RE:CanadaYikes.... seriously guys do you believe all this doomsday on BNN?
RECORD DEBT LEVELS..... yes because we are at a low interest rate and house value is proportionate to the interest rate.
Also, if you look at debt to service ratio we are NOT bad... and only slightly worse than the hyper inflation in the 90's.
100k house at 14% interest..... 400k house at 2.5%. Which monthly payment is higher?
Toronto and Vancouver are WORLD CLASS CITIES..... and are only overpriced right now because of the avg income of people living in those city's compared to the prices.
When have you ever seen avg wages go up BEFORE cost of living? Wages and prices will balance out in time. They are not overpriced when compared to other city's in the same bracket.
These markets are hot and will probably cool but to call it a bubble like the subprime crash in the USA is just wrong
I bought at 9, 7 and 6.... I am liquidating other investments to double down tomorrow.