Home ownership vs renting

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i can see my posting style is becoming a pp heh

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I was a two time home owner before moving to Calgary. Never lived in a city, didn't think I would stay, was pretty nomadic anyways...so committed to renting for a few years. 2014 rolls around and I say fuck it, time to plant some roots. Mortgage brokers couldn't get me a mortgage (no T4 income, and I guess lenders weren't budging on that?). So I restructure my 2015 income to be salary, incur a massive tax debt, and then lose all my work in the wonderful oil collapse of 2015. Shit loads of bad luck sprinkled on top of some bad decisions. No bueno. Since oil field work was effectively dead for two years, I had to pivot. Took me 3 more years to regain my footing in a totally new market. New company, new clients, new work. "Back on my feet" and ready to buy at the end of 2022.

And then the Real Estate explosion happens in Calgary.

So now the houses I want to buy are selling for double what they did 10 years ago. Which means I have to double my personal income to get approved to buy it.

Right now my rent is well below market so I feel no pressure there. But I cant realistically expect housing prices to ever go down. So every month that goes by, the house I buy gets a little smaller and a little less desirable. And one day that house will turn into a townhouse. And then a condo. Which makes me feel a little desperate to buy the first thing I see.

I really should have bought a house when I first moved to Calgary.

[SilverRex]

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That moment when you tell your kid that Big Mac used to be $3.49, not $34.99

I use to recall Cheese burgers were 75 cents. And over the years the size of Big Mac would ever so slightly shrink

[roopi]

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https://www.thestar.com/business/pan...342a2b3b6.html

It’s happening out west as well just not as drastic (yet).

Double wide trailer with a deck is considered a cottage?

[Darkane]

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Wait until the neighbor's leaves blow over to their vacation property while their kids drink pop, that's when it'll really go off the rails.

Haha. The leaves jab is awesome.

[max_boost]

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So now the houses I want to buy are selling for double what they did 10 years ago. Which means I have to double my personal income to get approved to buy it.

Right now my rent is well below market so I feel no pressure there. But I cant realistically expect housing prices to ever go down. So every month that goes by, the house I buy gets a little smaller and a little less desirable. And one day that house will turn into a townhouse. And then a condo. Which makes me feel a little desperate to buy the first thing I see.

I really should have bought a house when I first moved to Calgary.

find someone to pay the other half?
if cheap rent and you good, then saul good man
most of us just benefit from timing, we don't really know
my gf is moving into my little 2br condo, simple dink life should be lots of money saved but we shall see

[CompletelyNumb]

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my gf is moving into my little 2br condo, simple dink life should be lots of money saved but we shall see

1st St Market girl?

[ExtraSlow]

I liked that girl.

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Indeed

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Yeah that's a firm handshake from me.