Quote:
Originally Posted by trollface
I have no idea how ppl in their 30's pull it off anymore.
Houses went from 400k to 2.5m. A crappy TH will run you 700K-800K now. That's a 2k mort payment every month before you even turn the lights on.
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$2k/month?
A TH at $800K, 20% downpayment is like $2,555/month @ 1.49% and $3,367 4%. We'll likely hit $4,000/month at 6% before we ever see sub 2% again.
There's not many TH's in $800K in Vancouver to my knowledge.
Quote:
Originally Posted by trollface
I have no idea how ppl in their 30's pull it off anymore.
If you make 100k, that eats up half your monthly income before you even think about eating. Let's not even think about Strata fees and $2.22 gas.
Yet everyone I work with has a 50k car. Depressing af.
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The trick is everyone who actually did it without parents are making over $100K in the mid 20's and are closer to $130 - 300K in their 30's. Mix of salary, self contract work, investment income. They're also the top performers in their careers with all the licensing, certs and designations. I think the people you might be comparing to are more likely to have had help from their parents or bought pre-2016. In those cases, you probably need to upgrade your parents because they ain't giving you enough help
