Treasurer Jim Chalmers said ‘there are too many properties empty around Australia’ as tight supply leaves many renters struggling to find somewhere to live.
Canada, our money has about the same value and median house value in Toronto (our most populous city) is CAD1.1M
656k median house price in Canada as a whole.
The condo I used to own is located about 20 minutes from the downtown area of the country’s capital (Ottawa), the whole region has about 1.7m in population, the cottage is about an hour away from there.
What’s funny is that when I was telling my younger colleagues to do like I did and use that as a stepping stone to eventually buy something better, the reaction was always the same, no purchase unless it’s a single family house… And then they watched from their parents’ place/apartment as the market went crazy and they could have made 50k over a couple of years by buying a cheap condo before the pandemic instead of insisting on starting with a house and if that hadn’t happened they could have just paid their mortgage and used that as a savings account instead of paying rent…
Canada, our money has about the same value and median house value in Toronto (our most populous city) is CAD1.1M
656k median house price in Canada as a whole.
The condo I used to own is located about 20 minutes from the downtown area of the country’s capital (Ottawa), the whole region has about 1.7m in population, the cottage is about an hour away from there.
What’s funny is that when I was telling my younger colleagues to do like I did and use that as a stepping stone to eventually buy something better, the reaction was always the same, no purchase unless it’s a single family house… And then they watched from their parents’ place/apartment as the market went crazy and they could have made 50k over a couple of years by buying a cheap condo before the pandemic instead of insisting on starting with a house and if that hadn’t happened they could have just paid their mortgage and used that as a savings account instead of paying rent…