An article on a frugal fellow in Toronto.

[pooablo]

I really enjoy seeing articles like this in the mainstream media.

http://business.financialpost.com/2014/ ... in-canada/

[lilacorchid]

Woo to him!

OTOH, I did not get a newspaper article when we paid off our mortgage at 31. My story isn't as flashy though.

[George the original one]

It looks like he took a reasonable business gamble: have someone else pay the mortgage for you while you also get some benefits of the house.

[jennypenny]

I like that the guy didn't have a long sob story. I know many people do, and I'm sympathetic, but usually rags-to-riches is the only kind of story they will publish. I like that he did it right from the beginning.

There was a link to another story that was also pretty good. http://business.financialpost.com/2013/ ... of-age-35/

@lilacorchid--You should write your own story and submit it to the author of that story!

[pooablo]

Are they justifing high prices by saying its doable? Or that its ok to get a mortgage at 4x gross income? This article screams "getting frothy" to me.

Hey Toska! The real estate prices in Toronto (and other parts of Canada) are crazy. The cap rates are 2.5% or less for single-detached homes here. I can't believe how far removed housing prices are from current rent rates and household incomes.

I think a combination of low interest rates, low housing supply, and the CMHC (Canada's equivalent of Freddie Mac and Fannie Mae) are leading to such unrealistic prices.

I wish the real estate would correct itself here.

[djc]

Great story.

The main reason I check in every now and then after all these years is to find these links.

djc