Saskatoon real estate: Week in review (October 8-12 2007)
Saskatoon real estate sellers continued to show their enthusiasm offering 122 single family homes and condos to the market, bringing total active listings to an annual high of 663 units (also higher than any month end in 2006). You could almost hear the buyers yawning as only 48 Saskatoon homes were reported sold, the lowest number for any week in the history of the “Week in review.”
While average overbids were less than half of what they were last week, the average selling price of a Saskatoon home came in at one of its highest levels this year, topped only once before, the week of September 10-14.
Though demand is obviously showing signs of weakening, properties valued well below the average continue to attract substantial attention. Two properties which I listed Friday, one at $214,900, the other at $219,900 had both received acceptable offers by the end of the day on Saturday. One of the two properties attracted approximately 16 showings and seven offers, most of those above the asking price.
Here are the numbers for your review.
See a Google map displaying the boundaries of Saskatoon real estate “areas” here
Data collection and calculation for our statistical reports
I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.
Follow our daily updates on Twitter @SaskatoonHomes.
Norm Fisher
Royal LePage Saskatoon Real Estate
45 comments so far. We'd love to hear your thoughts.
May 27th, 2009 at 2:19 PM
Quiet in here lately,
Strong avg sale price. Were there any big sales to skew the numbers?
663 units!! I wonder how high it will go before January? I think people are trying to get them out there before the snow flies.
Technically speaking, if the avg price stays there for the rest of the month, it will bounce off the 6 month moving avg and bust back through the 3 month moving avg. Time will tell.
May 27th, 2009 at 2:19 PM
Northstar,
can you explain the significance of the moving averages? (Forgive me if you did this already)
Also, any thoughts on the outcome of the forthcoming election?
Does it matter who wins, or is the province in a better situation resource/job/housing wise if a particular party wins?
May 27th, 2009 at 2:19 PM
Northstar,
There weren’t any really big sales last week. In fact, nothing over 500K.
Jedi,
I suspect that the “moving average” is intended to nail the price trend. Note that the weekly averages can fluctuate from the 220′s to the 260′s from one week to the next. Monthly averages can also be misleading from one month to the next, though typically not as much. Mapping the averages over a longer period of time should provide a more reliable idea of the price trend.
May 27th, 2009 at 2:21 PM
Jedi,
The significance of the moving averages is to show a trend in the market. In stocks, it’s pretty much the foundation of technical analysis. Take note of this chart.
http://www.normfisher.ca/images/teamblog/northstarschart.jpg
The moving average represents an area of support to a trend. The smaller the moving average (ex 3 month), the less weight it holds. The bigger (ex 12 month), the more weight it holds. It’s expected that when a correction takes place in an uptrend, it will only go as far as a major moving average. That doesn’t always happen but you’d be suprised how often it does.
As far as the election goes, from what I hear, lots of people aren’t too happy with the NDP. Thus I would expect the Sask Party to win. It sounds like the Sask Party is a little more progressive when it comes to corporate big business. I would expect that would tend to turn the province slightly in the direction of what Alberta’s doing. I won’t comment on the social issues surrounding that but I would imagine long term it would boost housing prices. The easier it is for corporations to exist here the more will show up, thus creating jobs. ( Hopefully good paying ones ). Of course that’s all assuming that the politicans do what they say they’re going to
.
IMO
May 27th, 2009 at 2:22 PM
Here’s a little blurb,
For some of the viewers questioning how there’s no job growth in Saskatoon.
http://www.canada.com/saskatoonstarphoenix/news/business/story.html?id=0bd259af-2d1e-4da1-9695-446cbcafb6f1
May 27th, 2009 at 2:23 PM
Northstar,
We’ll be happy when employment reaches 110%.
An interesting story indeed. It doesn’t get much better than “full employment,” if that is in fact what’s happening. This should bring about a positive impact on earnings.
May 27th, 2009 at 2:23 PM
Hey guys, its been a bit hectic as I just moved into my new house this week. This could very well be the house I live in for the rest of my life and it sure feels good to finally have it.
Average house prices sure have been volatile lately – inventories keep climbing too. Demand as a measure of weekly listings to weekly sales was the lowest I’ve ever seen at 39% this week. Maybe it was because of the long weekend. At any rate, I’m starting to wonder if Saskatoon is going to become like Phoenix with lots of inventory but prices not coming down.
