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Most common scenario is to sell your Toronto home for 2m and retire to a 500k condo in Florida. And no, neither banks nor government would absorb the delta betw
by AzzieElbab 5y ago
Most common scenario is to sell your Toronto home for 2m and retire to a 500k condo in Florida. And no, neither banks nor government would absorb the delta between mortgage value and current property evaluation. Banks are probably covered by some form of government insurance which people would have to pay up through taxes
- heyitsanewacco 5y agoThere is another option. I believe Japan went through it in the 90s. So lets follow their example and do nothing about the real estate bubble too.