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As a Canadian, I vehemently want to disagree with this comment, but I have a difficult time doing so. Our government failed to rein in the housing market and it
by voisin 4y ago
As a Canadian, I vehemently want to disagree with this comment, but I have a difficult time doing so. Our government failed to rein in the housing market and it became easier to just sit and watch your house appreciate than strive to do better. For example, there were years recently where average houses in cities across the country appreciated more than average incomes in those same cities - I.e. the house “earned” more than the owner. With that kind of nonsensical scenario, why would anyone feel motivated to work harder? Just leverage up and buy another house.
I hope this corrects. Good times make weak men, weak men make tough times, tough times make strong men, strong men make good times. I think we are heading toward tough times.