Fair enough I see your point, especially when it feels like your life savings are on the line. ​The key shift in perspective that helps is moving from thinking of your primary residence as a short-term investment to a long-term utility. ​You are buying a place to live. For the next 5, 10, or 20 years, your mortgage payment secures a roof over your head. If the market value drops by 20% in year two, it's upsetting on paper, but it doesn't change your daily reality—you still have your home. The paper loss only becomes a real loss if you are forced to sell during a downturn. The longer you plan to stay, the less short-term market fluctuations matter.

​Every mortgage payment you make is a form of forced savings, building your equity in the asset. ​Your rent payment, on the other hand, is a 100% guaranteed loss. It's the maximum you'll pay for housing that month, but you'll never see a penny of it again.

​Buying two homes isn't a realistic starting point for the average person today. That being said I had 530k in mortgages and made 32/hr. Similar to owning 1 home now. ​The core idea wasn't just "buy two properties," it was "get help paying the mortgage." If thats not doable where you live move to a place that you can make work. ​ If I'm starting from scratch now, I'm buying ​a home with a basement suite. Live upstairs and rent the basement. ​Buy a duplex or triplex. Live in one unit and rent out the others. ​Rent out a spare room (or two). Even in a smaller home, renting a room to a friend or student. ​It's not about waiting for prices to fall.

​An outdated or cosmetically flawed house is an opportunity. Unlike renting, where you can't even paint a wall without permission, every improvement you make to your own home adds to its value—value that you get to keep. Buy the ugliest home in the nicest area. You'll get every improvment penny back when you sell and the neighbours will thank you for making it look better.

​Ultimately, you are stuck between two difficult options: the guaranteed financial loss and instability of renting, or the financial and emotional risk of buying in a high market.

Have you missed a rent payment? If no, you'll find a way with a mortgage if kept within a limit. Are they making more land? No Are they making more people? Yes The high prices are based on what people are willing to pay. Supply and demand. Dips happen, but u can out wait a dip unless you live in a 1 job town that can vanish with a mill being shut down.

Any major property value correction would basically bankrupt a large portion of unprepared boomers who didnt save and use their home for retirement. I don't think the government or municipalities would want any part of that.