OTTAWA – Due to turbulent international markets, as well as a condo market in free fall, real estate prices across Canada have dropped to where they were in 2018 when it was already completely impossible to purchase a home.
“For young Canadians looking to get onto the property ladder, there hasn’t been a better time since 2018 to not be able to afford to do so,” explains Michael Chamberson, of the Mortgage Strong property investment group. “Back during the Trudeau years, the idea of buying a starter home without substantial family wealth was already completely out of reach, and those times are here again!”
Across the nation, Canadians are reflecting on how they’ll approach this new period of still-unaffordability.
“My partner and I can’t wait to start hunting house listings again, then realizing we’ve been priced out of everything in our city, and then buying a new Nintendo Switch instead” says Alice Beltramn, of Vancouver.
“But the condo developers are still getting bailed out, right? Oh thank God,” reports Hamid Welsham of Calgary.
“During 2018 I still had my job at the GM plant, so I wish I was at those levels of unaffordability,” says Jeff Wexler of Oshawa, ON.
“The dream house I couldn’t afford in 2018 has probably become more dilapidated by now, but maybe I can still fantasize about renting it from a massive private equity firm like Blackstone one day,” adds Marsha Koburg of Halifax.
In a related story, don’t even fucking think about trying to buy a used car.
