The Definitive GTA Price Crash/Buyer Walk-away Examples List
The market has completely crashed 20% in prices since the peak in April, and another 20% drop is expected once the stress test for non-insured mortgages is implemented (source: http://www.whichmortgage.ca/article/sho ... 28537.aspx). This would be devastating to all the speculators and pumpers who've concentrated all their investment into a single asset because "it always goes up duh!".
Even with the stats all pointing to such an extreme drop, pumpers are still in denial, blaming sales mix and pointing at useless lagging stats like condo price appreciation.
This thread is to list all the examples of house price drops and people walking away from their deals since the peak!
Even with the stats all pointing to such an extreme drop, pumpers are still in denial, blaming sales mix and pointing at useless lagging stats like condo price appreciation.
This thread is to list all the examples of house price drops and people walking away from their deals since the peak!
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