Quote:
Originally Posted by Hockey Fan #751
I feel like it just isn't a good idea to purchase the most expensive house you can afford as it doesn't leave a lot of room in your budget for other things and puts you in peril if interest rates increase and squeeze you out so in that sense, the stress test is a good thing.
As a home owner, I'm not a fan of the fact that my house has dropped a fair bit in value since I bought it just last year (it's probably dropped about $30,000 based on the sale price of similar homes around me). It sucks because I have a job opportunity in another city but it's impossible to sell given the equity I have in the home at the moment.
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Couldn't you rent out your current place and move for the new job and rent there?