Quote:
Originally Posted by you&me
Completely agree, but I never said it was a good idea...
Exactly. I'm pretty sure - technically - a mortgage under the scenario I posted would be approved based on DSR.
Again, not a good idea, but far more "affordable" for the hypothetical couple in Calgary than anywhere else in Canada you'd want to live...
Edit:
Thank you taking the time to run the proper numbers
Even though my napkin math was off, I still think my general point stands that - for now - homeownership in Calgary is still (somewhat) reasonably attainable.
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Definitely attainable if making decent salaries of 50-70k plus at least