Ultraman

Some people including realtors say the house price keep increasing abnormally because of the up coming winter Olympics. Price should/would drop down to normal eventually. Since house price is like a seasonal up and down, I definitely won't consider a move all because of this. How if you move to Seattle and the house price goes up later but on the other hand house price goes down in Vancouver?! You move again and again? If you can't afford to buy a house (or a "home") here for the time being, I don't see renting is not an option lor!

Ultraman

Most first home buyers tends to be very picky to purchase their first homes. However, it's always wiser to buy the first home in a reasonable satisfaction instead of an ideal one. If you can't afford a big and more expensive home for the moment but you still want to buy one, go for a smaller and cheaper one in less expensive areas. It's not difficult at all for a stable working couple to pay for monthly mortgage, yet the much more amount of the down payment is usually harder. Moreover, gotta consider if one of the couples may get layoff or wants to change job later on, would the other couple plus the saving enough to support for a reasonable period of time. I heard of a reference of the amount of the mortgage/rental should be about 1/3 of the total family income.

Ultraman

原帖由 shutterbug 於 2008-5-16 13:16 發表

Have you read this?

http://www.canada.com/vancouvers ... 2-8797-1ce759871cf1

"Detached houses were the least affordable option on the RBC index. The avera ...

How if the house price keep raising a lot more than your salary, would you pay 8/10 of your total income for the mortgage? Doctors say people need at least 8 cups of water everyday, but if you're not able to do it doesn't mean it's not necessary. Same as, of course you can put more than 1/3 or 1/2 of your total income for the mortgage, but it's just too risky to secure your living lor. Neglecting how much the house price is, if you can't afford it you can't afford it. I think for most Chinese people still have a very tradintional mind who want to buy their own house, own car, ....etc., but that might not be the smartest way for all people geh.

Ultraman

utopia, "he has absolute no family support"??! Hmm... couldn't he really do something ar?