ABMax24
Active VIP Member
OMG. Yesterday I posted how liberals are ”All In on Real Estate “. If you are millenial it’s great. The rest of Canadian, the middle finger. You the taxpayers will subsidize the millenials on there $1,000,000.00 homes with $40,000.00 non repayable down payment. Wow!.
read this article by Garth Turner (former Canada Cabinet Minister). https://www.greaterfool.ca/2021/08/25/b-boy-2/
I have a hard time taking that guy seriously, first he complains that a tax free account will drive house prices up (which it will), but then attempts to defend REITs which are going to take billions from the stock market and use it to buy up tens of thousands of single family dwellings to convert into rental properties, because that's going to make purchasing a home more affordable.
REITs are a huge problem, and are going to do nothing other than add more froth to an already overinflated housing market. Most people aren't looking for a rental house they can pay $2500-$3500/month for, they want to take that same money and put it into a mortgage so they can own that house one day.