๐จ๐ฆ Canadian Housing Crisis
Some Canadians may now owe more on their mortgage than their home is worth.
A friend bought a townhouse in Jan 2022 for $1.1M.
Today, it may be worth around $700K โ while the mortgage is still about $760K.
Thatโs roughly $400K in lost value and $60K underwater.
Housing prices donโt always go up.