this post was submitted on 14 May 2025
-8 points (37.5% liked)
Canada
9691 readers
514 users here now
What's going on Canada?
Related Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Local Communities
- Calgary (AB)
- Comox Valley (BC)
- Edmonton (AB)
- Greater Sudbury (ON)
- Guelph (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Windsor (ON)
- Winnipeg (MB)
Sorted alphabetically by city name.
🏒 Sports
Hockey
- Main: c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL): incomplete
Football (CFL): incomplete
Baseball
Basketball
Soccer
- Main: /c/CanadaSoccer
- Toronto FC
💻 Schools / Universities
- BC | UBC (U of British Columbia)
- BC | SFU (Simon Fraser U)
- BC | VIU (Vancouver Island U)
- BC | TWU (Trinity Western U)
- ON | UofT (U of Toronto)
- ON | UWO (U of Western Ontario)
- ON | UWaterloo (U of Waterloo)
- ON | UofG (U of Guelph)
- ON | OTU (Ontario Tech U)
- QC | McGill (McGill U)
Sorted by province, then by total full-time enrolment.
💵 Finance, Shopping, Sales
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
- General:
- Federal Parties (alphabetical):
- By Province (alphabetical):
🍁 Social / Culture
- Ask a Canadian
- Bières Québec
- Canada Francais
- First Nations
- First Nations Languages
- Give'r Gaming (gaming)
- Indigenous
- Inuit
- Logiciels libres au Québec
- Maple Music (music)
Rules
- Keep the original title when submitting an article. You can put your own commentary in the body of the post or in the comment section.
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca
founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The scary part is even on the surface, a meaningful reduction in housing prices would have pretty rough consequences for us economically. We've spent 40 years building our entire financial system to the point where the majority of the median citizen's net worth is in their home's equity. Seeing any short term devaluation of housing in a significant way would effectively be reducing the median citizens ability to retire.
Probably the best we can hope for is price stagnation and modest but consistent decreases in housing prices while we decouple our economy from the false growth of real estate.
Everyone needs one house. When you sell your house, you have to buy (or rent) another one. If the value of your house drops by the same amount as everyone else's, then you lost nothing.
In fact, you probably gained because if you plan to buy a more expensive house, you have to pay less.
The only people for whom the fall of housing prices would be negative are those that plan on having less houses. That is, you have multiple, and want to sell some.
The median citizen is no real state investor.
If you still have a mortgage on your home, you’ve lost a lot because you may no longer have equity to cover your mortgage. Which, probably not a huge deal if you actually plan to live in it and not treat it like a medium-term investment. But there can be a tangible loss there.
My wife and I bought to get on the ladder. You can never save enough, at some point you need to hop in.
We're 2 years in on a house that doesn't suit our needs because if we didn't buy, we would keep getting priced out. If prices drop, we'll be stuck in this house. It wasn't an investment, it was building equity for when it's time to move.
At least we have a house, so many others aren't as lucky.