Quote:
Originally Posted by flamesfever
The bolded is not true. It wasn't long ago when we were debating renting vs owning a home, and renting was winning the debate. People forget all the costs that come with purchasing and owning a home like real estate and legal fees, maintenance, insurance, taxes, etc.
I believe timing is very important. Although house prices tend to go up over long periods of time, they can go down over significant periods. With all that is going on these days with the tariffs, highly volatile stock market, job losses, falling house prices, who knows what the future holds for us. It was me, I would hang on to your money and wait for a better time to invest in a house.
As for who to vote for, everyone has their specific reasons. For me, the most important question is which leader's economic ideology is going to capitalize on our strength as a nation. IMO voting in the same old government, in spite of the new fancy leader, is just going down the same path, or even worse.
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The “fancy new leader” actually understands how money works.
He was the head of the Bank of England during Brexit. I think he might just be the guy to be running this ship at this moment.
At this moment, I’d rather gamble that two straight minority governments that necessitated a lot of concessions from the NDP are the cause of the Liberal shift to the left, and it’s not unreasonable to calculate Mark Carney will bring the country more to the centre.
Have you heard him speak? He sounds like your friend’s dad. The rich one, who knows things.
As for the “rent v own” debate - let’s call this what it was; a con by landlords.
Consider, Kevin O’Leary was going on tv telling the country to rent because it’s as cheap or cheaper as owning a house when he’s the one owning apartment complexes.
Except owning your own home is probably the most important thing you can do if you ever want to retire.
No rich person doesn’t own their home.
In fact, the richer you are, the more homes you have, because it’s a great place to park money.
And even if you’re renting something because work only has you in a place for 6 months or whatever, you still own land somewhere.
Because it’s land, and it’s the most valuable thing there is.
A whole lot of people missed out on buying homes at far more reasonable terms because they were sold a bill of goods by people like the guy from Dragon’s Den.