Quote:
Originally Posted by pepper24
Calgary is affordable compared to Vancouver and Toronto but I wouldn't say it's that affordable overall, just in comparison. Not a bubble but not overly affordable.
It may be because I bought my first home in the early 2000s when it was about a 1/3 of current prices. Comparing wage increases from then to now and home prices have easily outpaced that.
I'd be miserable being in my 20s again trying to save for a down payment to afford a home today at current prices. I would never ask my parents to help me out either.
I'd seriously look at renting instead as I think there are better things to do with your money.
The whole ownership mentality in Canada is a big issue.
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Ownership isn't as big of an issue as unrealistic expectations.
I grew up in a 900 sq ft bungalow. My family was a family of 4. Nowadays, many young families are complaining a relatively new 1600 sq ft bi level is too small and cramped for a family of 3. Many think living in a 600-700 sq ft condo with a baby is impossible, even though millions, maybe even billions of people do this world wide with 3+ people.
What is considered "entry level" and "average" has significantly soared to insane heights in the last 20 years.