[VR6GTI]

Originally Posted by Tapioca

If housing in this market crashes, say to the tune of 50%, the people who borrowed against their homes would still be okay because their homes were likely paid off long ago. They would still be able to service the interest payments on their home equity loans from CPP, OAS, and any pensions they have (the baby boomer generation has benefited from pensions that were much more common). They can defer payment on property taxes indefinitely and even if they find themselves in a position where they have to sell, they will likely be okay as the sale, even in a fire sale environment, will cover any loans remaining on the property. Or they will die knowing that the estate sale will take care of any loans on their property.

Here's hoping this happens and soon