Earlier quoted context omitted.
It's a bit of a fool's errand to follow that advice though, you could have been doing renting in urban Canada for years (decades even?) being told a crash is coming any day now eh has too. And now it's extremely unlikely that one would wipe out the compounded growth from if you'd bought when you first thought of it. I think if it's to live in, just do it. Save market-timing for a second home/investment/flip - and eve…
That’s a funny statement considering parts of Toronto are down 30% in the past 4 months and the Bank of Canada hasn’t finish hiking rates.
Unless you mean having bought there 4m ago would suck? Well, sure, but this 'advice' is only for a home, where you live, not an investment property. And as for looking right now vs. waiting short-term for prices to drop (and paying rent meanwhile) - that's surely priced in. Suppose it could still make sense to someone personally if it put them in a better mortgage position (at the risk of a worse rate).