Quote:
Originally Posted by afc wimbledon
We continue to suffer the effects of foolishly low interest rates, wouldn't need any of this if interest rates were 5%
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Although if interest rates were 5% or higher, there would still be a real lull in the housing market. Probably even more so.
As an aside, how do people in Toronto and Vancouver even afford their homes? I make nearly six figures and under the current rules, the most expensive house I can afford is $450,000.
So in a city like Vancouver where there are virtually no homes under $1 million, what do you do?