Thursday, January 8, 2009
Maria Mak - Vancouver Real Estate Agents - Don't blame Real Estate
However, when you think of it - it's not the drop in the value of your home that causes financial stress, it's your ability to service your mortgage and that's a factor of the sharp rise in unemployment, not the drop in home values. Quite frankly, you qualified to make payments on your home in the first place, so once your mortgage is in place, what happens to the value of your home after that has little relevance to your ability to continue making those payments.
So the real cause for concern for most Canadians should be rising unemployment - not home values. So Please don't blame real estate, this is not a proper timing to point fingers at whoever, whatever.etc. Our economy will pull through, just like a roller coaster, it will be UP again one day.
If you're thinking of buying and selling real estate, contact Maria Mak and my team at Sutton Centre Realty at 604-839-6368, or visit my website at http://www.mariamak.com/, you'll be smiling too!