Drawing on dozens of interviews and even more conversations with individual Canadians and couples, this second edition also tackles the economic conditions and regulatory rules that allowed such a dangerous situation to develop in Canada, formerly a nation of conservative and prudent citizens. This widely held belief and obsession with real estate led millions of Canadians to take on massive amounts of debt - tripling their collective financial burden - ensuring that Canada is one of the most indebted nations on the planet.
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He claims the reputation of home ownership as a wealth building strategy is unfounded and shows renters how to replace bricks-and-mortar with better investment opportunities.Ī newly updated edition for the fast-changing real estate market in Canada! Over the last two decades Canadians have become convinced that real estate is the “safe haven” investment. Real estate analyst Alex Avery insists renting offers a simple, more affordable way to live, plus in Canada’s frenzied housing market, going month-to-month is dramatically lower risk. Faced with expensive house prices in a near-zero interest rate world, it’s time Canadians heard the virtues of renting and seriously considered renting as an alternative to home ownership. This one-size-fits-all advice ignores the reality of Canada’s housing market.
Real estate agents, mortgage brokers, family, friends, and even the government promote ownership as a safe, attractive, and sure-fire path to personal wealth. A National Bestseller! Why be house poor when you can rent rich? “Why rent when you can buy?” More than any other, this phrase captures the overwhelmingly unanimous promotion of home ownership to Canadians.
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