Remember when housing in Brampton was actually affordable? Nope? That’s because many of us were’t alive when it was.
Housing prices in Brampton are on the rise, and that trend is set to continue well into 2017. Home ownership can seem a bit of a dream for many.
So what better time than this to look at how much houses costed a few decades ago and then cry into our pillow tonight and the unfairness of it all?
Here is a look at a few ads from the 1970s and 80s. It’ll make you want to go back to the good old days.
The cost of houses was only five figures
All you needed was a $990 down payment
One month’s rent today was your down payment for a house 30 years ago.
You could get a condo with mortgage payments at $283
Literally, a mortgage payment was what lots of us currently pay in car insurance every month.
You could get a mansion for today’s regular house prices
a 4,000 sq. ft. home for $493,000? Take me to this magical time!
Just look at all that square footage for next to nothing
Fast forward to today
What will a 5 figure budget get you these days? Maybe a Hasty Market if you’re lucky, but definitely not a fully detached four-bedroom home.
Even with inflation taken into account, housing prices in Brampton today are higher than prices decades ago.
The average price of a house in 2016 was about $530,000. The average price of bungalows in Brampton last year were around $450,000, two-story homes sat around $600,000 and condos at $250,000.
Demand will continue to increase well into 2017, and with supply coming to a slow crawl as Brampton’s supply of vacant land disappears, prices will continue on their upward trajectory.
Can we go back to Brampton’s 1980s housing market, please?
Images: Bramalea Blog