What does a "normal" market look like?

David Megginson said:
Yikes! The median home price in Canada is CA $720K (US $570K). There must be a lot more economic disparity in the U.S. But you do have to consider population distribution rather than geography — an awfully big percentage of the U.S. population lives in states like NY, CT, NJ, CA, etc. with hot property markets.
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My mom is from a small town on Lake Huron, I still know a couple people up there and I can’t believe the price of houses!! Little cottages are close to a million bucks!!
 
N747JB said:
My mom is from a small town on Lake Huron, I still know a couple people up there and I can’t believe the price of houses!! Little cottages are close to a million bucks!!
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The weird thing is that it's not hurting younger people — there was an article a few years ago (the Globe?) saying that so-called "millennials" (then) in their 30s had the highest rate of home ownership in Canadian history at their age. And it's not due to subprime or neg-am mortgages, because we don't have that junk up here.
 
David Megginson said:
The weird thing is that it's not hurting younger people — there was an article a few years ago (the Globe?) saying that so-called "millennials" (then) in their 30s had the highest rate of home ownership in Canadian history at their age. And it's not due to subprime or neg-am mortgages, because we don't have that junk up here.
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We aren’t seeing the subprime mortgages here like 2007, young people are putting cash down. We just sold our house, mid-700’s, couple put $400K down and they haven’t sold their previous home yet!
 
There's a 79 182Q listed at $399.9k on TAP that just highlights how whacky the market has become.
 
Boy I forgot all about this thread and then it popped up in my inbox... as the OP. I figured out what a normal market is... it's not! LOL... there is no "normal"... there's just "a market". Sometimes it's up and sometimes it'd down.

Anyway, we did find a Cherokee Six, stumbled upon it through coincidence and it hadn't been posted for sale yet. From all accounts we actually got a good deal (I know - weird in this market). We closed on it November 1 and have been enjoying it as much as possible ever since. It's currently at the Avionics ship getting an Autopilot and Fuel Computer installed. I'll see if I can attach some pics.

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"Normal," aka normative, is a theoretical construct. Like "efficient bureaucracy, honest academics, and competent governance," it exists only in our minds.
 
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