You will own nothing and be happy....... hmmmm. This country's most fundamental economic and social cornerstone is owning your own home. This has been stripped away purposefully. Ask yourself, why does CMHC provide extraordinary mortgage terms to landlords but not to home owners ? If homeowners could obtain the same cheap 50 year amortizing mortgages as by the government to landlords buyers would appear in droves. BTW : most of the large credit unions in BC have recently and quietly become federally organized and are no longer insured by the province. WHY ?
Just going on a tangent here... This link https://worldpopulationreview.com/country-rankings/home-ownership-by-country provides the list of countries by home ownership. The ones on top are present or former socialist countries, who didn't think that the provison of shelter has to be left in the hands of the "market".
Thats the point of capitalism. Once the citizens of the country took back control from the " tyrants " ( Romania ) they immediately corrected the government housing by transferring homes to people without needing any payment. Why are we thinking building social housing, which is just another name for purpose built rental, is the solution rejected by those most affected?
Actually there was a payment in Romania. A two bedroom apartment with separate kitchen and two balconies, and one bath, maybe at around1000sqft, was sold for the equivalent of 1,900 USD. prior, there was a nominal rent of about 1/7th of the average salary.
You will own nothing and be happy....... hmmmm. This country's most fundamental economic and social cornerstone is owning your own home. This has been stripped away purposefully. Ask yourself, why does CMHC provide extraordinary mortgage terms to landlords but not to home owners ? If homeowners could obtain the same cheap 50 year amortizing mortgages as by the government to landlords buyers would appear in droves. BTW : most of the large credit unions in BC have recently and quietly become federally organized and are no longer insured by the province. WHY ?
Well on our way to a Feudal society
All of this is if rates behave
Just going on a tangent here... This link https://worldpopulationreview.com/country-rankings/home-ownership-by-country provides the list of countries by home ownership. The ones on top are present or former socialist countries, who didn't think that the provison of shelter has to be left in the hands of the "market".
Thats the point of capitalism. Once the citizens of the country took back control from the " tyrants " ( Romania ) they immediately corrected the government housing by transferring homes to people without needing any payment. Why are we thinking building social housing, which is just another name for purpose built rental, is the solution rejected by those most affected?
Actually there was a payment in Romania. A two bedroom apartment with separate kitchen and two balconies, and one bath, maybe at around1000sqft, was sold for the equivalent of 1,900 USD. prior, there was a nominal rent of about 1/7th of the average salary.
“And when we bottom, you’ll see it in single family homes first.” Agreed. ✔️💯