Quote:
Originally Posted by blankall
Encouraging people to put less down, during a housing crunch with uncertain interest rates and a potential crash in the future is not a good idea. Buying a home shouldn't be as big of a risk as it is.
Yes. Attached properties, generally, don't appreciate in value at the same rate as detaches ones. Making the jump from crappy house to nicer house is much easier than from attached unit to detached unit. Many Canadian cities lack adequate supply of liveable townhouses, aka the "Missing Middle".
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I'm not encouraging. If owning is that important to people it's an option. And interest rates are always uncertain. You can lock in under 5% right now. Certainly better than my first mortgage rate. People have been totally spoiled with unrealistic expectations of free money (2% mortgages).
Potential crash? Could happen. For sure prices will go up and they'll go down. Risk is part of life and really shouldn't factor into buying a home to live in long term. If you go in thinking like that it's not a risk.