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Housing market
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OldMcdonald
Posted 9/13/2021 06:39 (#9217601 - in reply to #9217545)
Subject: If they can’t pay, they’ll just hand the keys to the bank


Napanee, Ontario
“I can tell you from our past experiences, when a tenant becomes a home owner with no skin in the game, they will walk the first issue they have. I am no expert but this housing thing will become unraveled within 4-5 years.“

100% agree with you

Plus you guys have that landmark case where you can just hand the keys to the bank and walk away

[1969 - Jerome Daly v. The government]

EDIT TO ADD:

In Canada, we have no such prescedent. You are stuck with the mortgage no matter how under water you are on the house...

Edited by OldMcdonald 9/13/2021 06:49
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