Re-examine our own lifestyles, priorities

Who knows how affordable housing might be delivered by government. To date, government has only provided residential housing on isolated military bases and indigenous communities.

This was a statutory and practical measure because of lack of access to commercial housing. Military housing was a powerful incentive to buy one’s own home. Everything is relative.

In 1976, I purchased a three-bedroom home with a 9% mortgage which would cost 10 times as much today. My pay today would be 10 times more than in 1976. Inflation was higher back then, and mortgages are only 2% today.

A home buyer is probably further ahead today, if housing was considered in isolation. Lower mortgage interest rates make a big difference.

But other things have changed too. Tax Freedom Day in 1976 was on April 19. Now it’s June 20. More government means more taxes. And higher taxes remove purchasing power for other things, including housing.

People now carry huge non-mortgage debt loads compared to 1976. Except for vehicle purchases, personal debt was much less. Expectations were lower, and people were prepared to wait and do without instead of buying on credit. Financing vacations and consumer goods were the exception. Dining and socializing was mostly done at home. Life was still pretty good and debt related stress was a lot lower.

Now we’re hearing howls about affordable housing and promises to fix things from all political parties. Instead of looking for salvation from politicians, people ought to examine their own lifestyles and priorities, and look within for solutions. It’s often a matter of sorting out needs and wants.

Non-mortgage debt loads are a huge obstacle to home ownership. Should nanny government intervene to save people from personal debt as well? We sure don’t hear anyone campaigning for higher interest rates to suppress housing prices and borrowing in general.

We’ve got a debt driven economy, a debt addicted society and a debt and tax addicted government. An affordable housing crunch was the inevitable product of our larger debt and taxation crisis.

Politicians say lots of things during an election, but the only sure bet for housing is to work and save for a home instead of voting for one. Living large is nice, but it’s always a choice on when and how to do it. People who front end this are at greater risk of claiming housing distress in their senior years.

John Thompson Kaleden