Why it might be several years before homes are more affordable in Canada - BNN Bloomberg
www.bnnbloomberg.ca
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.

  • frostbiker@lemmy.ca
    4·
    1 year ago

    I never wanted my house to be a stock market investment. It’s just that I want some consistency.

    But earlier you also said:

    And now that I have a tiny piece (on paper but owned by the bank) I am hoping (like most Canadians) to take that piece and cash out to retire on in 10-15 years time

    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.