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Originally Posted by Carl Johnson
your complacency further recinforeces the state of current RE situation.
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But, honestly what can the layperson who doesn't work for the Bank of Canada or doesn't have a direct line to Jim Flaherty do about the housing market? Maybe someone can start a political party and establish foreign ownership restrictions. Fat chance of that happening though as there are way too many in Vancouver and Canada that are involved in the RE economy.
We can whine, yell, and scream about how many idiots there are in Vancouver, but will this solve anything? Why can't we just invest and collect our 7-10%/dividends in peace?
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except with mortgage you are locked down but with rent you can pack up and move anywhere you want.
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I get the argument that you need to be mobile because that's the new economy. But really, how many people, particularly if they have families, actually pack up and move on a moment's notice? The only place in Canada in which you would be better off is Alberta.