Quote:
Originally Posted by Traum
It is ironic that the Generation Squeeze UBC prof dude even said it himself in his surtax policy proposal that people are parking their wealth in real estates, thus driving up prices. Well, hello there, idiot! When the property is somebody's primary residence, how are they "parking their wealth" in it??? With investment properties, yes, you can say people are "parking their wealth" in that, but not primary residence.
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I feel like since housing is so expensive. Your primary residence is your entire wealth since almost half your paycheque if not more is going into housing costs.
If you bought a $600 - 650K Condo at $100K salary. You're almost living pay cheque to paycheque to live in there with very little going into savings and that's why the people may see the property as parking their wealth.