I need to double my income if I would like to own a one bed-room apartment in Vancouver. At least so says a recent Global TV news report. More than one bedroom requires the ability to support a mortgage of more than half a million dollars.

The dream of home ownership is pulling away from the reach of the average person (at least I think I’m average). And as I need at least two bedrooms, certainly out of my reach. Oddly, I’m no longer depressed by this thought.

A home is not necessarily owned. It is created and therefore a rental can be home. Home ownership, in my mind, represents stored accumulated wealth with the potential for capital gains to be used in my old age and hopefully passed along to my son when I no longer have a need from money.

With this in mind, I’m clinging to the thought of “rent and invest the difference.” Ok, I can’t afford the difference or I would own a home. But, I am making a point of keeping a little aside each month to invest in other vehicles. Real estate is not the only investment opportunity blessed with capital appreciation.