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Canada’s per capita output drops 7% below trend, new Statscan report says
(www.theglobeandmail.com)
this post was submitted on 25 Apr 2024
26 points (96.4% liked)
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It's actually mostly draining into the net value of people who own property. You could classify them as "the rich" but around 65% of residential properties in the country are owned by the family that lives in them, so the vast majority of this land value appreciation isn't just going to the 1%, or the 10%, it's going to the 50% which is heavily weighted towards older people.