“My Vancouver house is valued around 750k. My other homes are much lower in value, but are outside the city. If you can’t manage your money well, you will always be poor, no matter what your income.” and
“Those who live beyond their means can not afford to buy a home regardless of price. Those who manage their money well will prosper over time. For someone earning a low wage, it can take many years before they can buy a home. The size of the family also effects the ability to buy, but where the fantasy exists, is in your own mind.
I had to buy and sell houses many times over, reinvesting my money, and living very cheaply to get where I am. My children had to go without a lot of things during the early years, but they went to university, and got the things they needed. We saved our money as a family, and we can now enjoy our success. I know that I am not that smart, but I am smart enough to know that I have to save more than I spend to get rich. I still don’t make near 100k per year, but I enjoy my life, and have all that I need. I feel sorry for those who don’t.”
– stopyourwhining in the comments section of ‘Is it time to curb foreign real-estate buying in Vancouver?’, The Province, 14 Nov 2011.