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.
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It's fine for a primary residence to be an appreciating asset (or just an asset...appreciation should not be assumed or guaranteed).
It's less fine for investors to spin 5% DPs into multiple properties over and over to the point that it skews the nature of the housing market. Of course there are two sides to the coin where increasing supply is the paramount concern, but in the near term the capacity to build seems somewhat finite, so it's more a matter of who should have 'easiest' access to that supply, thereby influencing the form of housing built.