Housing is one of those things where I think you shouldn't treat it like a financial investment. Practically it has been, but I think morally it shouldn't be.
Morally speaking, unlike most things it's actually a zero-sum game. If your house goes up in price, then that just increased the cost of living for the next person who buys it (and probably for you too if you intend to live somewhere after you sell it). It also increases rents -- Not because of the fallacious economic reasoning that says prices are a direct function of the cost to produce a thing, but because the landlords who aren't raising prices ultimately get run out of town by the ones who are.
Morally speaking, unlike most things it's actually a zero-sum game. If your house goes up in price, then that just increased the cost of living for the next person who buys it (and probably for you too if you intend to live somewhere after you sell it). It also increases rents -- Not because of the fallacious economic reasoning that says prices are a direct function of the cost to produce a thing, but because the landlords who aren't raising prices ultimately get run out of town by the ones who are.
The second part of what you wrote is really the key.
Both real estate and debt aren't real markets, so they just keep doing things to raise the prices to make boomers feel rich and keep vooting, and all that means is future generations are stuck borrowing a career worth of cash (1 million in Toronto, 2.5 million in vancouver for a Single Family Home, but 800,000 canada-wide at the peak around 2020) just to have a place to lay your head at the end of the day.
Both real estate and debt aren't real markets, so they just keep doing things to raise the prices to make boomers feel rich and keep vooting, and all that means is future generations are stuck borrowing a career worth of cash (1 million in Toronto, 2.5 million in vancouver for a Single Family Home, but 800,000 canada-wide at the peak around 2020) just to have a place to lay your head at the end of the day.
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