Quote:
Originally Posted by Red
But you just did 
If there is that much money here, why have houses been falling in Cgy and Edm? What's the reason? And that's during the absolute lowest mortgage rates. |
I'm willing to bet that despite the fundamentals being hypothetically within reach of the hypothetical average family. There's probably still a hangover effect from the boom where there's legions of people underwater with no options to move without cutting a large cheque, much like another thread posted today. It's going to get worse when OSFI will change the rules and forbid mortgage renewals at a principal price above market value by the end of the year. This will force people underwater to fish or cut bait.