it might hurt, but they should have waited to buy. i mean, that's how this is supposed to work. we can't keep spiralling housing prices up ten times faster than wages - this is unsustainable. this microgeneration might get nailed, but readjusting the prices to correspond more reasonably to realistic wage levels will help the next batch. the challenge is going to be in keeping it there.

it will also hurt people about to retire, but it's necessary and people need to plan for it.

it's also a good lesson. investments carry risks. investing in property is not a sure thing, and should never be treated like money in the bank.

www.cbc.ca/news/business/ccpa-housing-correction-1.3310401