Is Our Focus on Housing Killing Our Economy?
I came across an interesting article in The Globe and Mail the other day. The basic argument is that while we’ve been obsessed with houses – selling houses, buying houses, refurnishing and refurbishing houses – all in the name of saving the economy that we’ve lost sight of everything else.
The author, Boyd Erman, argues that all other non-housing related business and services have been left by the wayside in the name of economic development. We’ve been encouraged to put so much money into our houses, to update and upgrade, that we’re letting the rest of the Canadian economy slide as we become more and more house poor.
Are we spending money to upscale our houses, instead of going out for dinner? Saving for our children to go to post-secondary education? What about saving for retirement?
It’s a lot to think about.
