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Yeah, seems like the only way to FIRE in Canada is to speculate in Real Estate which is growing like 100% every year - everyone and their mother is getting mort
by wasser07 5y ago
Yeah, seems like the only way to FIRE in Canada is to speculate in Real Estate which is growing like 100% every year - everyone and their mother is getting mortgages against their existing homes to make bank.. the crazy part is that it's working.
Where is the innovation? Future really seems bleak in Canada if you don't already own a home.
- openknot 5y agoWould this really be true? It sounds broadly plausible, but I've also read about substantial growth in the technology sectors of Ottawa and Kitchener-Waterloo projected to increase, so I was under the impression that there is real innovation in the country.
- mgh2 5y agoSo is "[Insert your city] is next Silicon Valley" narrative - propaganda to attract investors and immigrants.
- wasser07 5y agoLike the other guy said it seems to be just propaganda by the Govt to attracts immigrants and investors. I visited Canada and have relatives there. They're "rich" now because they bought housing twenty years ago but for the new generation the future seems bleak. Those who studied Medicine or Software or have in demand skills seem to keep moving to the US because they instantly double their salary.
- mgh2 5y agoIn the US you have house price increases due to tech, in Canada you have this based on speculation and money laundering. Your pick, I rather live in a place where at least the salary can catch up.