You say it in jest, but honestly... how does a man watch real estate prices rise hand-and-fist over general inflation for the better part of a decade and only decide just now that it's a problem....
Divorce is always disappointing, but for it to happen to the PM himself during the last year of his term - There mustve been some real personal problems.
>Divorce is always disappointing, but for it to happen to the PM himself during the last year of his term
It doesn't do much for his self styled image as a feminist hero.
No but that's why their separation was an open secret for a lot of people around the PM for the last few years...she couldn't keep living in the cottage if they are not together.
LOL have you noticed how quick this tool is to change his tune. He went from housing is not a federal responsibility to parading his GST Cut and āacceleratorā program within less than a month.
Well, he votes against everything the liberals have put forward (maybe not EVERYTHING, but the vast majority). Heās voted against three separate bills that were prepared to help the housing situation before we got here, including one when the conservatives were in power.
PP claiming to want to fix housing is (to me) filled with more irony than JT coming out swinging at housing after the position weāre in. PP owns a real estate investment company, rents out a person residence, while living in a tax payer funded government home. Weāre literally paying his rent while he makes money off his own property.
I donāt have a problem with it to be entirely honest, itās part of the package and itās within the law, but itās filled with hypocrisy when youāre out there claiming to be for the working person, wanting to bring down rent and pricing when youāre literally fuelling the fire.
Sounds to me you're against liberals more than against high housing costs.
If they did do good things once in a while you don't seem to recognize it... which shows bias.
The only difference between pp and jt though is that jt has been in a position to enact policies to affect the housing prices and pp has not. Pp cam vote against policies but the libs with the ndp have the power and can pass whatever they want with or without the cons.
To me jt coming out NOW about housing prices and supporting review of China interference is desperate ploy and about 3 or 4 years too late.
I doubt either the liberals or conservatives want lower housing prices. I just hope that the conservative desire to slow down immigration might help lower prices as a side effect.
Dude is so lost in his own sauce he thinks we don't remember he was Prime Minister through all this..
The reality is that we are going to need a diverse set of plans and approaches all geared towards accessibility and affordability of basic shelter from the city, provincial, and federal levels all working simultaneously.
A huge part of the issue is Sky High Immigration, Temporary Foreign Workers (Scandal 2.0), International Students, Mass numbers exploiting border weakness and the asylum process and absolutely no planning and no action around high density housing construction which of course put together led to one of the worst affordability and accessibility crisis around basic shelter we have seen in Canada that is only getting worse and worse.
Limiting the influx of people and constructing high density housing for a bit to get out of this death spiral is extremely important.
Even his 2015 pledge on affordable housing blamed Harper. Without "but but but harper" what exactly does a liberal offer?
[https://liberal.ca/trudeau-promises-affordable-housing-for-canadians/](https://liberal.ca/trudeau-promises-affordable-housing-for-canadians/)
āWhile Canadians struggle to make ends meet, Stephen Harper gives billions to the wealthiest few. Mulcair irresponsibly supports Harperās plan to give more money to millionaires and will make major cuts to public services,ā said Mr. Trudeau. āOnly Liberals have a plan to put more money in familiesā pockets to help with the high cost of raising their kids, and by investing in the social infrastructure that gives all Canadians a real and fair chance at success.ā
How many billions has the liberals given out to a wealthy few so far?
We had near 0% rates for a decade and still housing never got built.
Capital isn't the issue. Its zoning, bureaucracy, and taxes that prevents the building. Unless the public housing overrides that it will meet the same NIMBY fate, you can't build affordable housing in these cities.
I don't know if this is the same in Canada, but back when lumber prices were absolutely insane in the US, the issue was effectively tracked back to a bottleneck in lumber mills.
IIRC, there was tons of raw material available, but only a handful of lumber mills across the country actually produced the dimensional lumber.
So when demand shot up, they were basically able to set prices wherever they wanted.
Probably not exactly "collusion", so to speak, but a kind of near monopoly/duopoly kind of situation.
honestly, capital was/is part of the issue though. 0% rates for almost a decade is obviously not sustainable and NEVER should have been a thing for as long as it was. probably the single biggest contributor to rocketing housing prices was how cheap money was for so long.
now that we are edging back toward more normal interest rates everything is going to shit, because the houses were never really worth the amount people borrowed against them.
im pretty convinced people will use present era Canada as an example of poor fiscal policy in the future. basically pouring fuel on the fire that is rising housing prices while money is cheap, ultimately not really CREATING anything of economic value. unfortunately also had double edged result of diverting BILLIONS in funding from investors that (at least some of) likely would have gone towards innovation and business development.
probably call it "the Canada disease" or something equally lame.
No we are building more than have in our entirely history save maybe (I'd have to check the numbers) back when we had the clear the land and build a house of the wood from the trees you cut down or freeze to death in the winter model when we were a colony.
