Quote:
Originally Posted by blankall
Yes, but you never actually mortgaged 100% of the home.
You're also comparing the time just after a major crash, when the government was doing as much as possible to stop people from borrowing money.
So basically you're argument is that people now can buy a home in an undesirable area now, and the new norm for that is comparable to the worst time in Canadian history to mortgage a home.
In what way was the housing climate in 1980, just after the government jacked interest rates, considered positive. People complained non-stop about their inability to buy houses and it was a major national crisis.
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In Calgary the median family income can afford the median SFH. I find it tough to see an affordability issue when that is the case.
As an aside I don’t think we give Gen Xers a hard enough time. I’m the tail end or the start of the millennials but bought a house a year too late. Gen X got to profit off the property increase along with being in higher earning jobs during the 2004-2014 oil boom rather than just starting careers.