Published on 18 Dec 2012
Short discussion on Rent vs Buy in Canada.
An excellent calculator can be found here:
http://www.nytimes.com/interactive/bu…
Note 1: If the prime lending rate rose 3% that would be a 100% increase!
Note 2: This calculator only allows for a 10% decrease in home prices most Bank economists expect an average of a 15% decrease for 2013.
Note 3: My statement on many Canadians not affording their homes with an increase interest rates is better reworded to many. This was based on a 2011 CAAMP poll.
By Bruce Joseph
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