Quote:
Originally Posted by The Yen Man
I guess I disagree. I'd rather put 10% down and carry a mortgage over renting. Currently in Calgary, to rent even a basement suite you're looking at $1,000+ per month. Why would you pay money to help someone else mortgage their property when you can have it go towards your own?
Some people keep harping (and some I swear cheering for) a housing crash in Calgary. Yes, house prices will go down if that happens. But that's not going to be good for anyone, because that would probably mean Calgary's economy is tanking.
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I am not saying it's good or bad. I am just saying that people would be wise to take that in to consideration. People that max out on cheap mortgage not only hurt themselves long term, but also hurt others by inflating prices.