"Buy" or "Rent and invest the savings" - A 15 year long retrospective
1. RE was gonna crash any-moment now and lose 30-70% of its value
2. Renting and investing the savings is for the super smart
3. RE buyers will be underwater and renters will swoop in and pay pennies on the dollar for prime RE
Well, all that has happened in the last decade and a half has been the following:
1. RE is super expensive and unaffordable now. If you bought, bravo to you. You made it.
2. Renting is so expensive now, you are easily paying more for rent alone than if you had just bought anytime prior.
3. Bidding wars on rental suites... everywhere... even in the boonies.
If you had just bought RE, you would be significantly ahead of any renter right now. Not only would you have your own place, you would have paid off a significant amount of your mortgage.
There are approximately 400k immigrants being welcomed into Canada, every year, for the next three years. If you think it's bad now, it would probably get a lot worse.
RE Bears, where are they now?