FML Listings

http://www.realtor.ca/PropertyDetails.aspx?PropertyID=11836320&PidKey=455990331

2 bedroom 2 bathroom house in Scarborough for $600,000.00.  Sigh, there’s nowhere left.  

Question:

If we all have 600k to buy houses now, then why weren’t we all buying big 600k mansions 5 years ago when mansions were only 600k?  I guess debt wasn’t at 154% back then… but don’t you all feel like jerks (myself included) knowing you could have spent 600k on a beautiful massive house since you don’t want to be smart with money, but now you have to spend it on a bungalow. 

Not that this is comparable but the average house price in Toronto is now hovering near 700k….the average house price in Montreal is $312,000.00 and the average house price in Fredericton, NB is $159k…  you could buy 5 houses in NB. You could be a tycoon!

So  you need to be making around $144k a year with almost no other debt to now qualify for that Toronto mortgage, and you need $150k down payment
OR
To buy a house in NB you need a $10k down payment and need to make $48k a year.  

In other news, the average house price in February in Vancouver was $823,000.00  and in March it was $730,000.00!!  #ThisIsHappening

I’m gonna throw a huge Crash party if this ever happens (it won’t happen, don’t get excited).

(Thanks to the submitter who sent this in)