Quote:
Originally Posted by GGG
I think it was fairly common for middle class earners to live in 1000 sqft bungalows without cable and not buy new cars. You can't buy a sub-1000 square foot house anymore. Also Monthly payments for 25 year loans have relatively followed inflation. The housing price increase is mostly driven by cheap interest rates.
I do agree with you that subscriptions did use to exist but I do not believe it is as ubiquitous as today and certainly not as convenient to sign up and have recurring payments just do to payment tech.
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I disagree strongly with this.
When you purchase a home you have to list your occupation. You can go back and look at records and see what kinds of occupations would purchase homes in certain neighbourhoods. There is a stark difference between then and today. You have entire swaths of Canadian cities where firemen, teachers, policemen, plumbers, etc..could never dream of affording a house. It's different than it was 20 years ago.
Calgary may be a slight exception, as it's actually going through a recession right now. However, if you look at the other major cities, you can see what's going on, and it's definitely different than anything in the past 70 or so years.