yonge city square condos north york.House prices plummeted. The Canadian real estate market has been hit by mortgage stress tests and interest rate hikes over the past year, affecting the purchasing power of buyers.Please Visit: yonge city square condos north york to Get Your VVIP Registration Today!
Recently, a number of real estate agencies and think-tank organizations expect that the impact of stress tests will continue and the property market will remain relatively low in 2019.
Recently, the valuation of the BC provincial government has just come out, and the owners of independent houses are wailing. Although the valuation of the apartment has gone up, the market price is actually falling. The whole warm housing market is like the miserable wind and rain this winter.
On the other side of Canada, the Greater Toronto area is not calm. House prices have plummeted in some areas, which has cost speculators all their money.
For the rich who are not short of money, it may not hurt to lose some money. But for some salaried workers who take out loans to buy houses, wave after wave of government regulation and control policies have driven them to desperation.
Recently, a middle-aged Chinese man in Toronto posted on the forum that he used his life savings to buy several houses when house prices were high, but now he cannot make ends meet, and one of them has lost 450000 yuan. Now he is reluctant to eat McDonald’s at noon. Unable to repay the loan, he has written a suicide note and found a place to commit suicide. Once interest rates are raised on the 9th, he will jump down from a tall building overlooking the CN Tower and end his life.
The Chinese also said in a reply that he was an old immigrant and was “fooled by an unscrupulous real estate agent”. Out of the idea of making some money, I bought several houses with a loan, but lost all my money in the end. I heard that interest would be discussed on the morning of the 9th, and it was even more difficult to accept the government’s practice of suppressing the housing market. So he came up with the idea of jumping off a building to solve the problem.
Under the post, many Chinese netizens expressed concern about the man’s condition. Many people advised him that there was no difficulty in the world, and that he could make a comeback even if he lost money.
In fact, it may not be the only one who wants to jump at a loss in real estate speculation.
A year ago, also in Toronto, a young Chinese new immigrant said he bought an apartment at the highest point of the Toronto property market and lost C $600000 in less than a year. The down payment of this apartment was saved by his parents who were reluctant to eat and wear all their lives, and they also borrowed a lot of money from their relatives.
In order to repay the loan, he worked hard to make money, doing everything, including restaurants, chicken factories, moving goods, and roofing. They only sell the cheapest cabbage, cabbage and discounted pork when they go to the supermarket.
However, as he handed over his hard-earned money to the bank, the government began to crack down on house prices until he lost the down payment.
“I can no longer bear and repay, so I can only walk away. I am really tired from working in Canada. My parents died in Canada. I am sorry to you.”
The words written by this netizen at the end of the suicide note made people sad in their hearts.
A year later, a similar scene reappeared. The authenticity of the two “suicide note posts” has actually been questioned by many netizens. Anyway, during the Spring Festival, I hope it’s just a joke, or say a few words on the forum to express my depression. Houses, money, are all things outside the body, life does not bring, death does not take, in any case is not worth the price of life.
There is also “the most trenched Chinese student in history” who reportedly bought a top mansion in Dawen for 31.1 million Canadian dollars (150 million yuan). But in less than two years, floor prices have lost more than 1.6 million Canadian dollars (8 million yuan).
Some credit cooperatives believe that there will be a “housing recession” (Housing Recession) in BC province in the next three years.