Looking at Past House Values – Episode #69
How would have this impacted your life today?
In 1986 – 25 years ago – The average price in Toronto was $138,000. In 2011 – The average price in Toronto was $460,000. That’s an increase of $322,000!!! Or 233% Increase in 25 years OR 4.95% per year approximately.
Someone had to pay that mortgage right? IF YOU RENTED IT OUT…the tenants would have paid for that mortgage. Today, your parents would have had a $460,000 property – FREE AND CLEAR of any mortgage.
SO AGAIN I ASK YOU…what if your parents bought 1 more property 25 years ago? How would have this impacted your life today? If you see value in this…then I ask you one more question:
If you buy 1 more property today at $460,000…How will this impact your family in 25 years from now?