BeaverFever BeaverFever:
You just don't understand what I'm saying and we are talking about 2 different things. I'm not disagreeing with you that a responsible person should buy the $1 banana instead of the $100 apple. Of course people need to live within their means and limit their expectations to what they can afford. Im tired of repeating that. .
What im telling you is open your eyes to the fact that in Toronto the apple doesn't have to cost $100 in the first place. Will it be the same price as the burbs? No. Does that mean we should just accept over inflated prices from speculative trading that exploita a market bubble? Also no.
Sometimes you have to question why things are the way they are Instead of just moral lessons on how to cope and accept unfair conditions
It's a matter of supply and demand.
In Toronto (and many other major cities) you have plenty of people chasing a smaller number of properties and prices rise because of this.
In Detroit you have plenty of property with a far smaller number of potential buyers and prices continue to fall.
Notice how there are very few speculators in the Detroit market? Maybe you should consider looking for an affordable home in Detroit instead of insisting that government use its power to manipulate the real estate market to suit your desires.