enjoy a farm vacation Page 10
Waterfront committee would make changes Page 11
Minor hockey becomes'Ontario priority' Page 14
as evidenced by this paltry piece, my
thinking apparatus is in park.
Covering hockey games through the
compact view of a 135 mm lens can be
, enjoyable but it tends to wreak havoc
with my shutter release finger over the
gruelling eight day -16 hour a day
schedule.
I am developing a nervous tick in my
photography eye and I fear, by the end
of the week, that cohorts will require a
crowbar to pry the Pentax from my
face.
Peewee hockey players are at a
difficult age. This week they comb the
arena and environs in droves and if
they catch a slight glimpse of the
camera dangling from my neck, it
means trouble.
"Hey, take my picture I'm Fonzie. I
scored three goals are you gonna take
my picture?"
That it itself isn't disturbing. But
generally these pocket size pTTayers
have an adulatory bevy of young ladies
.0,,,ving after them seeking
autographs, hats', pins, pieces of
clothing and other bits of memoribijia.
These kids are 12 yearsold and already
their presence commands a deluge of
dollies, That's disturbing.
Perhaps their is a hint of jealousy
looming large. Journalsists don't
command such respect and attention
-and this diligent,columnist hasn't once
had his clothing ripped by an over
zealous young lady at the arena this
week. ARRGH!
I also tend to loose my my per-
spective and train of thought during
Young„ Canada Week. Taking
respectable pictures requires a small -
amount of patience and a good
measure of concentration.
But, peewee hockey is another story.
It doesn't matter at what end of the
rink I positionmyself, the action in-
variably is heated at the other end. So I
move.
•• Naturally, the team that couldn't get
out of its end for the last 20 minutes is
now in the offensive zone Pelting the
goaltenderwith quality shots. It's
frustrating to say the least.
And glancing through the viewfinder
for minutes on end to snap that key
action picture at the right moment is
tedious business. I have followed the
little suckers through the camera lens
for an eternity hoping for some sem-
blance of hockey action only to have
my patience wear thin. But, as soon as
I lift the camera from my face, one of
the little jerks scores the most
memorable goal of the tournament.
Is there any justice?
If this trend continues, your dutifull
scribe may be overwhelmed by an urge
to hurl himself from the balcony of the'
arena onto a pack of peewee players.
As readers may judge from the tone
of this offering, I seek sympathy for nay
week-long labours at the arena.
_ ..Or ai-t'e'a`st-strip-by'the-a-re'ria-and-___.
at my clothing.
It will make me feel better.
t0eUeriCh
SIGNALSTAR
132 YEAR -12
Goderich plays mortga
BY CATH WOODEN
Everyday, new
predictions and policies
are announced by the
nation's economic ex-
perts as interest rates
soar past ` 15 per. cent.
Goderich may seem far
removed from Ottawa,
but its citizens that must
deal daily with the
mortgage crunch are not
without opinions and
predictions of their own.
"These are pretty
tough times, there's no
rims out
Holmes, manager. of
Victoria and Grey Trust
in Goderich. "I think that
the basic way we look at
_ things is going to have to.
change dramatically."
Holmes says there are
very -few people obtaining
mortgages -at V.&G. for
house. purchases these
days. What is on the in-
crease, though, is the
power of sale. When a
homeowner • continually
misses his mortgage
payment, he is given 35
days to pay or the mor-
tgage -holder can sell the
property.
CRUNCH STILL
TO COME
'Even though the'
number of power of sale
actions has risen sub-
stantially, Holmes feels
"the crunch hasn't come
yet. People are still living
=with 10 and 11 per cent
mortgages." It is when
these mortgages are up
for renewal that
homeowners discover
themselves in a bind,
it," says Jim At . the Toronto
Dominion Ban ci+— in
Goderich, manager Bob'
Stubbings says he has not
yet hadto deal with
renewals, sincce his
branch has been open for
barely five years, '
However, I feels that
the five-year .mortgage is
becoming less and less
common. If people are
buying at all, they are
taking out one-year
mortgages in hopes that
the interest rates will
drop during the next
twelve months.
Calculating }; monthly
mortgage costs
Here is a simple guide to help you calculate your
mortgage costs.
Assuming your mortgage is amortized over 25
years, your monthly payment will be:
+$11.74 for every $1,000 you borrow at 14 percent;
+$11.56 for every $1,000 you borrow at '13.75 per-
cent;
' +$11.39 for every11,000 you borrow at 13.5percent;
+$1,211, for every $1,000 you borrow at 13,25 per-
cent; 17
+$11.03 for every $1,000 you borrow at 13 percent;
+$10.85 for every $1,000 you borrow at 12.75 per-
-
2 75''per-
- 'cent; ��—
+$10.68 for every $1,000 you borrow at 12.5 percent.
