3. Housing correction is going to be worse than we feared, say economists

Housing correction is going to be worse than we feared, say economists

Very well put. I'm an older millenial with one foot in the door and one foot outside so to speak. Got into real estate and then ran into a messy little divorce. I thought I'd just go scoop up a house or two once I settled my finances (much more strict this time around) but the door was shut.

At the start of the pandemic I was tying up some loose ends with one eye on a few properties. Watched prices on reddit start jumping up all over the country so I started to hustle a bit faster. The prices started sharply increasing but it's a great thing I had a promotion coming up. WHOOPS! Not fast enough!!

Well, no worries, I'm switching departments and I've got something even BETTER lined up. Fooled me twice! Prices are not soaring into the stratosphere. Decided to pull out once I saw how crazy things were getting (not that I could afford anything anymore) but it sure was a wild ride. Now I'm lumped in with the younger millenials who never even had a chance as they watched their dreams of home ownership fizzle away.

Very emotionally disruptive having "been there" with a big beautiful home, kids running around bare footed and bare assed in a huge backyard, now in a basement suite with kids screaming and crying 24/7. The landlords daughter introduced me and my wife as "the people that live in her basement". She's only 4 years old but I wanted to smack her and hug her at the same time - poor innocent, affluent little shit. She has no idea the mess she will be inhereting. I pray we fix this shit so our kids don't suffer.

/r/canada Thread Parent Link - financialpost.com
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