Author Topic: Addressing climate change  (Read 8225 times)

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Offline MH

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Re: Addressing climate change
« Reply #180 on: August 28, 2019, 05:44:05 am »
Rent is literally throwing your money away.

Even if there's a market correction in Toronto, it's the safest housing market in the country and a future-proof investment.  Something like 70% of immigrants go to Toronto, so demand will always be there for many decades to come & they'll never be able to build houses fast enough to keep up (condos, well who knows, still doubtful).

Well... maybe.  But rents are taking a historically massive chunk of income and you have to have a household income of 4X the average to buy a small house.  It doesn't seem sustainable.

A small tick, like a government drastically reducing immigration or airbNb regulations coming in or Chinese govt changing policy on foreign investment...

Now - given that I have shown myself to have zero vision in these things anyway - why do you think it's safe beyond the immigration thing ?

Worst case is a correction, your house goes down in value, maybe you could renegotiate your mortgage for less, then value goes back up eventually.  Market has cooled a bit so I think you're fine, and no correction is worth throwing away 36k a year on rent.

Well at $36k per year you are right....