The Widening Wealth Gap: Renters vs. Homeowners in Canada

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In this episode, we explore the substantial financial challenges dealing with Canadian tenants as laid out in a recent RBC report. It highlights the growing wealth variation with homeowners and the battle to pay for housing expenses, which are increasing faster than incomes.

Also in this episode:
Shopify awards CEO Tobi Lutke a monumental $200 million settlement package, stimulating dispute on its effect and timing.
Reddit's IPO draws attention amidst FTC examination over AI content licensing, with high investor interest in spite of possible regulatory difficulties.
YouTube mandates AI material labeling to preserve openness and prevent false information, impacting developers and audiences alike.

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The Widening Wealth Gap: Renters vs. Homeowners in Canada

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About the Author: Richard Money


  1. I sold my home. Now I pay one payment a month instead of taxes, maintenance costs. Renting is so much manageable.
    I lock my door and go on vacation. It will be great when I retire in 2 years.

    1. For some retirees, who don’t have a large family coming over for family gatherings, and your landlord doesn’t sell or rentovict, it is fine, but for the rest of us who entertain often, enjoy our pool and garden, it is not something we would consider. We also lock the doors and spend our winters in Puerto Vallarta.

    2. When you retire move to a country where the rent is even cheaper and the weather is warm all year …

    3. Until it goes up and you are elderly and have to move. Then will you be an elderly person crying victimhood – forgetting that you prioritized locking your door and going on vacation?

    4. @@clarifyingquestions You don’t have to rent and lock the door to go on vacation We are gone almost 6 months every winter and have never rented. I learned at a young age, you are either going to pay for your mortgage, or you are going to pay someone else’s.

    5. @@HamiltonRb hon I never responded to you but to a renter 2687
      3 hours ago
      I sold my home. Now I pay one payment a month instead of taxes, maintenance costs. Renting is so much manageable.
      I lock my door and go on vacation. It will be great when I retire in 2 years.

  2. I like this quick videos with useful information, feels like real financial news. You doing a great job in this project, keep up the good work! 👍

  3. No one factors in the difficulty of finding a landlord that likes you. Then being able to trust he’s investing in real estate rather than flipping it.

    1. I’ve never had a landlord not like me and none of my friends complain about theirs. Why is your landlord not liking you?

    2. @@AndyWarhol1962 Nope but if all your landlords don’t like you, Buddy, you’re doing something wrong.
      Pick better landlords or act better with them, either way, take some responsibility

    3. I like the tenants who pay their rent and cause no issues. I hate the ones who don’t pay. Maybe you’re just not paying rent on time

    1. ​@lazerhawk2192 It is absolutely not a REIT.

      As I understand it, more risk and less liquid than a REIT. Depending on the agreement for the investment, you may not be able to take the money out for up to 10 years.

    2. @nickstark8479  I see you get to pick the property. They just manage it. A reit gets to pick what you invest from a broad asset base. Where Addy its property specific. Got it. I can almost garrentuee you that most of the profit is going to the property managers. I would rather just own dream unlimited that’s where all the profits are probably going to end up.

  4. If a board feels like the company’s success lies so heavily in the leadership of one man, then that’s a company I’m going to keep my distance from.

  5. Very good video. I find it interesting about the rent vs owning and I have seen most people that buy property to rent out have mostly said its not worth buying. When they show the numbers they only provide the rent staying fixed and not take into account that rent tends to increase every year, or use the numbers like if you rent you pay $3k/month but if you own you are paying $3.5k/month for your mortgage but don’t show it over time as your mortgage is paid down. I feel like they show the fixed numbers to scare people away from owning so there is less competition for buying a house.

    1. You are forgetting upkeep on the house, months where it is vacant or tenants do not pay, fronting cash for capital items, repainting and cleaning between tenants, higher costs for insurance and taxes/heat and water that are often paid for by landlords. Also, needing to keep great tax records, then if you sell the property paying the highest level of capital gains. And needing to be available at all hours (or pay a property manager). I’ve done it and don’t ever want to be a traditional landlord again–I would have been better off to invest in the stock market.

  6. If my memory is correct, Tim Cook never made more then 100M US$ being CEO of Apple. Also a reminder, Apple had a net income of 97B$ compared to 132M$… I understand that they are both very different companies at different stage in their growth phase, but such a pay if absolutely insane. I’d be pissed if I was a shareholder os Shopify..

  7. Banks want you in a mortgage situation, so any report coming from a Bank favouring owning versus renting will biased! There are a lot of hidden costs in owning a home that I am sure they are not factoring into their reporting!

  8. This is not even debatable. Most people anywhere in Canada who purchased a house since 2012 have won lottery. While their mortgage keeps going lower, renter has to deal with skyrocketing rents, annual inspections, and possibly losing their house. Owner just make sure you buy something you can afford.

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