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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What you just described is an asset bubble as a means for the people partaking in the bubble to get rich.
I'm sure some cab drivers got rich on crypto as well.
An asset bubble in the thing that people absolutely require to live in and thrive is not a good place to say we need to nurture and foster high return speculation.