Posted Jan 28, 2023, 6:28 PM
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Great White Norf
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Join Date: Nov 2003
Location: Niagara Region
Posts: 10,980
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Quote:
Originally Posted by Steely Dan
In my parents case, they bought a $27,000 house in 1976 with 20% down and a 9.0% interest rate on a 30 year, that made for a monthly mortgage payment of $174/month. That translates to $853/month in today's dollars
These days, you ain't coming close to buying a house in Wilmette with a $853/month payment on a 20% down 30 year loan, even at the stupid low rates a couple years ago. You couldn't even buy a vacant plot of land there for that cost.
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To rent a 1 bedroom in the most populated parts of Canada (southern Ontario) is like $1600-2000CAD/month or $1200-$1500 USD!
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