this post was submitted on 14 Aug 2023
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Except my concrete asset is worth negative hundreds of thousands on paper, it’s mortgaged, and it took me near a decade to build up to save enough to buy a home.
And it’s tautologically true someone who could afford a down payment is in a better financial spot than someone who couldn’t. I don’t see the point of a comparison of who’s got it worse, the answer is always people without the ability to save.
My point is there are more than just renters who are getting squeezed right now, we need to properly manage the situation instead of renters blaming honest homeowners while the banks just looked away and let shitty slumlords overleverage themselves and the provincial governments gave them free reign to cover their losses by gouging renters infinitely.
Did your house burn down and you didn't have insurance to rebuild or how the hell did you manage that? The market has softened a little, but not that much. Well, maybe if it was a $30,000,000 home?
Saying the liberals are in a tough spot because they have to choose between helping renters who have no assets and owners who have hundreds of thousands is obviously going to raise a comparison.
It doesn't seem like a tough choice from where I'm standing. People like you will recover over time. But people who don't own homes have nothing to recover. So it's pretty obvious who needs the help.