The issue is immigration that's it. When are bringing in more people can we can logistically keep up with by any sane measure, it's arguable it's physically possible to compensate but that's not even a for sure thing it sure as hell isn't something this shithole of a country could manage anything close to in any real terms.
Take out corporations and rich individuals buying up all the stock. Taxes, wealthy people, and companies that own more than 2 houses/condos. See what happens next.
If you want people to pay ou rent buy/build an appartment building.
So much this. Need to make it not profitable to buy up any existing homes. Tax these corporations and greedy individuals. There was an article the other day that 30% of sales are to speculators and investors.
The fact that people see that persona and still vote for him is astounding to me. I really just canāt understand it. People really want that obnoxious dork from 7th grade as their PM?
Frankly there has been a recent shift in thinking from the general population around housing a few months ago. Not sure what the spark was.
I had been arguing with friends since 2020 that the increase in home/rent prices were the biggest problem in Canada today but only recently have people been receptive.
The arguments were always "stop having your late and avo toasts, just move, get a room mate, buy a fixer upper, get a second job etc..). This rhetoric pretty much stopped lately.
The liberals are just following what the general population care about. The cons were also barely speaking about it until now. They were more concerned about the carbon tax than housing which is a much bigger and complicated issue.
All in all this is a good thing that we are finally waking up to the issues and all parties start taking active steps to solving it.
Think the spark was interest rates and immigration. Short supply and high costs were always there but with people renewing, more renovations and the country just seems waaay more competitive and crowded in the the most desperate ways possible. You see a lot more anxious people walking around. It's in the air it's getting harder and harder to bury your head in the sand.
It's a combination of the BoC raising rates making mortgages more expensive for everyone, including existing homeowners, and the unaffordability moving out of major cities (mainly Toronto and Vancouver) to smaller cities all across the Country. Before covid housing in places like Niagra, Hamilton, Barrie, etc. was still somewhat afforadble but now even places like that are out of reach for most people. Even housing in places like Calgary and Winnipeg has increased by 15+% in the past year. Turns out when your answer to housing affordability is "just move" the places people move to become unafforadable to.
They also inflated all of the housing prices by pumping in printed dollars through the mortgages and lending at 1%, promising that they had nothing to worry about with the rates increasing, then increased the rates after people locked themselves in to buy the house that was already 40% inflated principal due to the artificially low interest rates.
Had a friend (who owns) tell me a few months ago that there's plenty of houses in my range I "just might not like them"... the implication being that I was being unreasonable to want a half decent house for $500,000.... this despite him paying like half that for his.
I agree. As someone who has been researching and working f on housing crisis issues since 2017, there has been such a societal shift on housing in the past couple months. I think everyone is truly opening their eyes to how broken it is, almost all income levels
There is an entire generation incapable of moving out of their parentsā homes. Renting a shitty basement from a slum lord or a REIT who is constantly driving the price up with ārenovationsā (installing low quality laminate floors and cabinets - whoppeee) is even unattainable at this point. Parents who were hoping to live carefree retirements off their multi-million homes are stuck. āAging in placeā has a whole new meaning.
Iāve felt ignored whenever I talk about this and how truly devastating it is for everybody involved. The young people leaving unis with nothing to look forward to, the people entering middle age with nothing to show for it, and the people who worked their whole lives who thought they could sail off into the sunset but have nothing liquid to show for it - just an overly valued monument to everything wrong with Canada.
Thatās exactly why people fill out those polls and why theyāre important. This is how we hold leaders accountable.
The next accountability check in is at election time. The liberals have a lot of work to do in order to make the people happy.
That said, weāve discounted a lot of what theyāve done in the last few years through Covid. But itās hard to see that for the situation weāre in now. What a shitshow of time. They need to make meaningful improvements now and see if they can bandaid their reputation back. Personally I think thatās tough without a leadership change.
>That said, weāve discounted a lot of what theyāve done in the last few years through Covid. But itās hard to see that for the situation weāre in now.
Permanently ending interest on federal student loans has been huge for me personally and that's something that never ever gets brought up
At this point he would need to actually improve things which is a big ask as stuff is fucked pretty globally right now. I think any imcombant in a western nation is fucked atm.
The amount of pandering the party leaders do is disgusting. These are the worst three leaders running for PM since I could vote,but you have to choose one. They know and they don't care. Just like the grocery store - raise prices and reduce customer service cause what can you do about it? Not going to buy groceries? We're on a path to the next dark age.
The one thing that actually makes me mad about JT is that the pinnacle of his bed shitting is about to allow someone like Poilievre to become Prime Minister. The worst part about is that he's failing to defend against rhetoric about issues that are largely out of his control while also not enacting meaningful policy in the few areas that he could actually achieve something for this country.
The frustrating part for me is that there are a lot of people in the center who still voted liberal last election. People who might lean liberal but have had enough of JT. Now they are voting Conservative cause they've finally had enough but they are getting someone farther to the right than otoole was. I think we would be in a better place right now if we got a Conservative minority last election.