Intersting posts Northstar – so basically you’re saying its unlikely for average price to go below 240 although hitting the one-year average of 210 is plausable.
May 27th, 2009 at 2:25 PM
Doug,
You definately have the jist of what I’m saying. Although as the months go on, the 12 month MA is replacing the $160 – $170 avg prices from Oct – Dec last year with presumably $240 – $260 numbers. So you have to project those lines ahead a few months to the best of your ability. Of course the future is uncertain so you can’t be 100% accurate. I would expect that the 12 month MA would reach around $225k by December. I would say it’s plausable to hit that mark but not lower. I personally don’t expect prices to go much lower than $240k but that’s my opinion.
One more thing,
Congrats on moving in to your new house Doug!!
May 27th, 2009 at 2:25 PM
Hmm, interesting comments Northstar – I don’t play the stockmarket much so its interesting to hear your take on technical analysis.
As an aside, I’ve been finding median prices to be a much more stable tool than average prices. They’re way less volatile because they get rid of extreme values on either end. I notice that median house prices have been holding their value while median condo prices have dropped ($206 from $220 four weeks ago).
May 27th, 2009 at 2:27 PM
Doug,
Congratulations!!
May 27th, 2009 at 2:29 PM
Thanks both Norm and Northstar – definately loving it – exhausting but loving it!
May 27th, 2009 at 2:29 PM
Norm,
Can we expect housing to slow down here? With 900 condo conversions coming onto the market shortly (up 3 times from last year) I would expect buyers will be able to take their time as inventories are significantly increasing.
“Edmonton housing market regaining balance” Increased listings in third quarter returning some clout to buyers, CREA report says; overall Canadian sales activity down 4.1 per cent http://www.theglobeandmail.com/servlet/story/RTGAM.20071016.whomesales1016/EmailBNStory/robNews/home
May 27th, 2009 at 2:29 PM
1st time buyer,
Thanks for the comment.
This is starting to look like a “slow down” to me. Some of it is typical of the season but with only 104 firm sales at the middle of the month, it’s conceivable that October could be the first month in a long while where we actually fall short of last year’s numbers. Having said that, anything could happen in the final two weeks.
Active listings have grown substantially over the past couple of months and I expect we’re seeing the same thing that’s going on further west. People are trying to cash in while the market is high. I think there’s a lot of “revenue property” coming on the market and people are making an effort to thin their real estate portfolio some.
Having said all of that, we are in a market which has typically traded around 3,500 units a year. It doesn’t take a lot of additional demand pressure to get things cooking, as we saw this year. My gut tells me there are still a lot of Albertans who would like to move this way. If those markets get cracking again we’ll probably be just fine.
If we end up with a new government on November 7, I’d say we’re likely in for a wild ride.
Condos? I’ve been saying that they’re topping out for months. The rent to price ratio is way out of whack. If the market is suddenly flooded, much of the pressure will come off of rents. Right now, it seems that you can rent one for half the monthly cost of buying one. Why not rent it for $800 a month and stick the other $800 in a mutual fund?
May 27th, 2009 at 2:31 PM
Thank you for your thoughts Norm. Right now we are renting for about $700 and putting everything we can in to mutual funds. Maybe we’ll sit tight a while longer.
What do you see happening if Mr. Wall gets in?
May 27th, 2009 at 2:32 PM
is it me, or are the high prices creeping into the riversdale area now? Looking at Saskhouses.com all the houses for sale in that general area seem to be asking a lot more than they were even a few months ago. Yes, I know it’s still cheaper than the average Saskatoon home, but it’s also riversdale.
May 27th, 2009 at 2:32 PM
1st time buyer,
“What do you see happening if Mr. Wall gets in?”
I see the major players in oil heading for Saskatchewan.
observer,
Interesting observation. Here’s what’s going on in Riversdale on the MLS side.
Average Average
Month List Price Sell Price Ratio DaysOnMrkt Units Sold
Jan 2007 $67,500 $66,500 98% 8 1
Feb 2007 $77,900 $74,700 95% 16 4
Mar 2007 $78,492 $76,638 97% 62 13
Apr 2007 $88,163 $89,481 01% 33 11
May 2007 $93,871 $94,164 00% 25 14
Jun 2007 $113,183 $114,033 00% 16 12
Jul 2007 $135,120 $131,166 97% 13 5
Aug 2007 $79,633 $74,362 93% 21 3
Sep 2007 $120,810 $114,140 94% 15 10
TOTAL: $98,141 $96,615 98% 28 73
The year to date average is on the bottom line. It’s up from $55,039 at this time last year.
