Snowboarding at Frostfire

I did a day-trip with Joey and Dave down to Frostfire in North Dakota. The black fields and zero degree weather on the drive down didn't leave us too optimistic for decent snow, and yet everything was open except for the half pipe. This doesn't say much for snow quality though; the hard pack surface was closer to crushed ice than snow.

Left - regrouping and discussing whether it's better to take long slow runs, or to bomb down the steeper and shorter runs. In Frostfire, the long runs are all of about 4 minutes. It was strange to see all of the rails and jumps that the staff have built in the terrain park. I still remember when the ski patrol would take lift tickets away for building a 2 foot kicker on an unused run. Actually, I can even recall some of the very first times I showed up with a snowboard, and we were turned away because they didn't have insurance to cover us on their slopes. Hard to imagine, given that we saw about 15 boarders to every skier this time around.

Left - The hardest part of snowboarding - getting off the chair lift. I couldn't believe how badly the chairs had been maintained, and only 1 of 3 lifts was running. The seats had been replaced by loose pieces of plywood, with a hard edge that cut into the underside of your legs on the ride up, and splinters that ripped away at expensive snowboarding pants. Classic Frostfire.

Above - Joe getting some fast air on the "chicory run".

Real Estate Rant

So, we've been back in Ottawa now for about a week and a half, and are slowly transitioning back into the cold, and the fact that it is dark by 4:30. Life has been relatively busy, as we are trying to deal with as many issues as possible before we leave for Winnipeg for 3 weeks over Christmas. With the baby due in just over 3 months time, we are realizing that our very small apartment/shoebox will not suffice, and so we've reached that ugly crossroads between signing another rental lease, or making the HUGE leap into real estate.

I have often lamented with my friends to no end about how "real estate" is the topic that seems to hang over my generation. Never fail, the inevitable discussion about how people have become instantly rich, or alternatively, how first-time homebuyers are feeling locked out of purchasing, will eventually rear it's head. It's all very tiresome, because for the most part, people's opinions are highly speculative. This combined with the fact that RE is by it's very nature, seen as just another investment tool, and in fact, could be viewed as rolling the dice on the biggest gamble of your life in some markets. Another sense of shock is generally felt regarding the outrageous year-over-year gains in market value, and the underlying question has to become where this "new money" is coming in from. Essentially - who are these people that continue to fuel this market? Can anyone out there say that they've realized an average salary increase of 20% a year (50% in Calgary). Maybe it's offshore investors, but these investors still require bodies to fill their condo developments. What I find most intriguing, is that studies are now showing the median affordability in homeownership is actually worse in today's market, that it was in the 18% interest rates of the early 80's. This is absolutely frightening considering the massive effect that interest rates have over the life span of the mortgage.

Like many people, I find myself wondering if this is just a market correction, or a general trend towards home ownership in the future. Will Canadian cities transition into a more European model, where detached homes are a distant reality for the working stiff, and we learn to live with less square footage? Or will it reach the point where the long term model is based on some of the most expensive cities in the world, namely, in Asia where mortgages are signed for 50+ years, and you "will" them to your kids. Gee...thanks Mom and Dad.

I also wonder if the idea of raising a family on a single income is becoming an obsolete model. It would seem so when sitting down with financial advisors, and there sense of wonder over our priorities.

Anyhow, for the time being, we will continue to tour the neighbourhoods, note down some possible options, and then return home only to get pissed off when checking mls.ca.