Real Estate

Pattie Lovett-Reid: "Morneau should be cautious in helping millennials buy homes. Owning a home is not a right!"

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  • Jul 26th, 2020 1:31 pm
Sr. Member
Dec 23, 2012
672 posts
532 upvotes
RICHMOND HILL
lechan wrote: It depends of where you are in life, it doesn't hurt me or border me. When the stock and the re market rise, my net worth goes up, you get richer but so do other people who own the same thing as you so the net effect will be 0. But if you hold no stocks or re and the stock/re market goes up because of money printing, then you will fall behind, you make the same wage as the others who own stock/re but your cash value can't go up. It is a ponzi scheme set by the elite class, we are just force to go along with it.
imo you give the "elite class" too much credit. they are a part of the same game, they just happen to be the top players. there is no master plan, it is just the natural evolution of our financial systems under the constraints of the environment.
Last edited by Mosho1 on Jul 26th, 2020 10:12 pm, edited 1 time in total.
Sr. Member
Jul 18, 2020
753 posts
1218 upvotes
Mosho1 wrote: imo you give the "elite class" too much credit. they are a part of the same game, they just happened to be the top players. there is no master plan, it is just the natural evolution of our financial systems under the constraints of the environment.
Sure it just happen naturally, call it whatever you like but the way this game is going in the next 2 - 3 yrs or so I can't see how the interest rate can rise to 5%. If your asset is diversified and balance between cash, stocks and RE, there is really nothing to worry about.
Deal Addict
Jan 13, 2016
1290 posts
678 upvotes
Vancouver, BC
Did anyone read this article?

https://www.theglobeandmail.com/investi ... ver-today/?

Interesting his argument that the median income isn't that different, yet housing prices are higher then 1984 (although interest rates were a lot higher then)

My only other comment is i don't believe the boomers were taking as expensive vacations then as millenials are known to do. You can't have it all.

Also i bought an older condo in burnaby for 200,000 in 2014. I am still feeling there is some snobbery over which properties are bought. I think its a complicated issue difficult to simplify into one reason millenials can't buy.

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