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.
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.
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.
All that overseas money laundered through Canadian real estate sure isn't helping either.
You can write off your interest payments too. We can’t.
