Quote:
Originally Posted by Igottago
How many Canadians have been able to use their investments in homes to actually increase their net worth and financial standing. You don't want to kneecap people's opportunities for upward mobility. There's cab drivers who've been able to build a good quality of life using by saving up for home purchases.
I wouldn't argue that things aren't way more difficult now -- they are. But to say homes shouldn't be investments period, ignores the opportunities that have come with investing in homes. And it hasn't been just for the already rich.
|
Primary residences are not subject to capital gains taxes. Further, increasing your net worth using a primary residence isnt really that great unless you plan to later move to a place with less expensive housing. Old people don't seem to be doing that much, these days