Quote:
Originally Posted by CivicBlues
Ugh. Reading this makes me want to puke. This is what's wrong with the Canadian Real estate market...no wait Canadian Society right here.
Poor guy. Probably pressured by his in-laws to make their daughter 'happy'. 23 years old and already saddled with probably 600K+ in debt plus half a lifetime of mother-in-law drama. At their age I was ready to take on the world. Hope they're happy in Etobicoke  |
So just because people want something different in life than you they are wrong?
They will probably be laughing at you in 15 years, when they have a comfortable life, with a paid off house, taking trips to europe, two nice cars, etc.
Quote:
Originally Posted by Nlkko
Fucking disgusting. That couple combined income probably less than 80k-90k. Trying to buy a house with value 10 times that.
I don't know does nobody knows what living debt free feel like? I can tell you: it's fucking great. Too many people being pressured into working shitty ass jobs for scumbag bosses because they're drowning in debts and cannot afford to stay unemployed for even a month.
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They have 500k cash. At 800k they have over 60% down payment. How is this an issue? Even if they only earn 80k a year combined with payments around 3000 a month, they could easily make a living and pay the 300k mortgage off in 10 years. And that's assuming they make the same combined 80k a year the entire time, which is obviously ridiculous, they are only 23 years old, their income will obviously go up in the next 3 years. These two are in better shape than 80% of the rest of the new homeowners in this country.
It's great that you don't want a mortgage, but real estate historically has been a good place to store and create wealth. These two are lucky enough to have parents who are generous and can afford to give them some money so they start their life together off on a good foot. Atleast they are choosing to use it in a manner that benefits them in the long run rather than blow it on a new BMW and vacations to the Caribbean and shit.
You guys are just shitting on these two because their parents gave them 500k. If this was a couple in their 30's who had saved up 500k, looking to buy a house, nobody would bat an eye. In fact they would probably use them as an example in this thread and point out the fact that it is so sad a couple in their 30's had to save for 10 years before being able to even afford a downpayment on a place.