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Rant: I watched a house in my old Ottawa neighborhood sell for double in under five years
I grew up in a normal street in Nepean. A house three doors down from my parents sold in 2019 for $480,000. It was a solid three-bedroom, nothing fancy. The family that bought it did some work, like a new kitchen and bathroom, but nothing huge. I drove by last month and saw the sold sign. My mom told me it went for $925,000. That's in less than five years. The work they did might have added $50k in value, max. The rest is just the market going nuts. It hit me that the people who bought it in 2019 basically won a lottery just by being able to get in then. Now, a young couple starting out has no shot at that street. What's a fair price for a starter home anymore if a basic house can do that?
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wendy_carr5d ago
My cousin in Barrhaven saw the same thing. Her townhouse went from 420 to 780 since 2020. The math just doesn't work for new buyers anymore, it feels like a different game.
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black.wesley5d ago
Used to believe people were just complaining, but numbers like that are impossible to ignore. Watching a place nearly double in a few years rewires your whole idea of normal. It really does feel like the rules got changed halfway through, and new players are stuck with a much worse deal. Hard to see how regular incomes catch up to that kind of jump.
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