In the early 90s, I bought an entire house in Prince Rupert for $50,000.00 and a Firefly for $10,000.00 iirc. The house was in bad shape when I bought it, but before we got it fixed up, we split up and I sold it for the same $50,000.00 - so at least I didn't lose money on it.
I bought my current place in Surrey (a two-bedroom or one-bedroom/den) for under $200,000.00 in 2010. A unit with the same floorplan in this complex just sold for $500,000.00. I took some money out of my equity for renos, but if the prices hold then I'll have money to retire to Salmon Arm in a couple of years. Even if the market drops precipitously, I'm very unlikely to ever be underwater on this mortgage and would be able to stay even after I retire if it's cheaper than moving to Salmon Arm. Feeling blessed because I know not everyone is as fortunate.
(A Firefly was a small, fuel efficient car, in case anyone is wondering. We and my +6' guy went tent camping in it one year in Northern BC. Carried us and all our gear on gravel roads. It did fine, great little car).
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