Over at the Globe and Mail Rob Carrick points out that real estate is expensive in Calgary, Toronto and Vancouver calling them ‘Desperation cities‘.
But let’s get real. Not being able to afford a condo isn’t a ‘desperate’ circumstance.
Maybe it’s the fall out of overpaying he’s talking about though…
The theme in housing market forecasts for 2015 so far is steady pricing. Some markets will more or less be flat, while the Big Three markets could rise 3 to 4 per cent. What more could go wrong if you’re struggling to save enough money to buy a first home? Here’s something: You buy and then have to deal with a shock to the economy. Something like a plunge in oil prices that undermines growth and hurts the job market, for example.
In any case if you have shelter, enough food and the company of loved ones you’re pretty lucky on a global scale. Maybe you’d be happier with granite countertops, but then again maybe you wouldn’t.