"If she were to sell now, the price she would get would cover the remaining balance on their mortgage, resulting in zero equity gained. Once she factors in strata fees paid, she figures they would have been better off renting."

“I was at a party on the weekend, a house-warming one in fact. One of the guests told me about how she lives in a ground floor apartment with no yard in Pitt Meadows. She has 2 kids, and she’s glad they’re both girls so they can share one of the apartment’s 2 bedrooms. She would love to live in a house with a yard. But she knows that they can’t afford it. She also told me that if she were to sell now, the price she would get would cover the remaining balance on their mortgage, resulting in zero equity gained. Once she factors in strata fees paid, she figures they would have been better off renting.”
- chibidani at VREAA 1 Aug 2012 2:14pm