Quote:
Originally Posted by scryer
Exactly. There was more than one road to Rome.
However a region should be liveable enough for anyone working a decent full time job (35k+) to be able to afford a place, nevermind the rent. It's clearly an un-reachable fleeting dream if you live in a region working a decent full-time job and need to depend on others to financially support your move into a decent living place. Part of this is because the living expenses (read: rent) in Metro Vancouver are already astronomical and a lot of these jobs that were worked by regular tax paying citizens disappeared with the pandemic. The jobs that pay out 80k+ are few and far between and those are really the only folks that are able to afford to buy in the region.
Therefore the sudden surge in home purchases across the board just don't make no sense at all and I don't believe in coincidences when it comes to the RE industry. I simply cannot be convinced that the majority of people who make under 80k+ a year were sitting on a pile of cash - or that their relatives were sitting on a pile of cash waiting to dole it this summer of all times.
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I wouldn't put too much weight in just one month of real estate stats. A month is meaningless in real estate.