Quote:
Originally Posted by JiriHrdina
{Waves his hand}
It is frustrating isn't it. I've been in a situation where I couldn't buy something for a number of reasons, but now I want to and I don't know if I can afford to do so. One starts to think hard about leaving this city simply because I don't know if I can afford to be a home owner here.
But I'm not whining about it - its the nature of the market, and I made choices that got me to this point - none of which I regret. But it does make looking around for your own place a bit frustrating.
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Could be worse. I had a chance to buy a jr 1 bedroom condo late 2005 at the London condos on MacLeod. At the time, I had no clue what the market was like, but because of debtload and the fact that if you are single, you are screwed when it comes to a mortgage, I couldn't get a larger one I wanted, and decided to spend the next year saving and paying off debt, then buying into phase two.
Queue the bubble. So, after spending a year knocking my debt down from $10,000 to $5,000 (and will be paid off entirely by the end of summer), and increasing my savings from $800 to $8000, I've fallen behind $100,000 on a bloody jr 1 bedroom by the market boom.
It was frustrating and incredibly depressing to look at the prices for phase 2 when they came out.