Quote:
Originally Posted by Tapioca
Since everyone who doesn't own that coveted detached house is hoping for a crash, let's think of "what if".
Let's say the prices of detached houses in East Vancouver/Burnaby fell to 3 times the median family income. This would mean the average home should sell for 400-500K.
Who here has 100-150k sitting in the bank? Who's actually ready to put down that 20% and can service the payments?
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Yup... and the dividend from what I didn't use for a downpayment can probably pay for the mortgage payments too. Or at least a large portion of it.
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"Damn fine car Dodge... Ran over me wife with a Dodge!", Zeke
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