Today, there are 15 active listings in Riversdale and the average asking price is $123,326.
May 27th, 2009 at 2:33 PM
Hmmmm . . . I also think the Alberta Royalty Review will have an impact on Saskatchewan property prices. The higher the new royalties, the more push there will be on Saskatoon prices . . . just my two cents. Conceivably, we could see a situation where Alberta real estate stagnates a bit while Saskatchewan prices continue their rise. With oil now hitting $89 a barrel, we may see more oil players heading to Saskatchewan regardless of who wins the election.
May 27th, 2009 at 2:35 PM
David:
Alberta Royalty is a big issue. Can you explain what is it and how does it effect Saskatoon? As far as know with discussion with people in Suncor and Syncrude, it may not effect AB as oil companies are crying. In this new oil prices, the royalties which the companies are paying is just nuts.
May 27th, 2009 at 2:36 PM
I’m not familiar with the “Alberta Royalty” issue at all. I have learned that a few of my friends who are working in the AB oil industry right now have been laid off. The reasons that they have given me are that their companies have to pay too much to the AB gov’t. Is that what this is about?
May 27th, 2009 at 2:37 PM
1st time buyer,
I believe that’s correct. Governments typically charge so much per barrel to pump the stuff. As I understand it, those “royalties” have been increased from a low of nothing in Alberta to a point where these oil companies feel they’re too high. I think that some negotiations are happening in Saskatchewan to try to get them here.
May 27th, 2009 at 2:37 PM
$285,000+ by May!!!
IMO
P.S. Did a chart on Winnipeg avg house price of this year and laid it on top of Saskatoon’s avg house price in 2006. It looks eerily similar. Could be a good place to buy over the next few months.
May 27th, 2009 at 2:38 PM
Winnipeg can’t be turned on it’s head.
Although I can’t wait to watch people shoot themselves in the foot trying.
May 27th, 2009 at 2:40 PM
Of course not Alex… I mean, look at Saskatoon!! Winnipeg couldn’t possibly get turned on its head. I can’t wait to see people shoot themselves in the foot like they did here either. What were they thinking? only a meager 60% in 1 year. What a buch of idiots!!
All in your humble opinion, right Alex?
I’ll let you know how much money I’ve made there this time next year
May 27th, 2009 at 2:42 PM
I think to outright say +285K by spring is you just trying to get interest back into this dead market Northstar.
There is no chance in hell that we’re going anywhere but back to sustainability. I’ve watched this board for a while and Johny called you out every time you started to push in your buzz words to get people thinking this market will go back up. Then you would get defensive and say “you are only stating your opinion” but clearly you are trying to make your houses worth more by getting more interest among buyers who are priced out.
Your antics and those like you are going to hurt people Northstar, you should be ashamed of yourself.
May 27th, 2009 at 2:43 PM
The slow down in demand right now, due to the following: Time of year, election, more people selling because new houses are ready for possession. Sales will be picking back up, Saskatchewan and Saskatoon has a bright future, and people are going to keep moving here. Our resources are so diversified compared to our neighbors.
I believe demand will pick back up, puching prices up, but not till at least January of next year, and not the kind of gains seen this year.
May 27th, 2009 at 2:44 PM
Wayne,
With due respect, this market will go where it’s going to go. Northstar’s voice will be like a chirp in a concert hall, as will yours, and mine. The idea that markets go to the loudest voice strikes me as a bit of an over simplification. Why must we “shame” those who believe that prices will rise again?
Northstar,
I know that I have not yet chimed in with my prediction but I’m starting to think you’re a dreamer. You certainly aren’t wavering a bit from your prediction.
Last year, at this time, we had fewer than 500 active listings. Inventory levels were dropping on a daily basis and days on the market were shrinking.
Today, we’re at 660 active listings and the trend seems to be increasing levels of inventory and more days on the market.
Things are much different this year.
