Quote:
Originally Posted by Acajack
My kids and their friends (a couple of years under and couple of years over 20) are looking to be the main victims of the housing crisis, but barring some catastrophic "life derail", at this point I don't see any of them living in tents or on the streets at any point in their lives.
BTW plenty of countries in the world are nations of renters and apartment dwellers where owning property (especially spacious ones offering decent privacy) is only for the very richest population tranche.
While not necessarily desirable, we wouldn't be a global outlier if that ends up being our future.
|
We would be a global outlier in how our rental market functions. In developed countries like Germany where renting is the dominant method of providing housing, it is not private individuals buying individual housing units and turning them around for rent. There is clear separation between rental real estate, and "ownership real estate", which is how it was in Canada back in the 60s-80s when we built large purpose-built rental towers and housing units for individuals/families and the line between the two wasn't a complete blur like it is today.