Quote:
Originally Posted by 4444
when his 5 year mortgage goes up for renewal at higher rates, will he complain to the Vancouver Sun? What about if he tries to sell and has a huge fee to break his mortgage - does he understand that? will he complain to the Sun (which would appear to be anti-renting, or is it anti-landlords?)
this article really rubbed me the wrong way... not so much about rent vs. buy, but more about this whiny bitch who is clearly a bit of an idiot (or at least comes off that way).
NEVER SIGN ANYTHING YOU CAN'T EXPLAIN IN DETAIL TO SOMEONE ELSE
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I guess this story feeds into your overall perspective on Vancouver and the people here (after all, that's why you left), but what makes you think that this guy will be in a world of pain when his first mortgage comes up for renewal? Even if interest rates rise 2% in 5 years time, how much will that raise his payment? We're not talking about a million dollar home here.
Like I said before, what if the assumptions about fundamentals, and affordability are now wrong?