i live alone, in a house in vancouver suburb for 8 years (bought when 22). i really didnt want a house, was interested in a condo... but parents instilled value of land (they happen to be realtors/housing developers).

i carried a 550k mortgage at 22, earning about ~60k annually. i have renters in bsmt, so definitely helped.

sure i have a nice house, but i definately wasnt living a life of luxury outside... i envied my friends who lived at home with parents, whose only financial burden was if they had enough money to party on the weekend. or they spent money on cars, lifestyle etc.

definately now that i am older, a bit more sensible, little worries... am so glad i went through this early on in life.

first of all i am laughing at a bunch of my new neighbours buying a smaller version of my house for only $900,000.00 more than i paid in this recent vancouver real estate market.

second of all, i sure as hell couldnt afford a house here even though i make significantly more here than previously.

for the people that lived at home, to save for a future you might have a chance at home ownership in this market.

if you blew it on cars, extravagant expenses/trips/lifestyle than better hope your family has money to bankroll a house.

i am selling my house for about 140% markup of what i paid even though market definately not as hot with time of year + recent restrictions.