I am curious as I just entered my 30s, and I am really worried about parking my long term investments/exposure in Canada given the demographic shift, low productivity, and potential brain drain. I see the macro economic climate of Canada being really grey over the next 20 years and our politicians are not helping. An economy is strong when it runs on the middle class, not the 1% and once sector – real estate.

Is it me or is it a little crazy that an average house is over $1.5 million in Toronto? I am not looking to rant but I just came to the realization that the world has gone bonkers.

When I was a teenager 15 years ago, I used to work at a convenience store. On my breaks and when I was bored, I would sift through magazines where they it would talk about which celebrity cheated on who, and who bought a $3.2 million mansion in LA. I remember Britney Spears had bought a $2.5 million castle looking home with a huge pool in the front yard and on an estate gated lot full of trees. A million dollars was a big deal at that time as I got paid $7.75 per hour.

Fast forward to now, it’s crazy to think that everyday looking homes are going for $2M to $3M in GTA – essentially what used to be “celebrity prices” and prices reserved for the rich and famous.

With all this going on, my question is to the 20-somethings of PFC. You must all feel really discouraged with what’s going on. What is your plan? Have you given up on homeownership or is it not a priority for you anymore? How to plan to climb the socioeconomic ladder when the best vehicle (historically housing) his no longer an option?