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yeah buying pre sales right now would be a gamble for sure. Like others said you don't know where the mortgage rates will be in the future but as my realtor friends say the government puts rules in place so that the 2008 disaster wouldn't happen again. I mean say for instance you have all these condos/townhomes being built and all of a sudden government said they will increase mortgage rates to 10% obviously hypothetically speaking. With prices of housing people cant even get a place with rates right now imagine interest rates at 10%. Sellers/developers would have to drop their prices on their places just to try and get rid of them. So as for the market crashing I couldn't see if happening. I could just see the rates go up abit more to try and correct the housing prices to a certain extent.
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