Thread: Housing market
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Old Posted Sep 23, 2008, 11:19 PM
adam adam is offline
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Join Date: Jun 2008
Location: Downtown Hamilton
Posts: 1,231
A lot of young couples are buying houses in new subdivisions for over $600k in the GTA. They'll be in up over their heads soon enough. When the housing market crashes (it hasn't yet!) their value will plummet but they'll still have a $600k mortgage. This scenario will play out on a grand scale. There will be too many houses and not enough buyers.. prices will come down but interest rates will go up.
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