Re:Canada bans most foreigners from buying homes
by AtlasBarfed on Tuesday January 03, 2023 @02:22AM
(#34228794)
Let's say, for the sake of argument, there is some city called Fan Sanfrisco.
In this city, all the people that own houses are worth at least a million dollars, because they have a house that's worth that.
Now, a bunch of uppity kids want to build a TON of housing. What's that going to do to your property values based on supply and demand?
Oh right, it's going to drop.
Doesn't matter if you are a republican or democrat, if you're a home owner you defend your home values. When they say "all politics is local" THIS is what it means.
A property value drop means:
1) you are underwater in your mortgage (for newer buyers)
2) you are losing a lot of your retirement savings (for older voters, and boy howdy do they like to vote and protest)
In this city, all the people that own houses are worth at least a million dollars, because they have a house that's worth that.
Now, a bunch of uppity kids want to build a TON of housing. What's that going to do to your property values based on supply and demand?
Oh right, it's going to drop.
Doesn't matter if you are a republican or democrat, if you're a home owner you defend your home values. When they say "all politics is local" THIS is what it means.
A property value drop means:
1) you are underwater in your mortgage (for newer buyers)
2) you are losing a lot of your retirement savings (for older voters, and boy howdy do they like to vote and protest)