Quote:
Originally Posted by Tapioca
^ I don't think you'll find anyone here who doesn't agree with the need to tame the market
The thing is that if you and your partner are really above average earners and have good credit, you can get into the market. No, you won't get a house unless you move to the deep Fraser Valley, but you can get in. Of course, it's risky, but so is driving your car to work every day.
I owned a shitty (but modern) condo in Brentwood for 9 years. I didn't think prices were going to blow up when it came time to sell, but they did. When you're in the market, you ride the good times and bad, but the key is to be in the market . The longer you wait, the fewer years you have left to pay off a mortgage (because, do you really want to pay a mortgage off at 70?).
I get the rent and invest the difference bit. This makes sense for some, particularly if you're mobile, are single or in a relationship with no kids. However, it sounds like you really want to own, so I suggest you consider my tidbit of advice.
It sucks that you can't have a house in the location you want, but such is life in Vancouver.
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I still plan to get into the market early next year either way, at the end of the day I want a place where i don't have to answer to someone else's rules. I'm not upset at anyone other than the government for letting it get this out of hand before doing anything. Two years ago I could have bought a house for around 450k, and now that house is worth 700k and I'm gonna have to line up to get a presale for a townhouse that's a fraction of the size for that same 450k, more or less.
If we all just said 'such is life' then this 15% tax would have never come to fruition. The squeaky wheel gets the grease and I hope people bitch long and hard until the government does right by its citizens. I don't agree with people that say that's life deal with it, when we have the power to make changes.