I was in a bad mood earlier this evening. I’ve found an entertaining way to cheer myself up though.
I go look at Edmonton for-sale-by-owner-listings, and do a search for assumable mortgages.
$238,000 for a 453 sq ft one bedroom near NAIT. Cash to mortgage is ~$10,000.
You’ve got to be joking.
That person is going to get burnt because they bought foolishly.
I’ll grant there’s an element of shadenfreude to my laughter. However, to borrow from Warren Buffett’s famous quote, the tide is out and there’s a couple of naked people out there.
I’m glad I’ve got a pretty good wetsuit.