I'm pretty sure that home ownership is the basis for a large part of most Canadians wealth, probably for most of it. But this wealth has been built on the theft of the land itself from the Indigenous people of Turtle Island. This theft was orchestrated through broken treaties, military and police forces (e.g. the RCMP), and the physical and cultural genocide of the original caretakers of this land. The recent discovery of 215 graves of victims of Canada's residential "school" system is the most recent acknowledgement of these crimes.
As a Canadian homeowner I have personally benefited from this theft, and I feel guilty. My modest proposal is that every Canadian real estate transaction include a surcharge which will go towards starting the repayment to Canada's Indigenous peoples, who are among the poorest of Canada's citizens, and generally don't benefit from the sale and resale of their stolen lands. Of course we also need to fully and finally honour the many land claims Indigenous nations are making, and we need to finally show respect for the treaty rights and guarantees of recognition for unceded territories.
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There is a crazy real estate boom/bubble now underway, and those of us who own homes have seen our major asset appreciate at illogical percentages to almost unimaginable heights. The very modest semi that I bought in Toronto in 1985 for $45,500 is now pushing towards a million dollars. I sold in the boom/bubble of the late 1980s, and moved to rural Ontario where I bought a very modest village bungalow for $60K. I don't regret losing out on my imaginary millionaire status, as I've been able to pursue my calling as a Canadian poet while not having to pay rent or a mortgage. With real estate you can have your cake and eat it too, and my modest house is now worth 4 or 5 times what I paid for it while providing cheap shelter and comfort for three decades.
note: sent as a letter-to-the-editor The Toronto Star