[turbinerneiter]

Surviving isn't the issue, I'm doing fine. Affording a house is. Reaching the standard my parents had.

[Auracle]

Good luck with that. My parents purchased 60 acres of beautiful land and built a very nice house on it. My dad was a construction worker and my mom was a part time school bus driver/eventually USPS worker.

My wife and I both have degrees. There's no way we could ever afford their place. The population has increased too much and space - even in rural areas - is finite.

[refurb]

My parents did the same.

Of course when they bought it was a podunk town and they bought on the edge of city limits.

Now it’s a city of 2M and their property is regarded as central.

Of course I couldn’t afford it.

But I could certainly buy on the edge of some podunk town today.

[MichaelZuo]

It is weird how the vast majority of commenters on HN ignore any adjustments for changes in quality in housing discussions.

Housing prices seem pretty inline with population growth after adjusting for location and building quality differences.

[refurb]

With rising rates expect housing to fall.

Canada had a massive run up and with increasing rate the ‘burbs of Toronto are down 25% in the last two months.

Unless you have a crystal ball, I wouldn’t count on the current trend continuing.

[marvin]

> with increasing rate the ‘burbs of Toronto are down 25% in the last two months

Are you saying that real estate prices in Toronto suburbs have fallen by 25% in two months? That's incredibly quick; generally real estate crashes take a couple of years to play out and bottom out at a ~40% decline.

[refurb]

Yes, median sales price is down 25-30% since rates started going up.

That said, those same places were up 50-100% during Covid. But the latest drop bring them back to pre-Covid levels.

However, rates just went up 100 bps today and will likely go up by another 100 bps by year end.

Canada is looking at a major correction, but that said, the median price in Canada is 2x the US, so there is plenty of room to fall.