this post was submitted on 14 Jun 2024
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I don't get the rich getting richer in the title, how does owning a home (for the vast majority of people, on a mortgage) make someone rich? About 65% of the Canadian population are homeowners. 65% of the population owning 90% of the wealth isn't that surprising or that wrong. What's truly wrong is numbers like 1% of the population owning 30% of the total wealth in the US.
It's always the homeowner boogeyman when in reality the problem comes from the government spending money wherever and not applying strict foreign home purchasing laws that keep increasing home prices. People who own one or two houses are not rich and are very unlikely to drive a Porsche, and even there, if it is an individual who owns that property, that person will have to pay their fair share of taxes on their income and property taxes.
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 $1000 going to someone else and you never see it again.
1000$ in rent! Where are you living that is so cheap?
Yeah I did go a bit low. My actual rent is more than that.
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.
A basement suite in rural Saskatchewan. I'm guessing that's about the going rate.