Just over half of Canadians say they are $200 away or less from not being able to pay all of their bills at the end of the month amid higher interest rates and inflation.

  • apprehensively_human@lemmy.ca
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    1 year ago

    The only reason I could afford the 5% down payment for the place I just bought was because I lucked into buying a cheap foreclosure years ago and sharing the down payment and title with a roommate. When we sold last year the amount we made back in equity was enough to put towards a cheap little old house of my own while still holding on to some for long term savings.

    Without that equity I would be stuck renting for the rest of my life.

    • dexx4d@lemmy.ca
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      1 year ago

      We did the same - bought a foreclosure at auction about a decade ago at the max we could afford, about $325k.

      Now it’s a $1.2 million property. We could subdivide and pay off our mortgage entirely, if we needed to.