Quote:
Originally Posted by GirlySports
Yeah did a quick search Vancouver looks bad. Lots of condos for under 300K but houses? forget it. Condo might be a good place to start for a few years.
|
K....then how do you make the jump up? You are tied to a condo with large mortgage. A decent sized 2 bedroom condo is going to cost $400k, and that's in the suburbs. In Vancouver proper a condo above 600 sq feet is going to run closer to $600k.
The issue is that the price of detached homes and even townhouses have now outpaced the condo growth. So while you are holding onto that condo and paying down the mortgage, you are actually falling further behind. 1 step forward and 2 steps back.
The problem with your suggestions is that they only hold true in markets being driven by internal forces. Where people can get jobs in line with the real estate prices. Foreign investment has made that impossible.