Sunday, June 17, 2007

Real estate prices

It just seems to me that real estate is going up all over the place. The average price for a detached house here where I am, in Southern Ontario is about $250,000. Out west in my hometown on Vancouver Island the average is about $320,000. I watch a lot of those shows on HGTV where people are either house hunting or trying to sell their house (and the decorating shows too!) and there never seems to be house either for sale or for purchase under $350,000., with many much higher. This really makes me wonder how the younger generation of today will ever be able to afford to buy into the real estate game. Those first time home buyers will have huge debt that I couldn't even begin to imagine signing my name to. Every now and then I randomly check the real estate prices in other places, particularly in the USA to see if their prices are as inflated as ours. The other day I was checking out Beaufort NC real estate, and I was pleased to see that you can still buy a brand new home there for under $200,000. A price like that for a new home around here is just unheard of these days, although about five years ago it was the norm. I'm glad I don't have to worry about house hunting these days. I'll just stay where I am and let my humble home turn to gold!


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