Quote:
Originally Posted by MillerTime GFG
No, but you did say in response to Fuzz saying "and who among us doesn't have 160k just sitting around?"
I'm saying what you think 35 year olds "should" be able to do is vastly different from what 35 year olds are doing.
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Many is different than most. Once again, real estate markets work by bench marks. You have a few bench marks in a neighbourhood in combination with cheap credit and the market takes off. And by a few bench marks, it can literally just be 3 or 4. So for example, if you have a dozen people, buying real estate in Lakeview bidding each other up, that would be considered many.
And I do think more people than you think will have access to downpayments of $160k or more.
Edit: I also stated specifically that it's going to be middle class people on fixed incomes that get the most F-ed by this. That group includes the bulk of Canadians.