Quote:
Originally Posted by Gerbs
Just got into first home at Joyce for $530K, I feel as though I don't have any hope in ever upgrading. Any equity I gain in the market, the 2BR + TH's also go up in equal amounts. It's actually pretty doomy and gloomy. Not sure what to do but it probably stresses me out everyday.
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Not even equal amounts... equal PERCENTAGES... which is even more depressing because it's worse for you on the bottom end.
Like for me I bought in my neighbourhood at $365k for a condo when townhouses were $650k... now townhousea are $1M and condo is $530k... so yah mine went up 50% and so did the townhouses... but in actual dollars needed to pay for it, mine went up less than $200k but the townhouses went up almost $400k...
The dollar amounts are not tenable mortgage wise for moving up despite the percentage gains being almost identical.
That said, I wouldn't stress about it... you can't control the market, you can kind of control what you earn so attack that if you want to... but if that also isn't possible, then I have found just being appreciative of my situation relative to others worked for me and just understanding that the amount of space around me isn't what defines the size of my life/happiness.