Quote:
Originally Posted by afc wimbledon
Actually true in Vancouver right now, its a stupid place to buy a house even if the price doesn't fall, told my daughter to move elsewhere, she's got a nice life in Halifax on 50,000 a year, I will probably retire out there in a few years as my crumbling ex grow op in East Van is worth 1,500,000.
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Not really. No guarantee that there will be long-term growth, particularly if you see it as a long-term retirement investment starting now.
The gains a normal person sees from flipping houses is pretty negligible unless you are very, very lucky, and most of those gains have already occured, and been gobbled up by you Boomers.