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

    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·
        3 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.