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No oil? No problem

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Real Estate Professional | 17 Dec 2014, 08:52 AM Agree 0
Oil prices might be sinking, but they’re not taking the housing market with them.
  • Alan Hamid | 17 Dec 2014, 05:58 PM Agree 0
    I believe the average Canadian household would be able to save around $100/month due to lower oil prices. One way to look at this savings is that it could be used towards making extra payment for exiting mortgage to pay it off sooner, or consumers could afford an additional $25000 of mortgage to buy a bigger home.
  • CHERRY | 17 Dec 2014, 09:52 PM Agree 0
    IT WOULD BE FOOLISH TO TAKE THE LOWER OIL PRICE ..WHICH MAY BE SHORT TERM...TO PAY MORE FOR A BIGGER HOUSE, GIVEN THE FUTURE PROBABLE RISE IN INTEREST ON MORTGAGE RATES.. WE ALREADY HAVE TOO MUCH HOUSEHOLD DEBT AND OVER PRICED REAL ESTATE IN TORONTO.
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