My neighbour bought his house for $920k in 2017 ( York Region). He got a divorce this year and wanted to sell. Had the appraiser in who appraised his house for $700k. Other houses in the neighbourhood going for around 600-700k that are better or equal . One went in the mid $500s that was a fixer upper. He regrets his purchase. Anyone who bought in 2016-2017 and are looking to sell are regretting their purchases.

Only people in who Spring 2017 regret it now. Everybody else is oblivious.

https://www.youtube.com/watch?v=P86QvxKwJo0

Let the house prices FALL in Toronto please!!!!

You are assuming savers are going to play along. Destroying the incentive to save means no savings. Canada’s pathetic savings rate is barely above 1% of disposable income as it is. You think confiscating that remaining 1% is going to preserve social order? It won’t even pay to keep the lights on.

This is a good point and something the economist has commented on in the past. While I agree with the general premise, remember when entrepreneurs flourished and the conditions they were under. Times were shitty and if you wanted to get out of the gutter you had to work hard, sacrifice, pull up your boots and hit the pavement. With crowd funding and the spread of media, I’d argue it is EASIER for entrepreneurs to generate interest and the associated dollars. Imagine, even in the 60s, having to fly all over the US (unless you were already in NY, MA, IL or CA) to get in front of people and build a business. Let alone generating capital! I do think we’re going down the road you mention where entrepreneurship becomes concentrated and tied to income but I don’t believe we’re there yet. Probably 20 years unless something changes. BD4L.