22 Mar Home builders talk housing affordability
YP Next Home | PDF
It’s the same advice he gives his kids when they want to buy a toy they can’t afford; the advice he offers friends when they want to buy a sports car that’s too expensive; or the advice he gives himself when those dream vacation ads pop up in his Inbox each November.
“The biggest threat to our strong real estate market and local economy is a generation of buyers who, in pursuit of the housing dream, throw caution to the wind, assume a crippling mortgage, and take on more debt than they can handle.
“Don’t get me wrong; just because I believe financial discipline is the secret to financial freedom, doesn’t mean that I don’t believe in making purchases and investments – large and small – that are right for me and my family, at the right time. And that is my advice for today’s new condo purchasers thinking about buying into today’s real estate market: Be disciplined. Be prudent. Be responsible.
“Housing affordability, like beauty, is in the eye of the beholder. Make sure you pay attention to both, and I’m certain the current Toronto condo market will, at the right time, offer something both beautiful and affordable.”