Ben iambenleavitt on Canadian housing anarchy

    por Gigliola: Finance

    Ben (iambenleavitt) argues Canadian home prices dropping to true value would trigger street anarchy. Most people already can't afford these homes, while those sheltered from the reality haven't felt the impact yet.

    Transcrição (en)

    like so much of the general psyche of the people that actually hold capital in this country is dictated on that so if that goes if if that were to actually fall to true market value there'd be anarchy in the streets here because things are so dramatically overpriced because there was like record accumulation and greed that went on in this market that even now as we've experienced some pretty serious drop-offs like no one can actually afford to live in these homes the only people who buy these homes have like multiple and they're trying to rent them out People can't afford the rent. So now the rents are coming down. So it's a shit show here. And everyone's delusional because the, and the thing is no one listens to the poor people, right? Like no one listens to me because like, I don't have the money. I can't cause a problem. Do you know what I'm saying? So like the older people are trying to, and then because the older people, the older people don't grasp the impact of like a social media silo, right? So everyone thinks their reality is the reality and they don't realize that they're getting spoon fed what will make them feel good. So when I try to talk to my older family, cause they are, they are falling into that camp. Like they're all well off because they were old when it was the best time to be having any assets. Do you know what I'm saying? Like my mom always talks about like her friends and stuff. And I'm like, she's like, oh, they're really well off. I'm like, if they're not well off, they're an idiot because you guys lived through a crazy opportunity to accumulate wealth. So it's not like it's, you didn't even crazy. You were in the right place. If you're doing anything you want. So talking to people is very, very difficult until it hits their checkbook, right? The conversations will change dramatically when the people who have been sheltered from this start paying the actual cost. And when that happens, I don't know. Carney's got to try to figure out a way to keep that as far as possible because that will change the social dynamics of this entire country. If you enjoyed this, be sure to hit that like button and follow to stay up to date with what's going on in the world and everything else memes and markets. Peace.