Over several decades, the market has been transformed into a financialized wild west where the interests of the investor class are sacrosanct and social need is secondary
but most people own houses and it is their largest investment…
While this is currently true, it’s going down each year.
Between 2011 and 2021, homeownership declined across Canada and overall, there were 2.5% fewer Canadians living in owner-occupied homes in 2021 compared to a decade earlier.
I’m a member of a generation whose wealth is tied up in home ownership. I say let 'er rip!
We can’t keep putting off a fix forever, so the earlier we tackle it, the better. No matter what we do, someone has to suffer, at least a little bit, so get it over with.
There is also plenty of money available to help ease the suffering if only we had the courage to tax properly.
It also might not hurt to let the institutional lenders and the investment class just eat some losses.
With 38% of our federal politicians having real-estate investments or being landlords, and the rate of ownership amongst canadian politicians being twice as high as the general population… They literally have skin in the game.
Yup, no spine and maybe no ethics. Sometimes you have to do what is right, regardless of the consequences to yourself. Every ethical person knows that and every ethical person with a spine sucks it up and makes it happen.
While this is currently true, it’s going down each year.
So over the course of ten years home ownership went down 2.5%, but population went up from 34 million to 38 million. This quite literally isn’t sustainable.
So at a certain point we have to ask, what’s worse, two generations who don’t own homes, or one generation loses it’s life savings.
I’m a member of a generation whose wealth is tied up in home ownership. I say let 'er rip!
We can’t keep putting off a fix forever, so the earlier we tackle it, the better. No matter what we do, someone has to suffer, at least a little bit, so get it over with.
There is also plenty of money available to help ease the suffering if only we had the courage to tax properly.
It also might not hurt to let the institutional lenders and the investment class just eat some losses.
With 38% of our federal politicians having real-estate investments or being landlords, and the rate of ownership amongst canadian politicians being twice as high as the general population… They literally have skin in the game.
I’m surprised it’s only 38%, that seems too low honestly.
Yup, no spine and maybe no ethics. Sometimes you have to do what is right, regardless of the consequences to yourself. Every ethical person knows that and every ethical person with a spine sucks it up and makes it happen.