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RE: Canada Will Soon Encounter MASS FORECLOSURES Even if Prices Keep Rising!
Have you had 20% price drops in real estate from 2 weeks ago in canada? Zillow estimates have dropped prices 20% in just over a week. What is that about? It means that anyone who bought a house in the last 3 to 4 years is now suddenly underwater on the equity in their house!
20% down in 4 years is not as bad as paying rent. Plus, saying prices will drop more is just a prediction. Prices could also turn around and go up 50% in the next 3 years just as easily.