Quote:
Originally Posted by someone123
In the 90's and 2000's you never really made much off of real estate in Halifax unless you made some meaningful improvement. People simply viewed houses as places to live, not leveraged investment instruments.
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I'm not sure of the point here. Most people still look at their houses as places to live. If they want to move, they sell their $700,000 home but still have to buy another $700,000+ home, or pay $3000+ per month to rent a small apartment. If they are near end-of-life, then their "riches" get passed to younger generations, who still have to use the money to pay for inflated real estate. Nobody is getting rich here, except the people who are already rich.
That said... 30+ years ago, there were also rich people who could afford to buy homes as investments, and the rest of us who couldn't. That hasn't really changed, except that the price tags have increased.
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