Canadian real estate prices have surged in almost every market, with a typical home price doubling in many regions. A median household in major cities like Toronto and Vancouver would need to save over 20 years for just the down payment, more than 3x the historic average. Seems absurd? The outlandish scenario was apparently a […]
If I stay in my house for my retirement, why would I care how much it is worth? I would only care about monthly costs like energy or insurance, what am I missing?
Sometimes home owners will sell their house after retirement for something smaller, live off the difference, then sell that house and use the money from that for long term care, or inheritance.
There’s also the obvious: they worked for something, possibly quite hard, why do they have to pay the price for others? Presumably they’ve been paying taxes all along, and have already been contributing to the greater good.
I guess my feeling is, it’s not so simple to just wreck housing prices. I absolutely feel like corporations, and probably some ultra wealthy don’t work that hard and get most of the rewards (or aren’t even people), like if the money has to come from somewhere there is a clear set of people who could afford to lose some wealth, and not materially effect their life; and that’s not necessarily single dwelling home owners.