this post was submitted on 11 Oct 2023
84 points (98.8% liked)

World News

38676 readers
2579 users here now

A community for discussing events around the World

Rules:

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 2 points 11 months ago (3 children)

Isn't it a good thing that there's surplus homes? The principle of single home ownership is outdated in a reality where vacation homes exist, transportation between cities is fast and inexpensive, and family may live a few hours away from you.

It's certainly much better than the housing crunch Canada is going through.

[–] [email protected] 8 points 11 months ago

Unfortunately, many of these surplus homes were bought as an investment. Not just ONE investment among many, but literally the life savings of an entire family, across multiple generations. Now that property prices and demand are crashing, that means entire swathes of the population are on the verge of losing their entire savings and retirement fund. Not just one or two members of a family, but entire families together are facing the prospect of losing everything.

It's not much better or worse than the housing crunches elsewhere, it's just an entirely different situation and dynamic.

[–] dasgoat 5 points 11 months ago (1 children)

Often the quality of the buildings is below sub-par and, frankly, dangerous.

Also it's not entirely impossible that Canada has a housing surplus that is simply kept off the market for regular folk because that'll earn the ghouls in charge more money

[–] [email protected] -4 points 11 months ago (1 children)

"Often" according to what numbers? You can't make a claim on frequency without statistics lol

[–] dasgoat 2 points 11 months ago

Apparently I can! I just did!

[–] severien 3 points 11 months ago

It's going to be pretty bad for the people who will lose their savings over this.