The gains are not evenly spread across Canadians, the agency noted, meaning they reflect the financial success of few households.
  • eezeebee@lemmy.caEnglish
    0·
    3 months ago

    Imagine paying over $1000 for rent every month, except that if you decide to move, you (theoretically) get that money back, and (likely) even more.

    Now imagine that same $1000 going to someone else and you never see it again.

        • CanadaPlus@lemmy.sdf.org
          0·
          3 months ago

          One of these days, a banana is actually going to cost that, and then this joke will no longer work. Hopefully not for decades though.

      • eezeebee@lemmy.caEnglish
        0·
        3 months ago

        I’m not disagreeing with your comment btw. I was speaking to your question about the title.

        In the eyes of a renter, homeowners are rich. It’s (unfortunately) an amazing investment with a very high barrier to entry.

        • CanadaPlus@lemmy.sdf.org
          0·
          3 months ago

          Funny enough, real estate preforms worse than just an index fund, usually. The difference is that a mortgage makes not regularly paying in much more difficult.

          But yeah, the underclass tends to rent.

          • LeFantome@programming.dev
            0·
            2 months ago

            The other differences are leverage, tax sheltering, and the low cost of borrowing. How many people can borrow $1,500,000 at 5% to buy an index fund in a tax shielded account?

            Also, don’t forget that you get to “invest” your rent money when you buy a home.

            Real estate returns are higher.