Quote (Secksii @ Apr 17 2021 03:11pm)
ya we are just gonna be patient, or wait til 2026. Just save $$ in the meantime to add more into the down payment so we don't have to mortgage as much later on.
I get the feeling a lot of people that bought this year with low % mort. rates are gonna be shocked when the rates are back to normal or even higher, and suddenly they can't afford it once their 5 yr is up. They'll panic and become buyers market
a lot of my coworkers think that but i think it might be better to step into something so if things continue to go up at least your property value will rise up with it, then you can sell it or rent it out to move into a bigger place
my dad's place in north delta jumped up roughly 40-50% this year, there's no way anyone can save up a down payment at these rate of increases
also i think there's so many people that have all their eggs in the real estate basket that if rates go back up and people get fucked, the government will most likely have to step in and bail people out for votes (because foreigners pay cash, they dont have mortgages lol)