DARRYL DYCK/The Globe and Mail
“People are stretching it way too thin on multiple offer properties. And I think it’s foolish. There’s good debt and bad debt, and all it takes is a few points in interest rates and suddenly people will be having a rough day.” The stories are all too common. His friend bought a house in Surrey for $110,000 over asking. A two-bedroom Langley rancher made headlines last week because it sold for $500,000 over the asking price. It had 110 showings over five days and received 20 offers.
“Their earnings after inflation have gone down by comparison to decades ago, while we have tolerated an economy that’s lost complete control over home prices.
Folks all over this country, but esp in hot places like Vancouver, Toronto etc: You are being invaded/infested by foreign blood money from all over the world. Your govt wants them to come and 'invest' no matter the damage they do to you as ppl of this once good 4 U cntry. Rise up
Are we meant to feel sorry for someone who was so ready and eager to cash in on foreclosures and other people’s hardship? Thank goodness that didn’t happen. People can continue to rent. It’s perfectly feasible. Or move away from the big city.