Originally Posted by SDR76
I live in an old little house, and cannot bring myself to part with that much money for a McMansion.
See, the problem here is that old tiny house, that is barely livable is $279,000. McMansion's start at $500,000. I live in a rural town of 15,000 people. If i move to a town 20 minutes away, with 3000 people, I might saved $50,000 for that shitty old beat up house. They call it a housing crisis here. They recently instituted a 15% tax for foreigners buying property in Vancouver, and another large penalty for houses sitting empty, as a lot of foreign property investors have driven prices so incredibly high. Income has barely moved in 20 years, but housing has gone up 1000% in some cases. The girlfriend and I make 70k+ a year, the bank tells my I can buy a house that is 40% of my income, being I have no debt. I just refuse to pay $2000 a month for a reasonable place to live. 40% of my income is not reasonable. Right now I live in a basement suite that hasn't had a rent increase in 3 years, ~$1000 a month, if I move to a tiny studio, my rent won't even change.