Quote:
Originally Posted by MarkyMark
Starter homes haven't come down yet, who knows if they will or will not in the future. Condos in Vancouver might not come down but it could have a bigger impact in the burbs. Plus, if this stress test affects that many first time buyers, couldn't that alone force starter home prices to drop?
People can't pay what they aren't approved for.
|
could just drive people further east
Developers are insanely quick to pull the trigger on raising prices, but almost never accept a decrease as far as i've seen, even with sagging inventory or low interest