Tuesday, October 6, 2020

Toronto housing hits the peak again, except nobody is paying

 


This is fun, first we had laundry money, and now we have 'air' money.  Big sales at a high price, and then nobody is paying the down payment, the deposit, etc.  

Condos aren't worth the paper they're built with.  My friend's agent says "Every house from here to Wasaga Beach is worth exactly 1.2 million".  

We are also in a zombie market where nobody is paying the banks.  Sooner or later, zombies just rot away. 

ps.  I predict that the first bank will activate the first foreclosure at Christmas.  Wouldn't that get the wailers wailing.


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