Canadian real estate prices have surged in almost every market, with a typical home price doubling in many regions. A median household in major cities like Toronto and Vancouver would need to save over 20 years for just the down payment, more than 3x the historic average. Seems absurd? The outlandish scenario was apparently a […]
@Mkengine @karlhungus You are missing the high cost of aging in a retirement home/long term care facility. Because you retire in a home that you worked decades to pay off does not mean that will be your last “home” before death. Some retirement “homes” are charging $60,000 year.
This is true. The idea that housing-as-asset is a gift to middle-class elderly is a false promise. The middle class elderly will have all their assets stripped by the old-age industry regardless of how their home appreciated while they owned it.