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Old 01-09-2019, 06:10 PM   #3289
OMG!WTF!
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A condo I owned in 2007 is back on the market for 100k less then what I sold it for. So I was interested because I liked it and it must be a good deal. But this MacLean's article is pretty scary...


https://www.macleans.ca/economy/real...ection-begins/


Quote:
Canadians took their cue and gorged on debt. We now owe $2.16 trillion in mortgage, credit card and other consumer debt—an 80 per cent jump from 2008, and an amount that now exceeds the value of the entire Canadian economy. Even Americans didn’t go that overboard during their housing bubble.

The BOC didn't raise rates today which is scary if you're dollar heavy. But I'm not sure how long they can put off rate hikes this year. Just seems like a perfect storm. So another year or two on the sidelines for me.
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