I don’t really know why you’re trying to argue Canadian home prices are soooo bad and then use places like LA or NYC as comparisons. Nobody normal can afford homes in those Canadian cities and nobody normal can afford homes in LA or NYC either, yeah Canada might have slightly higher home ownership prices but LA has a higher cost of living and still very unaffordable housing for anyone not making well into 6 figures a year. You’re not buying a house in LA making 120k a year ever, you would have to live outside the city drive 2 hours one way to work and live like a frugal hermit for 15 years to save up enough for a down payment in LA or any of these cities and then your mortgage payment would price you out anyways
It’s like arguing drowning to death is better than being burned alive or vice versa, the outcome is the same and horrible regardless of which one might be worse. Both Canadian and US cities are extremely unaffordable to own homes in, you would never want to buy a condo in Canoga park or watts or any other of these examples you use
Chinese people buy up all the nice condos out here as well and most of the homes are either bought by rich foreigners or people bought them in 1973 when they were the equivalent of like 5 years of the average salary and much more affordable. LA doesn’t build new homes either
Yeah no dude this is what I’m talking about, you could buy a condo in watts just like I could buy a condo in some shit hole in Toronto but why would you ever do that? So you can get banged on by Mexicans when you walk out your front door?
LA builds homes in like Palmdale and shit but it’s like a 2-3 hour drive away and with traffic gets way worse. It’s fucked out here too dude you’re talking about one of the most expensive places in the entire planet. Only place worse is probably San Francisco or NYC, Boston is up there too
These are not “nice” condos like you say they are, shit probably has roaches in it or something and is across the street from section 8 and you get to hear gunshots every night
Only good thing is prices are dropping right now it was and still is completely unsustainable. I should be able to own a property that is decent to live in with my income if shit drop 25% more then maybe which it might over the next 5 years.
cheapest right now in Toronto is shit like this 220kusd no parking 400usd a month maintenance fees or hoa