So in a few months I’ll be moving to Canada. And renting. For a long time. Possibly until I’m 40. And I’m not ashamed of it.
Given that so many people consider owning a house a measure of their identity and worth, why am I not interested in buying one?
Basically I think Canada’s real estate market is in a bubble and I don’t know how long I’ll be in Canada (at least five years, but past that, who knows) nor do I know when the market will burst. So, I won’t be buying.
Now, here’s a whimsical reason why I think it’s a bubble. And here’s the graph (plus explanation) that underlines the whimsy:
Two caveats: if the bubble bursts or I strike it rich I might buy a house. Otherwise, you’ll find me in my condo…