Montreal Is Making It Impossible For You To Ever Buy A House
At this rate you'll be renting for the rest of your life.
It's safe to say that most of us don't expect to be renting out an apartment our entire lives. You envision buying a place of your own someday, escaping the rat race of renting, and finally being able to truly call a place "home".
Well, if you imagined you'd be able to do all of this in Montreal, you're really out of luck.
It turns out that house prices have just risen in the city for the fourth consecutive month. Overall, the sale price for residential properties in Montreal has risen SEVENTEEN times in the last 19 months. So realistically the city is making it almost impossible for you to ever get your dream home.
News about the price increase comes from the National Bank House Price Index, which was up 1.28 per cent from June to July of this year. Compared to July 2017, that's an increase of 4.01 per cent. You might as well send your landlord rent for the next few years now, because it looks like Montreal doesn't want you buying a house anytime soon.
And if you thought that wasn't too bad, since 2005 the house prices in the area have risen 71.41 per cent. What is this madness?!
On the bright side, at least rent in Montreal will never be as awful as that in Toronto or Vancouver. So maybe we did come out on the lucky end.