Let me know where you live and what people are paying for real estate. In Toronto, it’s ridiculously expensive. Million dollar mortgages are VERY common.
Looking at real estate prices in the U.S. and Canada, we can see that is has become literally unaffordable to the majority of people. The so-called middle class is vanishing as inflation silently wipes away hard earned savings and makes common needs much more expensive. As central banks increase interest rates, this will only get much worse.
Fannie, Freddie will stop backing single-family rentals – MarketWatch
Mortgage rates hit a four-month low as housing market stagnates – MarketWatch
2573 W 3rd Avenue, Vancouver, BC, Land/Lot For Sale | REW
3-storey home goes up in flames in Kitsilano – BC | Globalnews.ca
Metro Vancouver real estate prices are 65% overvalued: Economist
People used to move to the suburbs to save money. Now, nearly every corner of Toronto has downtown rent | The Star