The new Canadian Mortgage Charter explained (www.cbc.ca)

submitted 2 years ago by grte@lemmy.ca to c/canada@lemmy.ca

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[-] sbv@sh.itjust.works 0 points 2 years ago

any politician who lowers the current value of property will have to deal with upsetting that category of voters

We should hold politicians to a higher standard.

Bad policies have encouraged Canadians to tie their savings to unproductive investments like real estate. Coincidentally, we have declining productivity. If our quality of life was improving, I wouldn't care, but that's declining too.

Politicians should do what's good for the country, in the long term. If they have to make unpopular decisions, they need to dress them up appropriately.

And if we are excusing our politicians for being self serving assholes, then they should consider that there's a large contingent of people upset that they can't afford to buy a house, either to get onto the real estate treadmill, or to move when their circumstances change.

[-] karlhungus@lemmy.ca -1 points 2 years ago

A higher standard means ignoring voting citizens?

That seems unfair

[-] sbv@sh.itjust.works 2 points 2 years ago

It's a question of long-term prosperity. Home prices are unsustainable and an unproductive investment. Our quality of life is suffering because of this bubble.

At the same time, there's a large contingent of the electorate that's incredibly angry about being locked out of home ownership. By focusing on home owners, we're ignoring them.