I’ve got a condo in downtown TO, very central. The mortgage on it is down to 80K. Do you think that the market for condos downtown, on the subway line, will be equally affected as suburban developments?

- Dave

There are 56,000 condos in the production chain right now. Beware the twin gods of Supply & Demand. — Garth

the real question if your a first time home buyer do you stretch to the limit to buy a place? Depends, if you on a career path that will lead to large increase in income than yes buy, live frugal and then pay it off quickly.

The market can still irrational far longer than people can stay rational. The real problem is timing the end of the market. Here in Spain were I live were going through a crash that will rival the worse of the US crash. Although you may know that it is still very difficult to stay out of the market as you see prices rising year after year after year.

but remember we have the olympics. a 2week extremely expensive party which developers will profit with tax payers money.

I agree with Jeff here…the typical vancouver 2 level home east side ranges from 6ook to 700k while the west side is over $1 million.

i still believe the average income here 65 K. I believe you can rent a house for 2K/ month.

But with standard mortgaGE 25 % DOWN (on a 650 K house) that is $163000 downpayment .

then mortgage $485000 k @ 7% interest that about @2850/ month before taxes insurance heating lighting and yearly maintenance. can we agree it will cost approx $3100/ month. that is alot of money. I don’t that many people with $163 K lying around. what you are saying in your book that the average d/p is 15% no longer 25%down to even less than 5%. I just heard on TD that are giving a cash back option of 7 % with a maximum of $17000. They are just going to add it to your mortgage…correct if I ‘m wrong people. A new twist to an old story.

if I’m wrong let me know it. Bring it ….people!!!