Another myth is that housing only goes nowhere but up and real estate offers the highest rates of return. Reality is that some markets, especially Calgary, have suffered mediocre/terrible returns.
A single family home bought in 2009 for $400k that is now $475k – average annual rate of return ~2%.
A single family home bought in 2009 for $600k that is now $725K – average annual rate of return ~2%.
And that doesn’t even take into account property taxes, maintenance, repairs, upgrades, renovations, and everything else that goes along with a property.
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