Quote:
Originally Posted by GilmoreStation
Definitely mortgage to take advantage of the power of leveraging. I have 15% down for $625K at the moment in liquid assets. By buying presale, i can save money during the 5-year construction timeframe.
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"The power of leveraging" is a kind way of saying being indebted as hell.
You are aware that if the condo prices slide back down to 2014 levels you'll be way underwater thanks to the "power of leveraging". If they normalise to historical average levels, you'll probably need to come up with another down payment just to keep your mortgage.
You may as well be planning to buy Bre-X shares on your visa card.