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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Haha everyone jumping at 400-500k. GOOD LUCK!
I and many others will outbid you pretty damn quick
Edit: forgot to mention but you better pray the foreign buyer tax is at 200%