StatCan latest wealth survey shows stark disparity between homeowners, renters
healthetank @ healthetank @lemmy.ca Posts 6Comments 163Joined 2 yr. ago
healthetank @ healthetank @lemmy.ca
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This shouldn't be a surprise, but I'm glad we have the data to prove it.
Home prices have skyrocketed recently. Home owners whos earner is boomer-aged obviously bought long ago, and the housing prices have beaten investments in that time period (Assuming houses bough 30-40yrs ago). Anyone who rented and invested the difference is obviously not going to compete.
Additionally, given the insanity of the rental market, anyone under 35 who has enough income to afford the monthly payments on a house has purchased in the last few years, so those who are still renting are likely those at the bottom, unable to purchase a house, and their income is likely the lowest, exacerbating this issue.
I have yet to see anyone who can give me a good reason we don't have laws preventing:
How big can a bubble get if its being artificially inflated and supported by government and businesses?-