Many Franks pointed out this article in the Globe and Mail and then pulled out a whole bunch of gems.
“Here’s a hilarious litany of Vancouver real estate orthodoxy straight from the punch bowl:”
…the city renowned in popular mythology as a place with such astronomical house prices that its young will be forced to live in basement suites forever…“
That’s right, buy or basement suites forever, your choice.
…There’s definitely sacrifices. I budgeted. I didn’t eat out. Some could say I missed some life experiences. But if you have that [home ownership] as your goal, anything is possible…”
It’s amazing whats possible if you just skip life experiences.
…the proliferation of condos and townhouses here gives them a lower-priced product to choose from compared with other cities that are dominated by houses…
Not only a magical city, but also one of the only ones around that has condos and townhouses!
…siblings or friends will buy an apartment together until they’ve built up enough equity to sell and take their proceeds…
Because what could go wrong with that?
…they’ve decided they’re going to buy in, no matter what…
NO MATTER WHAT!!
…buying became an emotional decision about moving to a new life phase. “This was the first step of being an adult,” said Mr. Richard…
Emotional decisions are an important first step of being an adult.
…some young homeowners have become slightly evangelical about the need for others to realize it’s possible if they stop being so clueless about money…
All it takes is a little knowledge.
“They don’t know anyone who owns, they don’t understand money, they just don’t think it’s possible. I keep telling them: “It’s a conspiracy to keep you as renters. Then you can pay someone else’s mortgage.’”
As Many Franks says “Amazing how much paydirt you can pack into a single article.”