If you need a $45,000 mortgage and will have to
pay an interest rate of 14 percent, you simply
multiply $11.74 (the figure opposite the 14 percent in
the above list) by 45 (then number of thousands
needed) to get your monthly payment. That works
out to $528.30.
Remember, these figures don't include property
tax. Don't forget to add that into your monthly
payment before deciding whether or not you can
afford the house.
Stubbings didn't want
to make a prediction
himself, but he said that
last December, the TD
head office forecasted
that interest rates would
be 11 per cent in June. "It
was a 'ballpark figure,"
said Stubbings.
He feels that the price
of a mortgage rises, for
the same reason as other
prices. "When prices go
up, people' stockpile,
which forces them to go
up more."
Stubbings would like to
see a program im-
plemented .by Cit'
government designed to
atd the house buyer. "The ,
government .l has helped
the farmer, and now
homeowners are in the
same boat. Only a few
can afford td buy a house,
and even . fewer can af-
ford a downpayment."
BROKERS OPTIMISTIC
Those ,involvedin the
real estate business are
considerably . less
pessimistic than the
bankers.
"Sure we're op-
timistic," says Paul
Zurbrigg, - •esident of the
Huron Real Estate
Board. "You have to be
optimistic in the real
estate business."
He says that the
situation in Goderich is
not desperate. "Real
estate has not dried up
and disappeared because
of interest ;rates.
Propertiesare still
selling and people are
still borrow-ing."
Farm sales have
THURSDAY, MARCH 20, 1980
SECOND SECTION
e waitin
slowed up, Zurbrigg says,
and prices are slipping
. off from last year, but
there are still property
purchases in Goderich.
.i�
The majority of buyers
are purchasing • existing
mortgages at 10 or 11 per
cent with a few years left
before renewal and are
bet,'t'$$ti
t s. b 4-4 *-9r +L t -t Al'
tmb•rtat.ar..s
arranging a second
mortgage. for the
downpayment.
Zurbrigg says that the
real estate situation in
Goderich is 'fairly stable
compared to. other
communities. He cited
Kincardine, 35 -miles' to
the north, as an example.
"In a subdivision there,
there ..is 35 units sitting
half -finished, another 100
units that are partially
empty, and one whole
subdivision that has
streets and lightings but
only three houses on it."
Zurbrigg attributes
Goderich's stability to the
fact that no builders are
erecting houses - on
speculation. There is only
.one new house for sale
here that was built
without a buyer.
Deb Shewfelt, manager
of W.J. Hughes Realty
World, is another real
estate man who displays
unflagging optimism.
"It's a tough market' for
salespeople." he admits.
"But you have to be
creative and promote
innovative financing.
Shewfelt says that
February is a
traditionally slow month,
but this year it was
unusually busy. "I think
buyers are . getting in
before rates skyrocket.
Optimistic young men ignore harsh realities
BY CATH WOODEN
There comes a time in
the lives of young, am-
bi tious people—when-they
feel compelled to ignore
depressing realities and
dive right into their
dreams.
Richard Ottewell and
Glen Karey are two such
young men who have
invested years and
.morley into educations.
They emerged, hoping to
capitalize on their
knowledge and found
themselves slapped in the
face by crippling interest
rates.
But the two have turned
the other , cheek ._ and are _
pressing on. On April 14,
Ottewell and Ka'rey will
be called to the bar. On
Apri-1 15, they hope to
open their own legal
office here in Goderich.
Ottewell's face shines
with optimism as he sits
in a pair of overalls in his
'office'. There is sawdust
and paint cans all over
the floor, and the sound of
a buzz saw nearly dr -owns
conversation out.
"'Oh, I suppose we
could have gotre to work
for-sumebody else,' he
says., "There's financial°
security in that, but we
want the satisfaction of
setting up our own
business."
He and Karey together.
have purchased a house
on North Street and are
converting the bottom
floor into offices. "I guess
we were, victims of cir-
cumstance as iar as
interest rates are .con-
cerned," "Ottewell says.
"We signed the offer to
purchase, last summer
when rates were 111/2 or
113/4 per cent.
"But when the deal
finally closed in January,
we ended• up getting the
mortgage for 143/ ,"
Hoping the rates will
drop, they took out a
mortgage for just one
year. "It looks like we
may have made a
mistake." he shrugs.
To absorb the higher
cost of mortgages, they
realize that they have to
cut back on other things.
"We've bought second
hand furniture from a
lawyer in London who
went out of business."
Not only have the
partners bought the of-
fice, but Ottewell has just
purchased a home and
Korey is looking.
