No.
Agree that the ongoing level of WFH isn’t clear and even if you have to go into the office semi-frequently commuting distance will still be an issue. Really depends on your longterm plans. The Canadian housing market makes zero sense and has become unaffordable for most. The time for action to keep housing from huge increases was in the early 2000s but instead governments increased loan terms, made borrowing easier and allowed housing as a proportion of GDP to get to levels where it will hurt a lot to pull back. Most countries hoped that insurance rates would increase and price increases would decrease to reasonable levels. At this point Intergenerational wealth has allowed many under 40 to get into housing and pay for things like daycare in cities like Toronto and Vancouver. Baby boomers and those who got into the housing market earlier have made millions doing nothing. politicians know something needs to be done but nothing will bring back prices to where they really should be based on median incomes and the 40+ year olds, who tend to be the large percentage of home owners, also vote so they don’t want to do anything to lose those voters. Such a mess.
Disagree that baby boomers - home owners doing nothing. Keeping/Owning a house costs money or involve doing work such as mowing, snow and weeds removal. Fail to do so, the municipal government will ask for fines and make sure they maintain.
Living in a home and accruing a million dollars in equity is doing nothing. You can be renting a home and mow the lawn, shovel snow, etc. Yes may have had to do some regular maintenance but many have not. You have done no extra work except being at the right place at the right time.
Seen many neighbors upgrade their home such as painting, building additional garage / rowhomes. Surely, they were doing so to accrural more in their house value.
Yeah, maybe somewhere in Ganglandif I have 1mm i would buy a house in california...))
maybe not there then, but another place
I just find it ridiculouse to pay this much for such a bad small housingCan you buy a house in manhattan with those funds? I doubt it and probably parking stall not included.maybe not there then, but another place
i guess it depends on what people are willing to pay for something specific...
Simple answe is No. Not all immigrants can buy a house in GTA. And No, not all Canadians (even ones born here) can afford to buy a house in GTA.
You are wrong. I moved from California and can tell. Only Bay area, San Diego and LA area along the coast line in expensive. You can easily buy a decent house for $500k-$600k in cities like Fresno, Sacramento etc. And Fresno is bigger than London Ontario in terms of population and have decent economy and amenities, like big hospitals and learning institutions for people to live. This housing crisis should have been fixed a long time ago in Canada. It’s just not fair for young Canadians and new immigrants to go through this. Level of immigration should have been kept along the level of construction.
