175
Canada likely sitting on the largest housing bubble of all time: Strategist - BNN Bloomberg
(www.bnnbloomberg.ca)
this post was submitted on 23 Aug 2023
175 points (95.3% liked)
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You think people are able to live if they lose their job because the whole economy crashes?
The only housing I own is a 3 season cottage that we paid 50k back in 2020 at the peak of demand for cottages (that gives you an idea how much of a piece of shit we bought), I don't have too much to lose, I just realize the consequences of the bubble bursting and these consequences will most definitely hurt those who are already suffering a lot more than the status quo.
Finance is not the economy. And housing should not be a free market. That's the whole problem with it today. When you make housing a finance product, you get what we have today. It's fucked up and it needs to be collapsed and redone.
Agreed. We should regulate it. First, we should zone areas of land as only being for certain types of homes. This will ensure that the detached mansion you always dreamed of will not be usurped by some developer wanting to build condos. Next, we should regulate the structures so that someone doesn’t try to build a small/tiny home where you want your glorious mansion. Third, we enforce only one structure per property. Your mansion needs a sizeable backyard for your pool! I have more ideas, but think that’s a good start.
Oh wait.
I'll be the first to vote in favor of a non profit crown corporation taking control over anything that has more than 6 units and to require being registered as a company to own 4 to 6 units!