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Mortgage Broker News | 15 Jul 2016, 08:15 AM Agree 0
Finance industry professional says young people who are still finding their financial bearings should avoid buying houses altogether
  • Dustan Woodhouse | 15 Jul 2016, 10:51 AM Agree 0
    It would be worth clarifying that these are the words of Americans who live in quite a different socio-economic environment than CDN's.

    Perhaps the most difficult passage to make sense of is 'a non-investment home (especially in overpriced Vancouver and Toronto) is a somewhat difficult asset to sell'

    Really?

    Aside from June 2008-June 2009 selling any property in Vancouver since the 1980's has been a pretty simple task.

    Putting 10K, or 15K down on a 200K-300K condo as a home base, in a building that allows rentals so that you have the option of retaining it as an investment, is not something that I think has gone wrong for many 20-somethings.

    Especially the ones that are now in their 30's and 40's and have hung onto that first property long term.

    my two cents.
  • Foys | 15 Jul 2016, 11:25 AM Agree 0
    These guys make commission off of investments that don't include real estate. They are totally biased. They would never recommend real estate as an investment unless it was a REIT, where they can make some commission.
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