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Old 1st June 2017, 02:42 PM   #11
Cal Weldon is offline Cal Weldon  Canada
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Yes, even within countries.
The million dollar unit here sells for $200,000 a couple provinces over.
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Old 1st June 2017, 04:19 PM   #12
scott wurcer is offline scott wurcer  United States
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The million dollar unit here sells for $200,000 a couple provinces over.
We get the "The Property Brothers" IIRC they are local to you and the prices are almost as bad as here.
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Old 1st June 2017, 04:35 PM   #13
DPH is online now DPH  United States
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I'm doing the "live at home with the parents until I can save enough for a down payment" strategy. And then expect roommates for a long_time (with the ultimate hope of a permanent roommate some time down the line).

That's what we're talking about, right?

Frankly it's not enough, but at least maxing out your Roth (for us Yanks) each year puts you better than 80-ish% of working adults. (IIRC)
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Old 1st June 2017, 04:36 PM   #14
leadbelly is online now leadbelly  Canada
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Actually, for your example of $1,000 to $10,000, I would say you shouldn't invest in anything other than a savings instrument. I've learned a lot over the years watching my RRSP grow (401k for you guys) and have a financial advisor manage it. You need a large enough portfolio to be let into the "club" where you're not being ripped off by hidden fees and other things like currency exchange.
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Old 1st June 2017, 05:00 PM   #15
Cal Weldon is offline Cal Weldon  Canada
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Currency exchange has been good to me.
So has a diversified portfolio.
So has waiting until I was mortgage free before having fun.
So has carrying no credit card debt.
So has disciplined spending.

Going without when you are young pays off in the long run.
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Old 1st June 2017, 05:05 PM   #16
scott wurcer is offline scott wurcer  United States
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So has waiting until I was mortgage free before having fun.
Nothing wrong with having fun before the mortgage. My first boss told me you will work for 7 yr. and wake up one day and realize you have saved nothing, a change will take place virtually overnight. He was right almost to the month. I did have one advantage, my father believed in no debt of any kind ever.
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Old 1st June 2017, 09:15 PM   #17
Cal Weldon is offline Cal Weldon  Canada
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I did have one advantage, my father believed in no debt of any kind ever.
Yes mine as well. He even went so far as to not ever have a mortgage. I'm guessing that was easier easier when your first house, right in the city, cost a little over two years salary. He was making $5,500 a year and the house was $13,000.

Now where's a time machine when you need it?
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Old 1st June 2017, 09:51 PM   #18
scottjoplin is offline scottjoplin  Wales
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What's great now in Britain is that people can't afford rent let alone a mortgage, and what's more the cause is going to get voted in again, tis the Anglo Saxon way and you North Americans have got the same disease
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Old 1st June 2017, 09:59 PM   #19
JMFahey is offline JMFahey  Argentina
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Speculation made real estate take *ridiculous* prices; my current house cost U$19000 in 1983, inflation adjustment means U$47000 today ... but actual market value is around U$450000 ... wtf?

I could pay it cash in 1983 after saving 4 or 5 years homebuilding guitar amps, today I wouldn´t even be able to pay interest, let alone capital, if I had to buy it on credit.
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Old 3rd June 2017, 04:36 AM   #20
scott wurcer is offline scott wurcer  United States
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Yes mine as well. He even went so far as to not ever have a mortgage.
Me too, we grew up in his mother's house $8000 in 1923 paid off long before I was born. My 93 yr. old mother still lives there.
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