If the price of living in London (either renting or buying) didn't make you balk at the cost think again! Its been very interesting seeing how people get buy over here. The average family rental here in London costs well over £1000.00 a month. Its actually a better deal to buy your own home and pay a mortgage - but who can afford the down payment on million pound homes? Especially in a injured economy where banks are not easily lending and people have no means to save?

More daunting though is the thought that we will be moving back to Canada (hopefully Vancouver) shortly in the next few months ahead, and Vancouver I guess we could say, is almost worse in a different way when it comes to housing costs. This is because the ratio of rent to owing is much farther apart in Vancouver and the quantity of jobs that earn more is a lot lower (unless you work in the public sector of course - not that those jobs really help pay for overpriced houses anyway).

I would love to come home and purchase a house. It doesn't need to be an actual house either. A townhouse or a swanky 2 bedroom apartment to start would be just fine. However I think the reality of this dream is going down the tube unless we are willing to purchase something outside of the city. A prospect that isn't exactly appealing to us since we are likely to be working in Vancouver and hate commuting.

Rethinking about buying something in Vancouver and don't know if you should keep renting? Check these articles out:

http://www.economist.com/node/21540231

http://www.vancouversun.com/business/real-estate/rent+that+question/5595...

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