π¨π¦ should think twice a housing bailing out.
A drop in home prices will restore productive investment & over half of the largest voting demographic currently has no chance of homeownership.
Things like increasing the CMHC limit is a death blow to the future.
#ToRe #VanRe 1/
A drop in home prices will restore productive investment & over half of the largest voting demographic currently has no chance of homeownership.
Things like increasing the CMHC limit is a death blow to the future.
#ToRe #VanRe 1/
2/ Not everyone needs to own, but affordable shelter needs to be the alternative.
The fewer anchors young & skilled labor has, the more likely theyβll migrate to countries that will heavily outcompete π¨π¦.
Live in a micro apartment to fund my retirement, isnβt a great pitch.
The fewer anchors young & skilled labor has, the more likely theyβll migrate to countries that will heavily outcompete π¨π¦.
Live in a micro apartment to fund my retirement, isnβt a great pitch.
3/ we know increasing leverage allows people to borrow more future income to pay for a home, increasing prices.
Yet policymakers are hell bent on making sure you can borrow more.
They donβt limit 30% of your income for housing to save you, they want 30% perpetually.
Yet policymakers are hell bent on making sure you can borrow more.
They donβt limit 30% of your income for housing to save you, they want 30% perpetually.
4/ Also, 30% of your income on shelter is completely arbitrary.
CMHC archive data shows in the 70s and early 80s, households spent less than 20% on avg.
We let investors and mortgage companies, whose job is to generate more mortgage debt, determine how much housing costs. π€·ββοΈ
CMHC archive data shows in the 70s and early 80s, households spent less than 20% on avg.
We let investors and mortgage companies, whose job is to generate more mortgage debt, determine how much housing costs. π€·ββοΈ
*think twice about a housing bailout. I need a Twitter editor to proof and ask questions. π
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