Frazer Hadwin is single, has an above-average income and $3,000 in debt. He’s looked and even bid on homes in Toronto, but Hadwin has put aside buying a place for the time being.The 47-year-old project manager, who has worked on international events, including the London Olympics, Toronto’s Pan Am and Invictus games, doesn’t think the region’s housing market has caught up to the reality of the post-2016/2017 boom. He also has doubts about the global economy: Brexit, the unpredictability of U.S. President Donald Trump, pipelines and China are some of the international issues that trouble him.Hadwin is among the 32 per cent of Ontario singles considering buying a home on their own and the 52 per cent of single Canadians (the number is the same in Ontario) who say economic uncertainty and high home prices are making them hesitate, according to the findings of a Leger online survey for Re/Max released Tuesday. Hadwin says he’s not the most economically savvy guy. But, he said, “We’re damned if we do and we’re damned if we don’t. Interest rates are low enough that a mortgage is still decent and even a variable rate mortgage is probably not that big a gamble. But the other side of that is that interest rates are low enough that you don’t make money on your money because the banks can’t turn it around and make more money off your money. To me it feels like we’re kind of in a stalled economy.” The survey found that urban singles are more hesitant than suburbanites —48 versus 43 per cent — because of the high cost of ownership. Thirty-eight per cent of the singles surveyed saw a home as a good investment. Among urban residents, the number was higher at 51 per cent. Read more: Ontario looks at revamping the rules of the real estate gameCanadian consumer confidence slump shows no sign of reversingAppeals backlog has left up to 28,000 homes in development limbo, says business groupThir ...
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