I'm sure people who bought 30 years ago are mostly happy with their choice. But because the realities of 30 years ago have very little bearing on the present. As billy112 notes, the steadily declining rate environment that those 30-years-ago buyers enjoyed will not exist again. Without that advantage to unfold, there is less upside in buying now. Also, given that real estate now costs several multiples more of typical salaries than it did then, amassing a down payment is FAR harder to do, so the spaces that can realistically be bought are not necessarily ideal for long-term use/ family planning. In addition, real estate/construction in some provinces has exploded to comprise a far larger % of GDP than the past. Buying/selling desirable land is the biggest engine in Canada's economy. High prices have been engineered through interference/policy and the deal is steadily more raw for young people. How long can this go on? Communities will still need a tax base and essential skills.