Canada

Is anyone else annoyed by the advice that young people should give up hope of paying their own mortgage for their own home in favor of paying their landlord's mortgage via rent? "People need to shift the idea that to be successful you have to own a home. It’s just not going to be in the cards for some people, and they’re in a worse position for trying to own a house,” she said."

I say that instead of telling young people to give up on goals we should, as a nation, protect owning a home as if it was a basic necessity and do something about large %'s of homes/condos being owned by investors. It was possible to buy a home on a single income just a few generations ago. I'm sure it can be again if we make housing security a priority.

It's like the story of a Vancouver woman who lived in an apartment in English Bay. She was a server when she moved there 10 years ago, and had no issue affording it. Over the years she got settled, went to school while working and became a lawyer.

She eventually had to move out of the same apartment as it was no longer affordable, despite becoming a lawyer and earning significantly more money.

If she can't keep pace with inflation going from a server to a lawyer, not sure what hope the rest of us would have.

As a young person, I love living astronomically.

Nice job with the headline quote, BNN Bloomberg writer.

Most of Europe rents, even people who make 6 figures and live in big cities…there’s absolutely no stigma attached to renting, in contrary people who decided to get a 35 year mortgage for an overpriced house (which often isn’t even a single house but a semi or a house with 3 ft of land around it) to live on the outskirts among conservative simpletons are thought of as suckers… It helps though that in the EU renters have rights and landlords are extremely limited in terms of raises or contract changes.

Only individuals should be able to buy and own residential property. Not corporations, not numbered companies, just people. They can rent them out, etc but don't get the same protections of corporations. It becomes personal at that point. Banks generally will finance about 20 properties this way before they decide the liability becomes too much. This protects small landlords still, but gets all the big money out.

Then the rental market will price itself fairly based off of that and keep the rental market in check, but when the corporations own both sides of the coin they set the price.

multiple degrees. established in my industry. "well paid" among my peers.... Renovicition means I'm living with my parents in my 30's. This is madness.

Canada has become such a shithole and I can't wait to get out