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Beyond the typical “No one knows” what are some real risks and benefits to getting into the housing market at this point in time in Ontario - GTA
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Wife started working full time at a job that matches my salary (we both make around 60k) all of a sudden home ownership is seeming more like a real possibility in the GTA.

We live a fairly frugal life. I save pretty aggressively, but what are the odds we are headed to a 2008 level market crash? should we wait to avoid "catching a falling knife" ?

We aren't necessarily looking for a forever home, but we want something that can function as a good investment property. something we can possibly make money off of in the years to come or at least break even on when the time is right to move on to a new city or our actual forever home.

In terms of job security, with both feel like we are in very stable job markets but she talks about wanted to move in a couple years. Is there a very real chance we will get trapped in a house that we can't sell / rent out if we decide to to move away in 2 years? Would it be unwise to buy in the GTA at this time?

edit: When I say GTA I really mean Oshawa and as far East as Northumberland / Peterborough territory.

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1 year ago