ok heres part of the reason:
My dad moves to Calgary in 1973. he starts working in construction, does well and gets paid well. He made something like $18 to $24 per hour. He built a house in Okotoks for $73,000(2200 sq ft on huge lot). I think that included the lot, but not sure. Now I could go out and get the same construction job and probably be paid about the same. Maybe a bit more over time. But to build a home, ya right. I couldn't afford the payments if the bank would lend me the $$$ to do it. So how does someone making $50,000 a year afford a mortgage of $1500 a month and bills on top, and save for the future?? Having a home is saving for the future i suppose...
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