Though the average will likely bounce back in October (at least that seems to be what the numbers are indicating, month to date) I’ve got to think that we’re in for a bit of a correction between now and spring. People are finally starting to see the stupidity in some categories of Saskatoon real estate. It doesn’t take a genius to understand that you shouldn’t pay $200,000 for a condo which you can rent for $1,000 a month. Things are changing out there. I revisited a property which I evaluated a few months ago around 275K. I’m confident it would have sold had it gone to market then. Today, I’m thinking $259,900 and wondering if there will be a buyer for it.
Remax just released their 2008 Housing Market Outlook predicting 4% growth for Saskatoon over the year. I should mention though that they were also predicting 4% growth in 2007.
Unspoken,
All good points, though it’s worth pointing out that demand was growing as we moved towards the end of the year in 2006. Things were ramping up in a very serious way. That’s not happening this year. This market feels much more like a typical kind of Saskatoon fall. I have a feeling that we will show smoe gains over 2008, though I think they will most likely be closer to the Remax prediction than the Northstar prediction.
May 27th, 2009 at 2:45 PM
Wayne,
“There is no chance in hell that we’re going anywhere but back to sustainability.”
Talk about buzz words. To use your mentor Johnny’s words “Would you care to back that up with some references”. Are you Johnny’s brother?
I’ve stated that it’s my opinion from the beginning so I don’t know why you’re saying what your saying. I’ve also backed up why I feel the way I feel with my own references. I would be very nieve to think that I can jump start a market by posting on a blog. When I think the upside of a market I’m in is what I’m posting on a blog, I’ll sell.
Unspoken Majority,
Your observations sound pretty bang on to me.
May 27th, 2009 at 2:46 PM
Wayne,
Save your breath. They cry bloody murder when you expose their pump and dump agenda… as transparent as it is. It’s sad, it certainly worked for many, but Northstar’s a little late to the party and he’ll be among those holding the bag for our inflation no matter how hard he tries… my guess is he’s secretly getting a little nervous.
On the contrary Northstar, I have no brother. I have a sneaky suspicion, however, that the “Unspoken Majority” is you and your cat.
J.
May 27th, 2009 at 2:48 PM
Norm,
I may be dreaming but when I wake up in May the numbers will tell the truth regardless of direction. My name isn’t Michael Fox and I don’t drive a Delorean. All I can do is trust in my research. In the end Saskatoon is still 20% below the national average.
Have you come up with that prediction page you were going to do?
Johny,
You caught me. I have 4 cats and they all post on here.
I don’t know what you feel you’ve exposed. I don’t know how you go about exposing opinions? As far as being late to the party, I started buying in February so you do the math. I have no room for greed or fear in my investments so nervous I am not. If I had a pump and dump agenda I would have sold long ago. Once again you believe what you want. I know who I am.
May 27th, 2009 at 2:48 PM
Northstar,
No, I haven’t done that. I’m wondering how that would really work. The monthly averages can fluctuate significantly without any real change in prices. For instance, we have $240ish at the end of September. I’ll bet it’s $255 at the end of October, but prices are not actually rising. What about a YTD average at May 31?
May 27th, 2009 at 2:50 PM
Dear Norm:
I think the conversation on your blog. is going to be more and more personal. I feel there should be a balance approach. What is happening with Saskatoon and why the demand declined? Are the people leaving the province? The statistics indicates that inventories are shooting up but for a city like Saskatoon with two hundred thousand people, 650 listings are not so high if there are buying and selling activities. Things start hurting when the house stays in market for 90 days and listing expires.
I think after an exceptionally busy year most of the buyers are waiting for the stability but this does not mean the demand has gone down. Renting the house is quite easy. What will happen in near future? I believe that the future depends on oil prices which is a fuel not only for our vehicles but also for our housing price. If it goes according to forecast of more than $100 per barrel, then Saskatoon market will see again records regardless of AB royalty issues. If fuel goes back to $60, AB and Saskatchewan will be in problem as all the planning is running around oil well. If oil prices put little heat in Calgary and Edmonton real estate market, Saskatoon will heat up automatically. The problem with dependency on oil economy is that things will become very volatile and difference between stability and instability is very minor. A small jerk can take the housing market towards buyer or seller side.
