The recent run up in property prices in most major western cities makes me think the home owning class isn't in too bad of a shape. If you own a house in Vancouver, the Bay area, Toronto, London etc. you basically won the lottery. If you are a young adult, well ... hope your parents help you out?
My parents were immigrants and not savvy enough to buy a house. I'm wondering how I can ever afford a 200K down payment on a million dollar house, and if that is in any way a reasonable idea. Taxing income is the wrong approach since people getting income are contributing to society. The lottery winners who happened to own houses in the right place .. I'm not sure what they contributed.
My parents were immigrants and not savvy enough to buy a house. I'm wondering how I can ever afford a 200K down payment on a million dollar house, and if that is in any way a reasonable idea. Taxing income is the wrong approach since people getting income are contributing to society. The lottery winners who happened to own houses in the right place .. I'm not sure what they contributed.