By Heather Mallick Star Columnist Fri., April 6, 2018 The Toronto housing bubble resembles a drug epidemic in that it’s dangerous, addictive and will destroy your health, bank account and family. The pills dangle before your eyes. Yes, you get a wonderful floating high when you score a big profit based on nothing but the passing of time and a well-timed flip. But sooner or later you’ll encounter a sudden drop in the market and it will do you in. “This impacts your health. Financially, it breaks families,” one trapped homebuyer told the Star’s real estate reporter, Tess Kalinowski. He is in a pickle. He offers lessons for the fortunately not-yet-pickled. Kalinowski writes expertly on the consequences of an unreliably hot market. (There is no such thing as a reliable one. That’s the nature of the beast.) Kalinowski’s job is to take the long view. The buyers took the short one. Readers are aghast. No, we would never do that. But we might. In a remarkable Thursday story, Kalinowski talked to wretched buyers at a new high-priced Oakville subdivision development, Mattamy’s Preserve homes, who think their plan had only one flaw, the 2017 price drop. But the fault lay in… Read full this story
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‘Lower your expectations’ is good advice for real estate — and life have 276 words, post on www.thestar.com at April 6, 2018. This is cached page on Konitono. If you want remove this page, please contact us.