[Flamenspiel]

Personally, based on history I agree it’s a (condo bubble) in Toronto, and probably Vancouver as well. To be clear if you buy now it does not mean you will lose money, but it may take 10 years to make your money back. Land is scarce, sky and air is not. There is a high rise project in Kelowna, that is the kind of thing that scares me. It sold out pretty quickly, that’s bubble type thinking.

I remember the 80s condo bubble in Toronto, I believe it was high interest rates that triggered the decline. I had two friends who bought at that time in the same pre build. One walked away and sacrificed his 10k deposit. The other held on and sold at profit after about 15 years. Perhaps profited even when you added all the interest payments and rentals that were not enough to cover.

There will also be political support for high interest rates because all the boomers, Xers, and older millenials will want the low risk interest income from higher rates. Of course I could be completely wrong, and there is that...