I'm just so glad none of that happened here. We had almost 100% financing, but you can't easily pay more than 25 percent of income to pay loans. My Dad, who's 84 now, worked in the the family Legal Real Estate office for 55 years. In that time he saw less than a dozen foreclosures, and he said over half were under the table gambling debts.

I used to inspect bank foreclosures, about 1 a year, often due to being grow ops.

120 homes on my crescent, all just over 200k here, worth 2 million in Toronto, well maybe 800k. Never had a bad neighbour, no vacancies, no vandalism. Heck my next door neighbour put out 2 old tv's a month ago, and they survived halloween. Shocked even me, as a kid I'd have put a sling shot marble right through the picture tubes. But then I was a bad boy.

John Conley
Musica est vita