Comment of the day: credit crunch not tragic

“The credit crunch will only have a slight effect on mortgage availability for people buying $350,000 condos (which is quite cheap for downtown). It certainly won’t result in people having to pay only cash! That’s just a completely ridiculous assertion. Financing will still be widely available, but it will be harder for people to stretch beyond their means. The days of interest-only financing could be over, and that’s a good thing.”

UptownR commenting on Jane’s comment on our post about Metropolitan Tower’s closeout special

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