449
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 30 Aug 2023
449 points (98.3% liked)
Canada
7133 readers
292 users here now
What's going on Canada?
Communities
๐ Meta
๐บ๏ธ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
๐๏ธ Cities / Regions
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
๐ Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montrรฉal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown - Toronto Blue Jays
Basketball
- List of All Teams:
unknown - Toronto Raptors
Soccer
- List of All Teams:
unknown - General Community: /c/CanadaSoccer
- Toronto FC
๐ป Universities
๐ต Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
๐ฃ๏ธ Politics
๐ Social & Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 3 years ago
MODERATORS
But then how would we generate GDP?
This is fake GDP. Investing in land value is unproductive. Unlike a business, nothing of value is added.
In Canada, spending a million dollars to open a restaurant or found a tech start up is a worse bet than just buying a house. Not to mention these businesses are simply harder to keep open when real estate expenses are so high. This is terrible for our economy and one of the biggest reasons why our GDP-per-capita is falling behind peer countries.
I think their question was facetious.
Hard to tell. Lots of Canadians, including probably our prime minister, genuinely believe that high and rising real estate prices is good for our economy.
@SkepticalButOpenMinded @dubyakay
I wish more people understood this.