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Everybody will go thru both good times and bad times, a lot of people who buy condo today are mostly dual income and they buy a condo when they young and work to pay it off using installments over 20-30 years hope nothing goes wrong and their income will never drop or business will never go bad or go bust and there will never be bad times ... get it right boom town but if hit a few recession one after the other wah jialat many will start praying they don't lose their jobs.
Talk about the 90's there were already 2-3 recessions and under Alan Greenspan they raised interest rates so many times that happened all the local banks in the region all follow raise interest rates so most people installment payments went up and will start to look for cheaper refinancing unless they were conservative enough and went for fixed interest loans all the way from the beginning which not many people will be so conservative.
Personally buying condo short term for quick buck ok but for long term is not worth it because if the next cycle comes round the government will release new land for development there will be new projects people will only interest in new projects who want to stay in an old condo project?
Talk about the 90's there were already 2-3 recessions and under Alan Greenspan they raised interest rates so many times that happened all the local banks in the region all follow raise interest rates so most people installment payments went up and will start to look for cheaper refinancing unless they were conservative enough and went for fixed interest loans all the way from the beginning which not many people will be so conservative.
Personally buying condo short term for quick buck ok but for long term is not worth it because if the next cycle comes round the government will release new land for development there will be new projects people will only interest in new projects who want to stay in an old condo project?