The Alberta Economy

[DanG]

Originally Posted by mark

I'm still trying to figure out house prices and what going to happen to the people who have 30yr mortgages on $640K, 1700sqft when it all comes crashing down.

It happened in vancouver before. People had paid off $100,000 of their $1,000,000 mortgage and the values crashed and their houses were only worth $700,000. There were a lot of people who just walked away.