this post was submitted on 07 Jul 2023
62 points (100.0% liked)

Canada

7185 readers
298 users here now

What's going on Canada?



Communities


๐Ÿ Meta


๐Ÿ—บ๏ธ Provinces / Territories


๐Ÿ™๏ธ Cities / Local Communities


๐Ÿ’ SportsHockey

Football (NFL)

  • List of All Teams: unknown

Football (CFL)

  • List of All Teams: unknown

Baseball

Basketball

Soccer


๐Ÿ’ป Universities


๐Ÿ’ต Finance / Shopping


๐Ÿ—ฃ๏ธ Politics


๐Ÿ Social and Culture


Rules

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:

https://lemmy.ca


founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[โ€“] [email protected] 2 points 1 year ago

Many people bought homes they could afford, that they needed to live in, after passing a very conservative stress test because that was the way you are supposed to buy a home. Nobody expected the interest rates to more than double in a couple of years. Itโ€™s unprecedented. Nobody expected our government to do absolutely nothing about inflation and leave it all to the BoC to fix. You are vilifying and generalizing an entire class of people, most of whom do not fall under the cherry picked description you offered.

Repeat after me: most homeowners are regular people who borrowed responsibly under stringent criteria when they bought their homes.