Derek and his wife have a combined income that would allow them to buy a $500,000 home but a minimum 5% down would require a downpayment of $25,000.
"There's not going to be any free lunch in the Vancouver. There's not going to be any free lunch to own a home in the most Beautiful Place on Earth... so I think people need to be prepared they are just going to have to accept that reality."
"it is just a big challenge... you know... right now you just get resigned to it... it's just... how it is."
This... after a week long orgy of doom and gloom about real estate and the potential for a collapse in housing prices?
More on this later on the weekend.
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