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Gerbs · 11-12-2020, 01:37 PM

I think what stresses me out the most is that people around my age think that housing will be affordable once they finally make $70,000 - 100,000 a year. They have no savings plan on how they'll save their $100k-150k downpayment. They also think they'll be moving into a 600 - 700sqft brand new 1br condo in Downtown Vancouver, Burnaby, or Richmond with that type of income.

Not sure if it's the general population that is delusional and uneducated on the affordability or just people I've talked to when it comes to how much house they can actually afford. The nail in the coffin is when they realize they can't afford it and the bank of mom and dad just drops the $300k down payment so they can qualify.

11-12-2020, 01:37 PM	#16687
Gerbs OMGWTFBBQ is a common word I say everyday Join Date: Nov 2010 Location: / Posts: 5,431 Thanked 3,167 Times in 1,255 Posts Failed 264 Times in 80 Posts Member's Picture Albums	I think what stresses me out the most is that people around my age think that housing will be affordable once they finally make $70,000 - 100,000 a year. They have no savings plan on how they'll save their $100k-150k downpayment. They also think they'll be moving into a 600 - 700sqft brand new 1br condo in Downtown Vancouver, Burnaby, or Richmond with that type of income. Not sure if it's the general population that is delusional and uneducated on the affordability or just people I've talked to when it comes to how much house they can actually afford. The nail in the coffin is when they realize they can't afford it and the bank of mom and dad just drops the $300k down payment so they can qualify. __________________ 2022 Velo N 2005 S2000 2007 CSX Type-S [Sold] 2002 RSX-S [T-Boned]