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RE: Real Estate VS The Stock Market In Economic Uncertainty - Marco Santarelli Interview
I bought a house for $565,000 In Canada 4 years ago. Put 35K into the basement developing it into a private suite, paid $5,000 a year in property taxes, $3000 a year in insurance and on and on and on. Now I am lucky if I can sell it for 20,000 less than what I paid for it.
Buying a house was the worst investment in my life
Yeah, it is far from a sure thing, and the barrier to entry is huge. I can invest $2,000 and have a pretty stable return on diversified investments with a low expense ratio. For a house? You'd have to go to the middle of nowhere to get something for less than $100,000.
doesn't exist where I live. A basic entry home is $400,000. $550,000 is a basic two story. You need at least $75,000 for a down payment and legal fees. They have made it impossible to manage. The only thing I could do was rent the upstairs out and move into the basement suite. Even then it is costing $1600 a month to live in a basement that is only partially finished and has no windows . A self made prison.