Quote:
Originally Posted by Devils'Advocate
If we ever had a housing bubble burst, we'd be in real trouble. Especially given just how many people have a retirement plan of "sell my house, move to cheaper area, live off proceeds for rest of life".
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That's hardly a viable option. Say the average price of a Calgary house is $500K, you can buy a cheaper apartment in Saskatoon for $300K so you pocket $200K. How long will that $200K last you if you have no other savings?
And moving to a cheaper city if you don't know anybody there is just no feasible.
A better approach is to invest in rental properties. Hopefully by the time you retire, the rental mortgage is paid off and you can eat the rent or the rental property's capital gain.