this post was submitted on 02 Jun 2026
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Of course they don’t want to lower property values. If you reduced house prices to pre covid cost plus a more standard increase, say 25% vs the 53% google tells me that has happened in Ottawa. Anyone that has bought recently would be absolutely screwed. If they end up having borrowed more than the house is worth, the bank isn’t going to let them renew. That’s a lot of people whose down payment would have evaporated.
So the have-nots should suffer for the benefit of the have-gots. They can't even take a little bit of a hit for buying into the most overheated market of our generation. They should be protected from their mistakes because they're rich and therefore matter. If people are living homeless and dying on the streets, well, they should have had the foresight to invest in a ponzi scheme that the government is propping up.