Quote:
Originally Posted by MarkyMark
Let's be honest here, prices are most likely not going back down past what they were a few years ago. So what if your house goes back down to what you paid for it, heaven forbid. What big risk did they take? They bought a place to live in. If their plan is to live there then that's not a risk, unless they decided to buy a place they couldn't afford the payments on, and then that's on them .
Over the next 20 years prices will go up for sure, population isn't going to decrease, so demand will increase the prices everywhere in the lower mainland if you're willing to stay where you live.
I'm not a villain for wanting prices to reflect what people earn in this city. Say what you want about it not just being foreign ownership, but one in ten houses being sold to foreign "investors" isn't peanuts, its the biggest factor bar none.
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so if you know housing is going to "to up for sure" in the next 20, why don't you get into it right now? stop calling it "luck" that people got in before and made a profit and on it. ITS GOING UP FOR SURE!
edit: also you mentioned 2 years ago you could of got a house for $450k, now its at $700k. honestly, that sounds like a great deal still depending on type, location etc etc