>This whole process is sucky for seemingly no reason. We found our own home we want and put a single offer and it got accepted and yet our realtor is taking a 2.5% cut.
Industry collusion in a free market can be countered by entering the market to compete. Offer 0.5% and people should flock to you right?
>Our mortgage officer only seems knowledgeable because they uses terms I can't understand but it seems like most of their work is just plugging my numbers into a calculator to tell me my options (and not really giving me much advice). Seems like I could do this myself but I'm scared my info will get sold to a million more people.
Precisely what it is. To give investing advice they require a fair amount of paperwork which they havent done. So they cant give you advice or risk being liable.
>These things are just the beginning and I'd imagine there are some tools or approaches that could reduce the pain, even just a little bit.
A very high percentage of these jobs are bullshit jobs. You could basically just stop doing anything of any usefulness and nobody will ever fire you. When you break down where does the actual GDP really come from? It's Finance, Insurance, and Real estate.
So basically Canada's GDP exists in that for you to buy a house you need to artificially connect to these and give a slice of the pie. The incentive to a government or politician is literally the opposite. Any attempt to fix this broken system will mean an economic depression.
If anything happens, they will find a way to make more people involved. You can see that in Canada. You'll soon have the right to a home inspection. So now home inspectors are going to be a booming industry and yet another hand in the pie. In about 5 years they'll be proposing another hand.
Imagine as well, could the government come along and tax these entities? Canadian banks are world renown for their power. Do you think we could tax the banks or the others? No way. All taxes are going to target entities which actually do something. Oil industry, lumber, farming. The taxes can't target FIRE at all. Any amount of downward pressure on this unholy arrangement will be a disaster.
So the process isn't going to suck less. It's only going to suck more.
Industry collusion in a free market can be countered by entering the market to compete. Offer 0.5% and people should flock to you right?
>Our mortgage officer only seems knowledgeable because they uses terms I can't understand but it seems like most of their work is just plugging my numbers into a calculator to tell me my options (and not really giving me much advice). Seems like I could do this myself but I'm scared my info will get sold to a million more people.
Precisely what it is. To give investing advice they require a fair amount of paperwork which they havent done. So they cant give you advice or risk being liable.
>These things are just the beginning and I'd imagine there are some tools or approaches that could reduce the pain, even just a little bit.
Here's the thing. Many of the western countries have switched to a service economy. 90% of Canadian GDP is derived from services. https://en.wikipedia.org/wiki/Service_(economics)#Service_ty...
A very high percentage of these jobs are bullshit jobs. You could basically just stop doing anything of any usefulness and nobody will ever fire you. When you break down where does the actual GDP really come from? It's Finance, Insurance, and Real estate.
So basically Canada's GDP exists in that for you to buy a house you need to artificially connect to these and give a slice of the pie. The incentive to a government or politician is literally the opposite. Any attempt to fix this broken system will mean an economic depression.
If anything happens, they will find a way to make more people involved. You can see that in Canada. You'll soon have the right to a home inspection. So now home inspectors are going to be a booming industry and yet another hand in the pie. In about 5 years they'll be proposing another hand.
Imagine as well, could the government come along and tax these entities? Canadian banks are world renown for their power. Do you think we could tax the banks or the others? No way. All taxes are going to target entities which actually do something. Oil industry, lumber, farming. The taxes can't target FIRE at all. Any amount of downward pressure on this unholy arrangement will be a disaster.
So the process isn't going to suck less. It's only going to suck more.