Rent
Can The Bank Take Your House Even If You Pay Your Mortgage?
- Let’s Go Exploring: Cusco and the Lost City of Macchu Picchu - May 29, 2023
- Reader Case: Can I Move to Spain? - May 15, 2023
- Big Tech Is Laying Off Workers: Is Your Job Next? - May 1, 2023
It’s every home-owner’s worst nightmare. Already drowning in debt, and with a rampaging cost of living crisis causing many families to barely be able to make ends meet, they get a notice from their mortgage company that says something to the effect of: You have 30 days to pay back your entire mortgage balance in full, or we’re taking your house. Have a great day! Sound like a bad dream? Like something that would never happen here in Canada? Well, I got bad news for you: There are early signs of rough times ahead in the GTA real estate market, […]
Is it Canada’s Turn for a 2008-Style Housing Crash?
- Let’s Go Exploring: Cusco and the Lost City of Macchu Picchu - May 29, 2023
- Reader Case: Can I Move to Spain? - May 15, 2023
- Big Tech Is Laying Off Workers: Is Your Job Next? - May 1, 2023
I received a message from a reader recently telling me “Check this out! The housing crash has officially started!” They linked me to a news article about the plight of condo investors in Toronto. I know, I know, cry me a river, right? Well, take a read… Ujjwal Jain never thought when he bought his pre-construction condo in April 2020 that it would cost him his life savings. As the date for him to take possession of the condo nears, the bank appraisal, which is done to ensure the current market value of a property is in line with the […]
How Much Will House Prices Fall?
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Lately, my google newsfeed has been filled with scary headlines like Nearly 1 in 4 homeowners say they’d have to sell home if interest rates rise more, according to survey Canadian Real Estate Prices Expected To Drop 24%, Can Crash 40%: Oxford Economics B.C. home sales drop 35% as rising mortgage rates bite: ‘The housing correction has started But on the flip side, there are also articles saying the exact opposite, like: Home prices could rise 15% in 2022 despite efforts to cool market: Royal LePage Some experts say prices could fall as much as 40%, while others think it’s […]
Can Canada Escape a US-Style Housing Crash?
- Let’s Go Exploring: Cusco and the Lost City of Macchu Picchu - May 29, 2023
- Reader Case: Can I Move to Spain? - May 15, 2023
- Big Tech Is Laying Off Workers: Is Your Job Next? - May 1, 2023
Canada: The land of hockey, socialized health care, and maple syrup. That’s the stereotype, anyways. But people who actually live in this country know that this gross over-simplification of our culture misses a very important piece: Complaining about real estate prices. Seriously. Canadians love complaining about real estate prices. It’s our national past-time. We’re somehow simultaneously obsessed with owning houses, while complaining bitterly about how much they cost. In fact, in the last federal election, the number one issue that mattered the most to Canadian voters was reining in housing prices. Not dealing with the pandemic that was still going, […]
The Return of Underwater Mortgages
- Let’s Go Exploring: Cusco and the Lost City of Macchu Picchu - May 29, 2023
- Reader Case: Can I Move to Spain? - May 15, 2023
- Big Tech Is Laying Off Workers: Is Your Job Next? - May 1, 2023
In a previous life, my mom used to be a real estate agent, and she often shakes her head at the crazy behaviour of “kids these days” buying houses over Zoom, getting into massive bidding wars, and the signing condition free offers. Back in HER day, people would make their offers conditional on financing, or selling their existing home. They would insist on home inspections! And they definitely would want to see the damned thing in person before plunking down their entire life savings! However, there is something from “back in the day” that might be making an unwelcome return: […]
