this post was submitted on 12 Jul 2023
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Canada
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BoC is helping rich people and corporations with their wealth transfer as regular people who bought in the last 3 years will be forced to sell their house to someone else so they can rent it at a higher price than their mortgage was while losing their asset.
Please start to get loud about this.
REITS need to be banned. People owning multiple homes should face a heavy tax that only increases with each property you hoard. Fuck this noise.
I agree with you. Maybe I'm wrong, but people who own even one home are an older demographic that votes in significant numbers. I feel like the fact that no federal party is seriously talking about fixing the housing issue is a reflection of that.
Sadly the situation will get way worse for millennials and gen z, who are already dealing with bad wages, eye watering tuition rates and a depressing job market. My dad was frugal, but earned 2 university degrees, bought a house and two cars while working as a lifeguard and then a teacher. Today, that would not be possible. Right now, students taking education in post secondary (& probably working a job or two to pay for it) are likely to graduate with crippling debt, and aren't even certain to get a job in their field. Sad state of affairs.