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A comment on The U.S. Housing Market vs. the Canadian Housing Market. Parent comment

Re:The U.S. Housing Market vs. the Canadian Housing Market by kahnclusions on Saturday September 09, 2023 @09:45PM (#37452122)
I don’t understand what that 220k mortgage actually bought… a broom closet? A parking space? A tiny house in a countryside town far from anywhere?
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Re:The U.S. Housing Market vs. the Canadian Housing Market by madphilosopher on Sunday September 10, 2023 @01:46AM (#37453240)
The 220k is the value of the mortgage and not the original purchase price; there was most likely a downpayment at time of purchase. Or, they recently renewed their mortgage and the remaining amount owing is 220k.
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