REVscene Automotive Forum - View Single Post

pastarocket · 06-14-2022, 01:31 PM

Guys, what is your take on this argument from a friend in terms of the Vancouver housing market?

Long story short, this friend is renting a two bedroom condo in the downtown west end for two grand per month. He is married and has two toddlers.

He figures that IF the Bank of Canada keeps raising the key interest rate this year in order to curb inflation, many homeowners with variable rate mortgages would face foreclosure. Some new homeowners are going to have to sell their houses.

-best chance for him to buy a house? He has a big income as an entrepreneur in his event marketing and film post production business. -would be able to save up for a big down payment even though he is paying rent now to a condo owner.

06-14-2022, 01:31 PM	#22604
pastarocket Willing to sell body for a few minutes on RS Join Date: Feb 2010 Location: Vancouver Posts: 10,686 Thanked 4,484 Times in 2,232 Posts Failed 699 Times in 223 Posts Member's Picture Albums	Guys, what is your take on this argument from a friend in terms of the Vancouver housing market? Long story short, this friend is renting a two bedroom condo in the downtown west end for two grand per month. He is married and has two toddlers. He figures that IF the Bank of Canada keeps raising the key interest rate this year in order to curb inflation, many homeowners with variable rate mortgages would face foreclosure. Some new homeowners are going to have to sell their houses. -best chance for him to buy a house? He has a big income as an entrepreneur in his event marketing and film post production business. -would be able to save up for a big down payment even though he is paying rent now to a condo owner. __________________ Go Canucks go!