Quote:
Originally Posted by flamesfever
Not to my knowledge. After the NEP in the early 80s in Calgary, many people saw the PV of their home drop below the equity value, and ended up selling their home for a dollar to get out of their mortgage.
I recently met a person, who was working for RBC at the time, who said the number of foreclosures he was working on went from one to twenty.
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Yeah, but let’s be clear; houses weren’t being sold for a dollar. Mortgages were being assumed for a dollar. It’s just a pet peeve of mine. It’s not like you could literally own 100 houses for a $100 bill.