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With the price of real estate continuing to rise year over year more than the rate of inflation, will you ever be able to get into the market? Over the last 20+ years, we have gone through several cycles with peaks and troughs. Each correction was followed by an increase which exceeded the previous high. First time buyers need to understand that the first purchase will not be the dream home. Remember when you bought your first car in high school? Expectations need to be realistic and sacrifices need to be made. Saving for the down payment may mean foregoing the daily mocha or lunches out. It may mean getting a used vehicle instead of financing or leasing a new sports car that depreciates and is not tax deductible. It may mean not replacing your...

We have heard reports for many years about the affordability, or rather the lack thereof, of real estate in Greater Vancouver. The latest report from RBC suggests that the typical home is now about 10 times the median family income. This means that if your family income is $60,000, then the typical home would be about $600,000 which is about the GVRD benchmark. Let’s have some fun when factoring mortgage rates and going back in history.