this post was submitted on 20 Nov 2023
168 points (81.3% liked)
Canada
7203 readers
222 users here now
What's going on Canada?
Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Local Communities
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
🏒 Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown - Toronto Blue Jays
Basketball
- List of All Teams:
unknown - Toronto Raptors
Soccer
- List of All Teams:
unknown - General Community: /c/CanadaSoccer
- Toronto FC
💻 Universities
💵 Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
- Canada Politics
- General:
- By Province:
🍁 Social and Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Except that they will need to take the lion share of that and buy a new also-very-epensive home. Certainly wont leave a lot of investment cash.
Did you not read the earlier comments in this thread? That very point was already addressed.
The point the article is trying to make is that after selling the house, even after mortgage is settled, these homeowners have a lot of cash. Much more than their renter peers who are in the same position (houseless) and trying to find something they can afford.
The point above seems obvious when it's put like that, but it's still hard for people to grasp.
This is why the article argues that people who are in the privileged position of having huge equity in their house need to also consider what that does to their wealth class, even if they themselves don't believe it. A lot of home owners who have had a house for 10-15 years (and even more who paid off their house years ago) have no clue how much harder it has gotten for middle class income people to buy houses.