Can Canada get back down to a c$600k average home price? ** Cries in Vancouverish **

So sales are down..

..but prices are up?

I’m starting to understand why people starting burning down all the real estate in the book “Parable of the Sower. “

We need discounted public housing more than ever. Every goddam US city is built on public housing and ending that shit in the 80s is the stupidest goddamn decision with the most obvious fallout

That's going to happen if population continues to increase and housing supply doesn't keep pace. Between COVID shutdowns, following materials shortages, and now tariff fuckerey building has fallen way behind just barely keeping pace. We're also in the fallout from keeping interest rates too low for too long, lots of people have mortgages in the 2-3% range and can't sell unless something is forcing them to.

Fun fact: 20% down payment on $435,000 is $87,000 -- that doesn't include closing costs minimum monthly payments with a 30-year fixed mortgage at an interest rate of 6.889% would come in at $2,668 (this escrows taxes and home insurance). Just for fun, I'll share that in 2012 my partner and I bought our first home (1,800 square feet attached 2-car garage in the Midwest with typical appearance for a starter home) for $146,500 and 20% down payment was $29,000 - we put down $48,000 since we had it -- now you need nearly 3 times the amount to avoid Private Mortgage Insurance. Our minimum monthly payment was $1,032 on a 15-year fixed mortgage at 3.5% interest. The bar is just way to high for most people to even consider buying at this point. When we sold our first home in 2021, we sold it to a person who was planning to live their themself -- no rental companies was our stipulation.

Who wants to live in a 'burb where you can't be sure if it's your house or the neighbors, because you turned left one street too early... and get shot by the neighbor for parking in his driveway and trying to enter "your" home... that's corporate Murica... Gleichgeschaltene Gestalten

Jesus tapdancing christ. National median house price is near on a half fucking million dollars.

Anyone who wants to buy in or near an urban area: good fucking luck

Median household income in 2023 was $80,610. Which makes the median host 5.5 times the median household income. https://www.census.gov/library/publications/2024/demo/p60-282.html

When I bought my house about 12 years ago the bank said they would lend 4x household income. How are people even buying houses at this ratio?