As people line up to save a couple of dollars on a gas fillup, others are lining up to sign for a $1,00,000 home in a few frenzied minutes anywhere even remotely close to Toronto.
People have lost all their marbles...........
A couple with a $150,000 joint pretax income (or in some cases just saying they do), and $150,000 down payment (or 0 with a cash back mortgage or a "gift" from family), and a decent credit rating, qualify for a $1,000,000, 4,000 square foot home crammed onto a 40-50 foot lot............and they are lining up all night for the right to buy them.
Our government has created a feeding frenzy, and have shown no inclination to apply the brakes. They seem content to wait until it just isn't possible for people to meet the qualifications anymore...........and that will be when it ends.
At the very pinnacle of debt burden possible.
I don't see this ending well.