Quote:
Originally Posted by OldDutch
The #1 debt item in this country is housing. Something the government controls a fair amount of influence over. Multiple governments have let this run rampant for election reasons. In the end it screws everyone over except those receiving inheritance (oh wait government will take 50% of that, which is conflict of interest but another matter)
So to just say irresponsible spending is the reason for so many Canadians barely meeting ends is simplistic. If I was a 20 something in Vancouver or Toronto Who bought a house I probably strongly disagree my problems are my own making.
The government absolutely owns this. Not in whole but in major part. Their interests have caused huge equality problems in Canada (despite their claims to close that gap)
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I don’t think it’s as easy as you make it out to be. The government can’t just magically control housing prices. But even if you think they could, there’s a whole other issue. Say a house costs $1m in Toronto and we want prices to be ~$400k for affordability. That’s a 60% decline. What politician gets elected when an enormous swath of would-be voters just had their largest investment drop that far? No politician is actually going to do that.