“I have friends in Alberta and Ontario. $200,000 is considered a lot of debt there. Here, $500,000 is nothing.”

This from metalhead at RE Talks 4 Feb 2010 8:23 am –

“I have friends in Alberta and Ontario. $200,000 is considered a lot of debt there. Here, 1/2 a million is nothing. My brother in law recently bought a new place in Surrey. He had $350K to put down. He paid $800K and has already spent $100K+ on it. No big deal by BC standards. Our mutual friends in Alberta wonder if he is insane. He’s told them it will probably be worth $1.1M to $1.2M in a year. I just smile and say of course it will.“