Thread by @ronmortgageguy

For Many People In Canada There Is No Housing Crisis: All Levels Of Government Depend On That Fact

If you bought a house in Ontario before 2013 there is no Housing Crisis

In fact if you just own the one house and your mortgage isn't renewing now, things look pretty good

2/

If you bought in Ontario longer than 10 years ago you have experienced a remarkable increase in personal wealth

The value of the house has doubled at worst and may have come close to a 250% run-up in value depending on region

Oh, and you likely paid down your mortgage

3/

Some people have no mortgage and many have comparatively small mortgages

While alot of those people who have seen a huge increase in tax free wealth worry their children will have a tough time owning a home they also DON'T want to see any Property Tax increases

4/

They mostly DON'T want to see any big decrease in property values, they like the financial cushion this huge amount of home equity has created almost by magic

As one of them said on Twitter this weekend: "Why do you call this a Crisis?"

No crisis for them for sure

5/

That's why Governments may worry about losing votes from young people BUT don't panic because Mayor's and Cabinet Ministers know there are alot of votes available in maintaining the status quo

So the almost unbearable problem some people feel in our Housing Market continues