Canada's Red-Hot Housing Market Is Betting Interest Rates Will Never Rise (opens in new tab)

Very interesting details in here: a bunch of Canadians do have variable rate mortgages, but they've apparently been structured so that rate hikes just increase the life of the loan not the payments. The real problem is the massive amounts of property held by investors.

What the story fails to cover is how a rate hike would actually make life better for everyone too poor to buy a home.

If a big anti-capitalist revolution ever comes to the West, it will be over housing. Seems that the little guy is completely screwed in this situation, but due to campaign finance laws, zoning, media propaganda, etc. they really have no recourse. Unfortunately I am in this category as I only recently graduated from college. I'm not going to accept a lifetime of getting buttfucked by landlords with rising rent prices every year - if the current system continues like this then eventually I will not be in favor of it.