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submitted 1 year ago by girlfreddy@lemmy.ca to c/canada@lemmy.ca

The landlord had told them he wanted to raise the rent to $3,500 and when they complained he decided to raise it to $9,500.

โ€œWe know that our building is not rent controlled and this was something we were always worried about happening and there is no way we can afford $9,500 per month," Yumna Farooq said.

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[-] w2qw@aussie.zone 3 points 1 year ago

Typically it's pretty low risk in comparison to other loans which is why home loans are relatively low but there's a risk that both the property value declines and the outstanding loan and selling costs is more than property value.

this post was submitted on 06 Sep 2023
647 points (97.0% liked)

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