Ottewell and his wife,
Barbara Ann who is a
teacher at G.D.C.I.,
recently acquired a house
on Sunset Drive. Like
many new homeowners
in Goderich, they
assumed the. previous
owner's recently -
renewed mortgage at a
lower rate.
"If we had had to
finance the whole thing,
there would have been no
way we could do it," .he
speculates:
But that's hard to
believe. 'No way' doesn't
seem to be in Richard
Ottewell's and Glen
Karey's vocabularies.
Rates haven't climbed
with inflation land we're
not going to see them
settle below 12 per cent.
LAWYERS FEELING
PINCH
Shewfelt wishes the
government had created
a mortgage interest
deduGtability program
which would give people
more disposable income
to meet higher home -
ow ni ng
omeowning costs.
Disposable income is
something one group in
-.pari i.culat _._i
_ since the number of
people buying property
has been decreasing.
"Real estate is •the
average lawyer's steady
income, our bread and
butter," says Tom
Troyan,one member of
Goderich's legal
'profession. He says that
under 'normal cir-
cumstances, 60 der. cent
of his business is • real
estate. Because of the
high cost of Mortgages
and the subsequent,
quieting of real estate,
that -facet of his work is
down by 20 per cent.
"It's demoralizing. It
creates a dangerous
balance system for .a
lawyer. He has to borrow
money himself and that
has repercussions on
employees.
The spring and sum-
mer months are usually
good ones for real estate
and Troyan wonders if
people will swallow the
pill or hold back.
"People in the business
can be either optimistic
or pessimistic, both with
justification. But right
now, all anybody can .do
is play a waiting game."
Tips for
home buyers
on page 3
r
L
Cath Wooden
Perhaps I should get married so that
I can get some presents.
That is probably as good a reason as
any and I really need some presents,
preferably in the form of household
effects.
My household isn't very effective
right now. •
Actually, I shouldn't complain too
much. I do have a few things. I have: a
toaster, a poster of Easy -"Rider, two
plants, (one is near death) and a
beautiful floor lamp whose shade is a
color not found in nature.
A toaster is a veritable
treasurehouse of usefulness. Not only
can it be used to toast toast, but one can
also fry bacon or baloney on top, (not
eggs- too messy) keep plates warm,
and also pizza. If necessary, one can
use a toaster as a mirror.
But even a toaster has its limits. I
haven't been able to train mine to iron
a blouse or vacuum the carpet, or boil
water. I'd really like a vacuum
cleaner. It is time consuming having to
crawl around the floor picking bits up
and it is dicsoncerting to have your
mother come over to let you use hers
while you happen to be. eating dinner
and (drinking wine with a friend of
another sex.
A vacuum cleaner would give me
peace of mind.
1 don't think I could survive without
an iron- but not necessarily to keep
clothes nice. It isn't difficult to im-
.piem ent "the crinckled look" into one's
style of dressing. This is even easier for
me as I have no taste or concept of
fashion whatsoever. The reason I need
an iron is because I like to iron. Ever
since I read a Margaret Atwood novel
in which there was a character who
was a compulsive ironer, ironing has
become a form of therapy for tine.
It soothes my frazzled nerves and has
a hypnotizing effect on me, I could iron
for days- and if I ran o'ut of things to
iron, I would phone friends and invite
them to bring their ironing over.
An iron would give me peace of mind.
An ironing hoard would put me in
heaven.
I have discovered that toasters do not
generate enough heat to boil water.
There- is also the problem of where to
put the water in the first place. As a
result, I must resort to the mundane
method of boiling water in. a pot on the
stove.
This is hazardous. Whereas it takes a
kettle quite a long while to boil dry, a
pot of water disappears before you
have time to rinse out your dirty sweat
socks (not in the water concerned, but
in the sink. The water concerned is for
tea).
When an empty saucepan is left over
high heat andl forgotten for half an
hour, ugly things happen to it. I have,
ruined two saucepans so far.
I must confess that I fibbed a bit back
at the beginning of this column. My list
of belongings extends a little further
than what I mentioned. I do have a
bookcase, which is a fluorescent green.
It matches well with my orange and
red carpet and lamp shade.
I also own an easy chair. It can be a
very nice chair at times. When it is
feeling grouchy, however, it pulls the
old 'spring sting', an ancient torture.
The guts also seem to be falling out of
it, something I have remedied by
placing several old phone books at
strategic points.
So...I guess I'm not so bad off after
all. But if atiyone cares to get married
to me for a while, I Will let him have"
any presents that are toasters and I
will take home the rest.
+++
Thanks loads to Mr. and .Mra.
Murray Hunter, who got me some dice
at a sale they went to. They are red and
fuzzy (the dice, not Mr, and Mrs. H.)
J