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Old 2015-06-16, 08:36 PM
WellThatsLovely WellThatsLovely is offline
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Join Date: Jan 2014
Location: Oakville
Posts: 770

Originally Posted by gerapau View Post
I guess this could, in theory, go both ways. If prices rise you will profit from both your current home (if you have one) as well as your new home. But if we were to ever have a crash you could in fact be contracted to buy a home which may now be worth substantially less than you have to pay and your current home, if you have one, would be worth less too. This could mean you no longer qualify for financing for the home you are contracted to buy. This could in theory happen even with closer build dates though.
Technically true... but for now the government has a plan lol... Canadians and their incomes have been exhausted but they're now allowing in extra foreigners with lots of liquid cash to fill the gaps and keep real estate flowing. After that we'll have some dead baby-boomers in Toronto which will free up some inheritance money... but after that, we're all screwed lol
Hopefully our new foreign investor friends will be settled in enough to not want to go home and take all their money with them
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