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It’s called FOMO; the Fear Of Missing Out. It’s the number one reason you think you have to buy a home right now. And guess what: the real estate agents know it. They talk about building equity, and tell you about clients who sold at prices way above asking, with competing offers, and with selling prices several times their original investment.
Those stories may be true, but let me give you a different perspective. In 2015, 121,609 people in Canada declared personal insolvency. Based on the profile of the average insolvent person, 24 per cent of all insolvencies we performed were for people who owned a home at the time the…
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