Quote:
Originally Posted by Yoho
I don’t know if investors are making “big profits” with these interest rates and cost of housing.
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I know multiple investors who paid cash for houses in the past year. They won't make money this year, but they will in the next ten. Housing prices were depressed in Vancouver for the last year, particularly in the range above $2.5 million.
If I had an extra $3 million lying around, I'm fairly confident I could make myself richer.
Meanwhile, anyone trying to enter the market with a mortgage just saw their affordability dwindle.... It is the way. The Canadian economy truly is between a rock and a hard place.