What's the alternative? Pay rent to some landlord to cover the mortgage for their 10th property?

I'm a Landlord and I totally agree with this video. Make yourselves happier by renting one of my properties for life.

Go ahead and keep renting. Just go talk to seniors that never owned and ask them how it is. That’s your future

As a proud Canadian citizen & black man, born in 1992, my house in the GTA area is paid off about 75 percent. I am a self-made multi-millionaire, working as a security guard, and on top of my game in my early 30's. I don't know how you 2 ladies from make that change did it, but I managed.

It is a false correlation. People in Russia live less than Canadians because they drink and smoke more, do less sport and participate in wars, not because they own homes.

Average income in Canada = $42,000/yr (so a couple's income = $84,000/yr). Average house price in Canada = $1,200,000+. The minimum household annual income required to buy a $1,200,000 house, assuming a 20% down payment and a 6% mortgage rate, is approximately $246,672.22 (data taken from ChatGPT). That's almost 3-TIMES what the people's incomes actually are !!!

That will never happen in 2024 to own a house for most people in Canada 🇨🇦😑👎🏻✌🏼

Better called "House Poor" than a "Debt Slave" but hey, are we that really now poor as Canadians??? We in the west lives on life line of debt. Without it, we have nothing to be proud of. Or are we???

I will keep my house you can rent all your life if you want but your making some else money it's that easy .this sounds like you will own nothing and you will be happy

Canadians are already taxed to the hilt. Home ownership is one way to relieve the tax burden via exemption from Capital gains tax.

Swiss resident here. Many ppl here are not tenants by choice but by necessity. In Switzerland taxes are canton dependent. Rich ppl always are trying to avoid taxation, causing real estate in cantons like Zurich or Zug absolutely unaffordable for ordinary folks. Those places are also thriving hubs for the economy, so unless sb is eager to commute 80km to work property ownership is not possible. Swiss banks require 20% down payment at least with a mortgage rate being less than 33% of the gross monthly income. This kicks out from the market majority of population in Zug, Zurich, and Geneva.

I’m not convinced home ownership correlates with happiness or quality of life.

Imo the problem is not the homeownership but the credit based economy. If credit were not controlled by the government the market would balance itself based on the offer and demand instead of the central bank interest rate dictate the real estate prices

amazing video wow really puts things into perspective!

With the price of rentals it’s better to have a house in the same amount that you pay in rental fees, in renting you pay someone else mortgage and have nothing when you retire…that is if you intend to stay in the same area for a long time…if you intend to move regularly in different places or countries, better to rent…

Its very informative and nice video. I was wondering if I can help you edit your video and also make highly engaging shorts out of them.

I wonder why I never saw your video before. You really sound and present yourself as someone who really knows your stuff. Thank you.

Very important content for Canadians and immigrants. When I moved to Canada 19 years ago, I had the opportunity to work in the housing sector. That made me question house ownership and I decided not to own a house, which is a decision I don't' regret. There a lot of articles about home ownership vs renting that can help people decide whether owing a house is the right option. I also think that owning a house gives you less flexibility of moving to other cities in with better economic prospects, which can be very important when facing a slow job market

I know that so many people have backed away from the idea that owning a home is not as huge as it used to be. I still believe though that owning a home is something like living an asset for your future generation. Real estate is one of the tools that can be used for keeping and passing along generational wealth. This will not be achieved by owning only a single house that you live in though. You will have to buy multiple properties that have positive cash flow.

I've noticed in Canada people are more likely to take care of their property if they own it.