I am surprised nobody has ever noticed about the increasing number of immigrants in town. Actually Saskatchewan Govt. has introduced a new SNIP program for immigrants from other countries. Any person, who has lived in Saskatchewan for a year can call his all real relatives including first cousins from back home. Most of the immigrants left Alberta to Saskatchewan to sponsor their families as Saskatchewan is the only province who is offering this program. This is what I got by talking few of them. I feel that in near future renting will be a great issue as I feel more than fifty thousand persons will land in Saskatchewan next year. I will be happy with increasing number of people from all over the world as it will give Saskatoon a real multicultural city touch and also it will boost the provincial economy by new working force. I request provincial authorities to please consider this issue as they have develop this policy to attract immigrants from other countries to increase province population and for a new landed immigrant it is hard to pay $1000. The detail about SINP can be obtained from Saskatchewan Govt. website. http://www.immigration.gov.sk.ca/
AND at the end, do not consider me if I am working for promotion of any house sales. These are small facts on which I personally believe.
May 27th, 2009 at 2:50 PM
Northstar, how did you teach you cats to type? I have been trying for a while (they are great at guitar hero though!)
Wayne, not sure how long you have been with us but a little while back we started a game of the price is right. It was basically just a way to guess what the price will be at a certain time next year. There aren’t any prizes except for the satisfaction of being the best guesser. I think mine was 292 712 on June 16th, 2008. The ranges of prerdictions were from 230s to just over 300s. Wayne feel free to offer a guess. I think Norm is working on a spreadsheet or something. Cheers
PS. Northstar, are your charts solely about price or do number of sales play a factor as well?
May 27th, 2009 at 2:52 PM
Hi all,
Intrigued by Norm’s comments about the rent to price ratio I did some reading last night and found a couple of good articles. One of them is an older article from the May 2006 issue of Harpers titled the “The New Road to Serdom” and it is almost eerie how closely it predicted what is going on in the United States right now. Here is a link to the read for those interested.
http://www.itulip.com/forums/showthread.php?t=966
Also, in another thread over at a Calgary based real estate forum, posters were talking about the rent to price ratio used in determining market value for a property. The formula many on the blog their references was to take your current rental value, multiplier it by 120x, and it should give you a close approximation to the value of your property. For example, if one was renting a condo for 800 a month, this would put the value of the unit at 96,000. (800 x 120 = 96000) Some questioned that the 120 number was low, and should be higher, but the general consensus was that a property should rarely exceed 150X its rental value unless it is features such as location that make it more desireable. The reason some buyers were expressing concern is that with the current housing prices, the rent to price ratio on some properties in the economically thriving city of Calgary has in some cases hit well over 300X, a far deviation from the average.
While even from my eyes this seems quite oversimplified, it does introduce an interesting baseline. The gist I gathered from reading through the information provided there, was that unless incomes rise to the point where rents are able to be raised to closer match the mortgage payments of said property, then, in short, the property and housing prices in general are overpriced, and are due for a correction. In Saskatoon, I feel that we are seeing a similar situation.
May 27th, 2009 at 2:53 PM
Norm,
That sounds ok to me. Whatever you feel would be the most accurate and fair way of doing it.
Jedi,
My charts so far are only price and not volume. Although you raise an interesting point. Maybe I’ll go back and add some volume bars to the charts as well.
Jason,
Interesting post. I feel multiplying by 120 is a little low as well. Although I wouldn’t mind if that was true. I could cash flow any property on the market. With Calgary getting up to the 300x level, then would it be plausable for Saskatoon to reach 200x?
May 27th, 2009 at 2:54 PM
Northstar’s jabs and shameless self appointed representation of popular opinion gets old. The grandstanding really shows how desperate he is to fuel greed.
Northstar, to be honest, you sound like a bit of a liar.
Whatever, Winnipeg won’t be host to this insanity no matter how much bravado and arrogance you flaunt on a blog.
It’s actually a really big turn off and I’d be well surprised if you show this much stroppy and confrontational disrespect to people in real life. Again, just gives credence to the notion that you’re only on here for attention.
Poor baby.
May 27th, 2009 at 2:54 PM
Alex,
Please tell me what I’ve lied about?
“I’d be well surprised if you show this much stroppy and confrontational disrespect to people in real life.”
Talk about throwing stones from a glass house.
If you feel I disrespect you… Your right!! This is because the language you speak is “disrespect”.
Just remember what you put out in life is what you get back in return.
As far as greed, I know who I am.
May 27th, 2009 at 2:55 PM
Jason,
An absolutely fascinating article. Thanks for sharing it.
I hope everyone will give it a read.
