Quote:
Originally Posted by Red
I agree, paying a $1500 morgage can't be fun.
I remember when I bought my first house 6 figure mortgages were considered huge, mine at $82K was a hefty one. Now people are looking at getting 4X that and I don't think many people take home 4X the money they did in the early to mid 90s.
It's rough out there, no doubt about it. I have two boys and and I'd like to get them started out for when they are old enough, but at these prices I can neither justify it or afford it. The one option is to buy 2 houses in Winnipeg now and hope that they will have enough value for a decent downpaymet in Calgary in 15 - 20 years  |
Depending where you are and what type of property you are in right now, I have a list of people who would give their left arm for that $1500 mortgage, if you actually have one. People do indeed take home much more than you think today vs. the mid 90s. Average homebuyer's individual income today is $60K, get a couple together that's $120K.