When TD Canada Trust did its annual condo poll (results just published) there were three things worth noting. Two you will find amusing. The third requires two changes of underwear, a sedative, three scotches and a major roll in the hay to restore mental balance. Of course, you can just skip the poll results and the rest of this blog, and go directly to the cure.
First the amusing stuff. Why do people buy condos, which make up the hottest part of the new housing market? In equal amounts (about a third), the box people say it’s because condos are “good investments” and owning one, “is cheaper than paying rent.”
It’s easy to understand how the horny young ones can fall for such a line. Mortgage rates are dirt cheap, and when kids compare the cost of carrying $350,000 with a VRM and a 30-year am ($1,437 a month) with rent for a one-bedroom pad ($1,650) it looks to them like a no-brainer. Especially when their idiot parents are yapping at them about ‘throwing money away on rent’ and ‘paying somebody else’s mortgage.’ (more)
No comments:
Post a Comment