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Message: <blockquote data-quote="rickyb" data-source="post: 5242607" data-attributes="member: 56035">my dad was a power engineer and he bought a house as his first purchase.  no one can do that these days.  his house was 130,000, and his income wouldve been 32000 i think.  so he wouldve paid 4x his income for a house which wouldve been 30 minutes from dt vancouver, which was a big city back then.if he did the same thing nowadays, it would be 15x his income.he could move to middle of nowhere frequent murder capital of canada thunder bay and he would pay 3.1x his income for a condo.so this economist michael hudson said the major reason for housing prices rising is simply banks lending more money.  and when you look at ridiculous stats like what i just listed off it makes sense and u realize the system is based on economic garbage.</blockquote>