A home has for years been promoted as an asset. This is simply not true if you live in it and not let it to tenants. It’s a liability. As you always need a home to live in it’s not an investment in the true sense. It costs to live in it and maintain it. The rising cost of property has been based on the idea that it’s an investment and you can’t go wrong. Watch this space!
We live in a townhouse on Burnaby Mountain, Canada surrounded by other townhouses. We bought our house when we were 50. Before that we lived in Co-op Housing. Now we are 72 and many of the homes around us are being bought up by young families. I am not sure how they afford it, but here they are . It is delightful to be surrounded by all the energy and childrens voices.
It will be interesting to follow this spring and summer season. I live in a rapidly suburbanizing area and the home prices are so much higher than they would have been a few years ago. Currently, the half dozen homes for sale on my commute have been sitting for a month or more.
A home has for years been promoted as an asset. This is simply not true if you live in it and not let it to tenants. It’s a liability. As you always need a home to live in it’s not an investment in the true sense. It costs to live in it and maintain it. The rising cost of property has been based on the idea that it’s an investment and you can’t go wrong. Watch this space!
We live in a townhouse on Burnaby Mountain, Canada surrounded by other townhouses. We bought our house when we were 50. Before that we lived in Co-op Housing. Now we are 72 and many of the homes around us are being bought up by young families. I am not sure how they afford it, but here they are . It is delightful to be surrounded by all the energy and childrens voices.
It will be interesting to follow this spring and summer season. I live in a rapidly suburbanizing area and the home prices are so much higher than they would have been a few years ago. Currently, the half dozen homes for sale on my commute have been sitting for a month or more.
I can’t see how house prices can continue to rise.
Most of the increase seen in the last 20 years are down to two main drivers.
Interest rates dropping to all time lows.
Women entering the workplace in numbers resulting in households with two incomes.
The first of these drivers has now reversed.
The second will only drive the market so far.