If you can rent a $6m mansion for $5,000 per month, you're getting a steal. In that case (and especially since this tax policy is pushing prices down further) it makes zero sense to buy.
I'm still not sure I made the right decision turning them down. On the one hand spending $5000 per month on rent feels crazy in Vancouver. On the other hand it is an incredible deal.
In the end what kept me from renting it is the likelihood of needing to move in a year or so. I prefer a bit more stability for my kids.
In the end what kept me from renting it is the likelihood of needing to move in a year or so. I prefer a bit more stability for my kids.