this post was submitted on 24 Jan 2024
49 points (98.0% liked)
Canada
7196 readers
489 users here now
What's going on Canada?
Communities
π Meta
πΊοΈ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
ποΈ Cities / Local Communities
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (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)
- Winnipeg (MB)
π Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- MontrΓ©al Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown
- Toronto Blue Jays
Basketball
- List of All Teams:
unknown
- Toronto Raptors
Soccer
- List of All Teams:
unknown
- General Community: /c/CanadaSoccer
- Toronto FC
π» Universities
π΅ Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
π£οΈ Politics
- Canada Politics
- General:
- By Province:
π Social and Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I wonder how much wealth they're really retaining. While I'm sure people with real estate is mostly doing better than those without, as long as they're living in the area they're getting hit with the high cost of living they help create.
In theory people should start realizing the economies don't happen in vacuums and by keeping living costs up for others it means theirs will likely go up as well.
This intuition kinda works on average but even on average it may not apply fully. Yes you could trace cost increases to the real estate market but those might still not neutralize the upside for owners. Most real estate owners bought years or decades ago. Sure their property taxes and other costs are going up. However people's properties who bought 10 years ago have more than doubled in price. From their point of view, things are not bad at all. The ones that don't own are hit disproportionately. And many if not most are spatially isolated from the shantytowns, courtesy of urban sprawl. π