May 27th, 2009 at 2:56 PM
Again, Northstar, everything degrades into a defense war with you until someone catches on. So, here’s your catch on.
Glass houses? Sounds like you’ve got your litany of defensive arguments all lined up.
Suffice to say, for me or others to figure it out is simply a waste of our time. I’m here to talk about the unfairness of the situation and the importance of social values over profit – another subject I think you have a special capitalist disliking towards. Winnipeg is many times more self aware than Saskatoon and you think too little of those with less money to assume that it’s just another snow job waiting to happen. Arrogant and disgusting, you make me sick.
It is you who is coming off this way. It will be you who has to fix it. Thus, figure it out for yourself.
May 27th, 2009 at 2:57 PM
Well for my part, Northstar, I don’t agree with much you have to say but then that is the whole point of this blog. I’m hear to debate housing prices.
Alex, I have to see that at least Northstar will directly address the critiques of his arguments. With you it’s just a change of subject or name calling.
May 27th, 2009 at 2:57 PM
Something,
Lol! Well, I think “what a bunch of idiots” also qualifies as name calling, but you’re right, Alex always manages to take things to a whole new level.
Alex,
I can see the veins popping out of your forehead from here. Relax man! Why are you getting so worked up over someone you’ve never even met. I have met him, by the way. He strikes me as a very pleasant young guy. I doubt he eats babies for breakfast or anything like that.
Northstar,
I appreciate your willingness to take some flack from Alex. Better you than me.
I hope to post this week’s review tomorrow. There are some interesting stats for your review.
May 27th, 2009 at 2:58 PM
Alex,
“Arrogant and disgusting, you make me sick.”
No chance of disrespect there. Naw, you don’t do that.
Still haven’t heard what I’ve lied about?
Something,
I appreciate your comments. I understand that different people have different opinions. I know we don’t share the same views, however I respect your thoughts. Even though you disagree with what I’m saying, I can’t ever remember you disrespecting. In turn I haven’t disrespected you. ( To my knowledge )
Norm,
My “bunch of idiots” comment was a sarcastic one in reference to the people who invested here last year. It wasn’t a direct name call. Defiantely an indirect poking. Although when it comes to Alex I can’t say I’ve never name called.
I look forward to the stats
May 27th, 2009 at 2:58 PM
Can anyone smell F-O-R-E-C-L-O-S-U-R-E-S and a recession comin round the bend?
Just given you guys a heads up,thats all.
If you can’t then think again.
Sell now!
Kind regards,D.G.T.
May 27th, 2009 at 2:58 PM
Northstar,
Sorry, I think that clicked on the first read but somehow got misunderstood on my review of the discussion.
May 27th, 2009 at 3:00 PM
So the way I see it is there is two camp; the doom and gloom camp that wants the market to crash so that they can get in; and then the overly optimistic that wants the market to continue at an unrealistic rate so that they can get even better return on the holdings they have. Fortunately the real world will probably end up somewhere in the middle.
DGT just wanted to remind you are not in the US.
The opinions I read here, all have some facts to support their case and some self interest. Whether or not I decide to buy another unit in Saskatoon, I will make that decision on my own interruption of the market and collect if I’m right and lose a little if I’m wrong. My money, my call. What I read here s only food for thought.
For instance I am current have built 6 condo units in Winnipeg. If i get a return of the historic average increase of 15 to 20% for he last couple years I’m making money on a 1 or two year build. If the market goes nuts in Winnipeg, I make More Money either way I’m happy. The key is not to count on magnitude of the up side and minimize the down side. It’s all good. I always may more that enough money and I don’t have to stress out over it. So be calm unless you live in Winsor or the States it is unlikely you’ll see a higher than normal number of foreclosures. Don’t be miss led propaganda based in self interest. Live long and prosper.
May 27th, 2009 at 3:01 PM
“My money, my call.”
And so long as it always ends up being about money, those who don’t have as much of it as you will always be screwed of the option to choose.
It is not secret that it is easy to make money – if that is all you want to do. It is also no secret that something like investing in properties is something done with a decent amount of money on the side.
When some people are concerned more with living their life outside of a frantic fixation on home investment, how do they get an opportunity?
With investment going the way it does, I see home ownership more as a major league sport than a “freedom”. There will always be someone out there with more money than me, and this has never been a problem to date.
The exclusivity it grants them in this situation however I find a little daunting and unfair.