Quote:
Originally Posted by 6thGear.
The house I grew up in, Broadway/Nanaimo area, had our neighbor (elderly widowed wife) selling. She offered to sell it to us for $250k. My mom ran to the bank, had approval as a rental property but my dad refused to sign the papers. He kept saying we didn't need it, what do we need all this land for. My mom told him, rent it out till one of us kids can move in, in the future. He never signed it.
Just a couple years ago, 1 of our old neighbors ran into my sister and told her our old house was part of a land assembly. The house next door that we could've bought was also part of it. All these years, my mom would see house values increase would smack my dad as a stark reminder what could've been.
Some of our parents, mine included never saw the big picture and the lucky ones who did are reaping the benefits now.
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I feel like “normal” people never saw or anticipated housing being commodified as it has been
I have a few friends who have very wealthy older (80+) family members or step parents etc. and those people seemingly did see the potential as many owned many properties or always leveraged up to the most expensive house they could possibly afford at the time and that’s still the advice they give today