Everyone knows why real estate is expensive.

Today another sold over asking on a real estate sold sign, a for sale sign for 2 or three weeks.
Politicians and central bankers say they don’t know why house prices have risen above what Canadian currency holders can afford. They have middle class jobs though. Anyone who has U.S. dollars knows that you get a 25% discount if you purchase a house in the Greater Toronto Area. The Canada dollar has been worth 75% of the world currency, the United States dollar for almost 2 years now. Even if prices drop as they are expected to you’ll still be okay with a 25% reduction on a one million dollar property at mortgage rates not far from zero you’re in great shape.

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