Quote:
Originally Posted by DoubleF
Huh? If anything, Calgary has an oversupply of condos right now with more towers expecting completion soon. Old condos get screwed by new condos because new and lower condo fees.
Some people hurting in the range of 15-30% on condos and townhouses isn't uncommon. I wonder if they 10% down and paid minimum, but I know some people who can't pay off their mortgage and realtor if they sold their condo now. So they just keep it as a rental and hope to break even on a mortgage payout in a few years. I'm going to be really happy if I can keep my losses less than 10% this summer.
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Sorry if that was unclear. I meant there is not enough detached housing right now, but that could catch up once construction catches up.