It may be several years yet before home prices fall back into an affordable range for the average Canadian, according to Oxford Economics.
It may be several years yet before home prices fall back into an affordable range for the average Canadian, according to Oxford Economics.
I never wanted my house to be a stock market investment. It’s just that I want some consistency. Tell me what I’m getting into. Are we playing this game where we bid for overpriced housing as a supplemental retirement benefit? Or are we building a better future where the former doesn’t matter? I just don’t want to get fucked, that’s all.
But earlier you also said:
I.e. you see your home as an investment from which you expect to see a positive return, but now you are afraid that it may lose some of that value.
I get it: I would also like my investments to grow. The reality is that investing comes with risk. People who want to minimize that risk keep their money in a savings account, a GIC, or treasuries. With low risk come low returns, though. There is no free lunch.
Here is what is different: when we overbid for housing and it becomes expensive, real people suffer from homelessness and overcrowding. The same isn’t true of stocks or other investments.
in a way you already got fucked by buying an overpriced house and even if housing prices go down, you only get fucked more if you buy a cheaper hose relative to your current one, and only way you can really benefit from higher housing prices is also by buying a relatively cheaper house and pocketing the difference