Originally Posted by Deep 3.2TL
I believe it's an islamic thing... don't buy what you don't have the money for kinda thing.
Agree with it for some stuff - just not a house or car... Not Muslim myself, but people wouldn't get themselves into trouble if they did that with more stuff in their lives...
One would have to spend their lives working to afford a house without a mortgage - and all the while the market was increasing...
Honestly, I have seen that in many religions. I am sure there are better reason why people do not want to buy. The future in Toronto is very unceratin. There is no money for subways and what not, but you have too many people here. So people just want to have some options. Also I know lots of people that lost money in realestate. One thing that I find funny, everyone brags when they make money on their house, but the ones that get burned, they keep quiet. Also as asian countries step up their game, many tend to go back. I am sure we have many indian and chinese going back.