I’m in Canada. 25 years ago my parents bought a home for $130k, they sold it 15 years ago for $500k, it’s now listed for $1.1 million. We are so fucked.
That’s kind of silly comparison, as that money wouldn’t have been available to invest if it hadn’t been spent on a home. It would have been spent on rent instead.
Housing can’t be an investment (i.e. exponential growth above inflation) AND an affordable place for people to live for future generations. This mentality is absolutely brain-dead.
I’m in Canada. 25 years ago my parents bought a home for $130k, they sold it 15 years ago for $500k, it’s now listed for $1.1 million. We are so fucked.
My last house I bought in 2012 for 545k CAD. Sold it 10 years later for 1.3 million. Agree. We are collectively fucked.
Sounds like you’re not doing too bad
I am not. The problem is everyone else is not afforded the same luxury. What is the point of wealth if people are still struggling?
It’s frustrating.
Nah that’s in maple dollars
That’s still about 1mil freedom dollaridoos.
I mean, yeah, you could buy a lot of poutine with it but what else are you gonna do, buy maple syrup?
Poutine, maple syrup and overpriced real estate. The great Canadian tradition.
If you include maintenance and taxes, it actually sold for less than the same amount of money invested in an index fund.
That’s kind of silly comparison, as that money wouldn’t have been available to invest if it hadn’t been spent on a home. It would have been spent on rent instead.
Housing can’t be an investment (i.e. exponential growth above inflation) AND an affordable place for people to live for future generations. This mentality is absolutely brain-dead.