Quote:
Originally Posted by Ulic Qel-Droma
a recession.
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Recession would help lower RE slightly, not as much as you would see in Asia / US market.
People who bought over-million house were paid in cash where banks were NOT involved in this situation.
However, for investors & users with mortgages, RE collapse would definitely have a huge impact in the economy.
I would like to see the release data among all home owners, how many of them were paid in cash vs having mortgage. These numbers are much more convincing than the "data" from CMHC.