Quote:
Originally Posted by OldDutch
I read in the article a household income of $100K can qualify for $700K mortgage. Wow.
Is a family completely house poor at that point? How do they afford cars, kids, utilities, repairs, vacations, etc.
Pretty obvious debt is the solution. I can start to see how this is getting dangerous here in Canada. People at that income should not be spending that on a mortgage period. Just a totally dangerous situation.
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I would like to know what insane bank is approving that. I couldn't get anywhere close to that with RBC, which is perfectly reasonable.