Real Estate

Not the best time to buy a house in Toronto?

  • Last Updated:
  • Mar 31st, 2017 7:35 pm
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Deal Guru
May 1, 2012
10538 posts
11427 upvotes
Toronto
This thread from 2011 eerily looks like a thread that can start today.

This teaches others here on the forum not to listen to a bunch of clowns who think they know the future.

Protip: These clowns don't know the future.
Deal Guru
User avatar
Apr 9, 2006
10595 posts
15784 upvotes
GT-EH
Wholly smokes ... 6 year old question being answered today! :lol:

The correct answer WAS: YES, it was a good time to buy (6 years ago)!
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Deal Addict
Aug 12, 2004
4511 posts
2168 upvotes
Calgary
crystallight wrote: Now I need to know...did OP buy?!?!?!?!?!
No he was told there was going to be a 10-20% correction and interest rates would rise :).
Deal Guru
May 1, 2012
10538 posts
11427 upvotes
Toronto
Firebot wrote: No he was told there was going to be a 10-20% correction and interest rates would rise :).
Not just rise 1-2%, it would rise 8-10%. Also it was advised that the buyer should only buy a place for 3x gross and a max amortization of 10-15 years.

Again, this was 2011. Laptop did a bang-on job pulling this out from the dusters. Who knew a bunch of armchair warriors on a coupon clipping website, do not know anything about real life.
Deal Addict
Jan 26, 2016
2240 posts
2272 upvotes
Toronto, ON
Anikiri wrote: Not just rise 1-2%, it would rise 8-10%. Also it was advised that the buyer should only buy a place for 3x gross and a max amortization of 10-15 years.

Again, this was 2011. Laptop did a bang-on job pulling this out from the dusters. Who knew a bunch of armchair warriors on a coupon clipping website, do not know anything about real life.
To be fair, they were given some sort of legitimacy by the loud mouth self-rightous G.T.
Deal Expert
User avatar
Oct 26, 2003
39339 posts
6342 upvotes
Winnipeg
crystallight wrote: Now I need to know...did OP buy?!?!?!?!?!
op couldn't afford 800k home back then, how is he supposed to afford double now hahahahahaha
Deal Addict
Sep 13, 2016
3606 posts
2409 upvotes
Mississauga
I am literally laughing my a*** off.. Guess someone will dig out a similar thread from 2016/17 in 2022.. :P
Deal Addict
Aug 19, 2011
4226 posts
3152 upvotes
Markham
divx wrote: op couldn't afford 800k home back then, how is he supposed to afford double now hahahahahaha
800k 'mini luxury' home lol
Member
Sep 23, 2016
284 posts
143 upvotes
lol i would kill for a 800k home now... oh well, see you guys in 2023!

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