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Garry Marr: Why Your House Is Still Costing You, Even if You've Paid It Off

Garry Marr argues that a paid‑off Canadian home still costs money because the equity tied up could earn a risk‑free return, while owners also face maintenance, taxes and opportunity costs. The Greater Toronto Area saw average resale prices fall 4.7% last year, and rental rates have dropped 2% year‑over‑year, easing the rent‑versus‑own debate. Marr cites Alex Avery’s suggestion to invest home equity in a REIT for a five‑percent return, highlighting the financial inefficiency of treating a house as a free asset. The piece underscores the cultural bias toward ownership despite shifting market dynamics.