Quote:
Originally Posted by Oling_Roachinen
Obviously cherry picking, but if you tried to buy a house in 1985 in Calgary, you're looking at $75,000. In 2006, the average house is costing you $450,000.
Inflation between 1985 and 2006 wasn't quite doubled yet prices increased 6x.
Even if you don't cherry pick on the boom and busts, the cost of housing inflation is just in no way comparable to the dollar inflation. |
Right, but interest rates were up to 20% back then. I've never compared the affordability between now and then, but I suspect it's similar. Housing prices don't tell the full story.