Can mortgage rate suppresses the Realty Dragon ?

Banks show restraint on mortgage rates one year after Flaherty’s warning

However, other prognosticators, such as bond giant Pimco, expect mortgage rates to rise this year. Ed Devlin, head of Pimco’s Canadian portfolio management, said in an interview Monday that he expects to see house prices … The Globe and Mail

I am a little skeptical mortgage rate or mortgage insurance premium alone can do the job … Why even try to contain what is considered “good times” ?

Just buy …

80 Victoria Park Avenue – BEACHES

This place must have been REALLY nice inside.Because this 4 bedroom, 3 bathroom house on a 21 x 255 foot lot at 80 Victoria Park Avenue that used to look like this…

And was apparently torn down and rebuilt…

With front steps that look like this…

Which for some reason just makes me think of this….

Was listed at $1,589,000.

And it sold……..

For $1,589,000.