The real-estate crunch is pushing people to become more resourceful. A recent article in Globe and Mail seems to prove this. The story is about two university teachers, recently bought a 5,000-square-foot house in Kerrisdale and physically divided it from top to bottom.
Interviewed by the paper, they both say they got a a better deal by dividing a big house than if they had bought individual houses in the same neighbourhood. Now, the two couples share the title and the mortgage.
"We often see parents and children, and friends who buy together," says mortgage broker Rob Regan-Pollock. "In doing so, these people are able to build home equity faster by combining resources and sharing in the profits of higher-priced real estate."
For more on sharing property, read the whole article.