A Toronto realtor, spooked by prices gone bat poop crazy, yesterday dared to articulate the question haunting Canadian real estate and the households, lenders, services, economy and tax revenues now precariously exposed to the unsustainable. See: Why am I not celebrating?
“what is going to happen to this market because surely it cannot continue like this….tell me what happens when all these expensive homes have mortgage renewals in a few years and the interest rates are higher, can they afford the payments? While the values have decreased and now the homes aren’t worth what they have invested in them?”
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