Canada Housing Crisis Worsened In 2019 Data Shows

[DeanWinchester 41,390]

2 minutes ago, Economy said:

so I guess soon ull have that equity again

Honestly we are not as concerned about the equity as we are with the security of having a place to stay

[Economy 52,932]

8 minutes ago, DeanWinchester said:

Honestly we are not as concerned about the equity as we are with the security of having a place to stay

Same. When I get to buy a house (if I do) I don't plan on it being some kind of short term investment to sell off it it goes up, I just want a place that's mine that I can live in

 

I'll concern myself with equity in 40 or 50 years when I'm retired if I need to downsize or cash in on equity if retirement savings aren't enough

 

But while ur young it doesn't matter. If u sell a house when market is up, that means rents are up too or other houses are up too so u can't just cash in. U still need somewhere to live

 

That's why Canadians being the richest middle class in the world by net wealth is a bit irrelevant...

 

Canadians main asset is their houses which is not an asset that u can cash in as easily as stocks or mutual funds. So it ends up being stranded wealth unless it's an extra inherited piece of property you can sell or if your old and gonna sell it and rent for last few year's or move to a retirement home