Quote:
Originally Posted by Fuzz
That's the point, they should be. And my property value has gone up and down over the years, I don't care. Lower value would help people get into homes. Baffling that you think low interest rates are a given, and it's some no-go zone to raise them to a more typical range.
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I think there's a misunderstanding.
I agree that there isn't a no-go interest rate zone. Understand rates will go as high as they need to and us home owners need to be comfortable with higher mortgage payments and lower equity.
The over leveraged households that bought $1.3 million homes in Toronto on a $150k salary using their parents money for down-payment won't be so lucky.