this post was submitted on 11 Apr 2024
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I'd love a housing crash. I get thats unpopular to owners, landlords and those that just but, but I'd like one.
Honestly, as someone looking to buy a house right now, I'd be fine with the market crashing afterward.
Of course, there would be unfortunate side-effects along with such a crash, but I'll gladly take a hit if it means affordable housing for Canadians.
As a homeowner, it wouldnt be the end of the world if my home value went to zero (exaggerating here) but it meant my young coworkers could afford to buy a place.
I still have a place to live after all
As long as you don't have to renew your mortgage. Might be in trouble then
According to the numbers, we need 3 solid crashes to normalize pricing.
Three.
On one hand, it kind of needs to happen. Our economy as a whole is overleveraged on housing. On the other hand⦠A large proportion of our MPs are either landlords or reported housing related income, too, so why would they want things to change?
Iβm in the unfortunate situation that I canβt possibly wait it out, for accessibility reasons. Iβm utterly pissed off at the idea that Iβm probably throwing way my life savings at a card castle thatβs waiting to crumble. Itβs just completely fucked up.
its completely ridiculous too from a value perspective. like really? 10 years ago this was 300k, what about it now makes it 1.3 lM? same with groceries I just don't believe that the prices are "real". I've seen a bunch of ads for toronto condos too, I feel like they're pumping a little too hard and it'll hit a breaking point. IDK, thats just the vibe i'm getting.
I bought at the peak for 750k and done close to jack shit and could sell for 1million. Bring on the fucking crash already.
It's not going to though. Too many factors driving the price up which the government is not addressing.
That wasn't the peak if it's still going up
Peak? What peak? Every year is going toward this infinite peak π π
They could be talking about the peak time for the rate of increase.
I was just thinking "they obviously don't know what 'the peak' means."
It was peak pricing at the time. That's how I understand it.
I own, bring on a crash. It also strains me in how I can move about and what I can get next.