Quote:
Originally Posted by _Q_
You may be able to handle a rate increase to 6% or higher, but do you think most canadian households are in the same boat? And when that shoe drops, will you be ok with your property value dropping along with it?
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Personally, I would love it. I have very little sympathy for somebody who overbought without factoring in the near-certainty of eventual interest rate hikes.
I would also like property values to come down. Once you're in the market with no plans of exiting, what do you care if the prices comes down (other than those guys who would be underwater, but still, that's just on paper if you're going to be in the market for the long term)? My kids are in their teens now. I'm more focused on wanting a downward price correction so they and all the other young people shut out of the market will have an opportunity at home ownership.