I have been hearing a lot lately about how people bought houses in the last couple of years with variable rate mortgages and are now hurting with the interest rates going up. Everyone is yelling at the Bank of Canada and the government to stop raising rates. Yes it sucks but that's how interest rates work. The fact that the Bank of Canada rate has been at 1% or lower for the last 12 years is unprecedented, guess what, bank rates go up eventually. Hell, I'm old enough to remember when rates hit 20%, my parents (and a lot of other people) ended up foreclosing on their mortgage. That's why I have never seen housing as a very good investment. I feel bad for people who wanted a place to raise their families or got too caught up in FOMOism during covid. But to all those folks who decided to mortgage their property to buy more properties so they could flip their investments, I can't say I'm feeling your pain too much. Me? Bad credit stopped me from buying in in the 90s and early 2000s and not making enough money stopped me from buying later on. Luckily I do not rent from an investment property owner who is probably desperately trying to figure out how to have me evicted so they can jack the rent for the next person or turn it into an Airbnb to meet the rising mortgage/property tax rates. Real Estate is a mess in this country and it's about to get a whole lot messier.