Realtor and publicity hound Lesli Gaynor thinks she’s got a good thing.Judging by the media coverage her Go Co enterprise with its ‘real estate speed dating’ has received, no wonder.“Consumer sentiment on real estate has gone from hot to hotter,” he says. And this house lust comes despite the fact most think the economy blows.
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The idea’s simple: because fools have pushed house prices too high for average people to afford, why not buy using crowd funding?
Or at least teaming up with other people are just as house-horny as you? In BC, Vancity has been pushing team mortgages and shared property ownership for a few years.
Ontario’s biggest and scariest credit union, Meridian, has a ‘family and friends mortgage’ accepting up to four people on a title. It breaks Greater Fool cardinal rule #7: “Never buy real estate with anyone you have not slept with.” Seriously.
But this movement to cocoon with somebody you met at a sleazy networking event, comingling your financial fluids, is consistent with what pollster Nik Nanos just discovered. Nik also found optimism was the highest where prices are the most delusional – Vancouver and the GTA.