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Home ownership in Canada sucks so much capital out of the system that could be put into productive assets. It’s a massive problem.

I don’t see the people who can’t afford a house, or who are struggling to put money aside in other assets choosing bitcoin just because they can’t buy a house. Unfortunately, financial illiteracy and house lust are a much greater force. I won’t stop trying convince my students of bitcoin’s value though.

Kman 2y ago

As an American I find it crazy in Canada there is no home mortgage 30 year fixed options. So many people are going to get rekt once their variable mortgage rates increase.

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Discussion

Sikto 2y ago

You would be surprised what Canadians will do to make their mortgage payments. It’s the only asset that matters to the majority of people.

Kman 2y ago

All that overseas money laundered through Canadian real estate sure isn't helping either.

Wealth Theory 2y ago

More importantly what banks will do to help them. Already seeing amortizations being rolled out to 35 years to lower payments.

Sikto 2y ago

Yep and people dont bother to calculate how much it’s adding to their principal. They only care about making the monthly payment.

Sikto 2y ago

You can write off your interest payments too. We can’t.