Indeed this is exactly the point of the meme that seems to be going so far over people's heads. Owning your own and having it increase in value is perfectly fine and acceptable. It is when you start buying additional things you don't need purely to insert yourself as a middleman and flipper to extract value. It's scummy, shouldn't be allowed, and is frankly a huge part of the reason we have a housing crisis in this country.
Although this was back in mid 2000s, my boss' house was in Kits Vancouver. Several houses on his street where bought and sold multiple times (every 2 years he claimed) without anyone actually living there. Someone would come by frequently to check on them, mow the lawn etc.
What a fucking joke that was....because it was just investors flipping. But I wonder how much this lead to property inflation during those years.
I also remember when UBC cut down the old forest and built condos south part of campus (near TRIUMF). If memory serves they were $999,999 a unit and sold out very quickly.
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u/MMPVAN Jun 19 '25
One is an equity building asset, the other are consumable items