CAP
July 6, 2022
According to a recent report, 29 per cent of Canadian adults aged 18 and older have “either given up on homeownership or resigned themselves to being forever renters.”
Curiosity abounds as we drill down on the circumstances. During the primary pandemic years of 2020-2022, sales records for home purchases were toppled, while demand remained at a fever pitch throughout the two year period.
Who are the primary buyers? People who own more than one home accounted for over 30 percent of the housing stock in Canada’s biggest markets.
“Multiple-property owners accounted for 31% of all homes in Ontario as of early 2020 and almost the same share in British Columbia, a report from Statistics Canada said Tuesday.”
Let CAP cut to the chase: people who own more than one home qualify as the rich. They are also foreign investors, and wealthy immigrants to our country.
These people, as opposed to 9 million Canadians who say they have given up on home ownership in Canada. What a service Justin Trudeau has done for the middle class of our country.
Rather than delve into tedious market analysis, CAP will speak of the unspoken. Could the elimination of home ownership and related build-up of equity be an intentional pursuit by government?
Read More HERE
