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9 points

Also depending on where you live that’s way too low. Median home price in California is almost $800k.

https://www.redfin.com/state/California/housing-market

Almost like $500k is a good rough number used to make a point.

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1 point

Hmm. Now I wonder what the average is. Where I live 200k CAD isn’t unusual, but then again you don’t want to live here. On the other hand, a house in Vancouver might be 2 million CAD, from what I hear.

It would be a fine estimate on it’s own, but it was actually used as a comeback to someone else claiming you could use a smaller amount for a downpayment, so I don’t think the indignance that I’m questioning it is justified.

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1 point

For 2 million in Vancouver you’re living in a cardboard box

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@EnglishMobster@kbin.social was making the point that $12k is typically not enough for a down payment on a house. They did some rough math as an example showing that a $500k house would require a $100k deposit if you’re putting 20% down. You nitpicked this number. However $500k for a house is a very reasonable number, so I’m nitpicking your nitpick. I guess we’re all assholes here.

Anyway, USA median house price is $420k. For a 20% deposit you’d need $84k. Canada is worse than the US with an average house price of almost $670k.

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