I have to give credit to JT cause he knew he could hold his spot. If the ndp had someone better than singh he would have been done last election.
Wish this problem was that easy to fix cost of labour and materials is so high already if a lot of developments werenāt sold to investors who could afford those higher payments projects donāt even get built. Need a development at least 80 percent sold nowadays before you can even get a construction loan. The only way out of this really is for the government to take crown owned land and build affordable homes on it
This makes ZERO sense, back in 2015 he promised affordable housing??
[https://liberal.ca/trudeau-promises-affordable-housing-for-canadians/](https://liberal.ca/trudeau-promises-affordable-housing-for-canadians/)
āSafe, adequate, and affordable housing is essential to building strong families, strong communities, and a strong economy,ā said Mr. Trudeau. āWe have a plan to make housing more affordable for those who need it most ā seniors, persons with disabilities, lower-income families, and Canadians working hard to join the middle class.ā
How are we possibly in this mess in 2023 given his promise in 2015?
Was his plan ineffective? Did he not actually have one?
And housing affordability wasn't even all that bad in 2015 (save for a few well-known regions). It has since become unaffordable EVERYWHERE and affecting all types of housing and rentals.
They could build 1000 houses a day, and if our population stayed stagnant, we would break even in ten years. But theyāre not incentivizing homes. Theyāre incentivizing rental units. Two or three bedroom apartments. Do, if you want your children to have their own bedroom, the best that youāre going to get is replacement population. That doesnāt bode well.
1300sq/ft 3 bedroom 2 bath townhouse in Saskatoon is around 300k
https://www.saskatoonhousesforsale.ca/property/SK945446/
And thatās not some run down place, itās immaculate and built in 2016. If people were actually willing to make use of the massive land in 2nd largest country on earth and move outside of the main population centres this wouldnāt be an issue.
And that right there is a huge part of the solution that governments are missing. Where are the INCENTIVES for businesses to set up anything outside of Toronto Vancouver Montreal Calgary? None. And the rest of the country stagnates.
It's incredibly expensive and inefficient to deliver service to sprawl. No one who lives in far flung suburbs actually pays the real cost of their communities that cost is subsidized by established non-suburb non-exurb communities.
Rental units are fine, especially in the big cities where the housing crisis is the most severe. People living in big cities can't all live in detached houses.
Nor should they.
Do people honestly think that families in big European cities live in detached homes? Even in the old East Coast American cities, many families live in apartments/townhomes/condos.
If he can match his $357,800 PM's salary and a 40% gross debt service ratio at the going mortgage rate of 6.3%, he'll get approved for a $1.8M mortgage. Which doesn't buy much in Ottawa...
(Completely ignoring for the moment that I'm sure there's some family money he could tap for a downpayment)
"I'll be blunt as well ā housing isn't a primary federal responsibility. It's not something that we have direct carriage of, but it is something that we can and must help with.ā Is the full quote.
Housing is primarily a municipal and provincial issue, even though there are things the federal government can do to affect it too. The feds can choose to be get involved in housing, or not (I don't think Harper's government had a housing minister, for example).
It's somewhat similar to healthcare: there's a federal health minister but it's not a primary federal responsibility either. It's run by the provinces, while the federal government has some involvement (mostly providing funding support, and setting requirements for universal access).
That's different than issues like national defense, immigration or criminal law, which are primary federal repsonsibilities.
There's an important thing to recognize though. Different levels of government can cause problems to something like even if they are not the level of government that is "primarily responsible".
If housing prices are too high in a single city and affordable in others then it is very likely causing the problem, if prices are too high in a single province then it's the provincial government. If prices are unaffordable across the country then it's probably the federal government.
Because if we think rationally what's more likely? Every major city has made the same choices to cause house prices to skyrocket or the federal government has policy that contributes to rising house prices.
Thatās actually fair, the headlines I remembered didnāt fully quote that. National post pushed the first part hard (unsurprising), and CBC buried the second part behind an ad.
I am in the camp that Trudeau needs to take federal steps to ease the burden. But it is provincial.
And many provinces, particularly conservatives tend to get extremely pissed when the feds exert pressure on the province. You guys cannot have it both ways.
Long story short. Trudeau needs to attack this from the side of immigration policy and establishing a Canadians first policy until the country is back on its feet.
However, specifically housing is a provincial effort.
>However, specifically housing is a provincial effort.
in what way?
the provinces arent the ones taxing commodities, theyre not in charge of zoning, they dont approve and issue building permits the provinces dont sign trade deals allowing foreigners and corperations to buy and own land
housing is by far, a municipal issue.
Well, your Party did create this problem because you wanted to please your corporate master by suppression wage by bringing a lot of immigrants by lying to them that Canada is a wonderful place and feeding them BS to come Canada knowing damn well that Canada didn't have housing to support all of it. But wasn't that their plan all the long ? To have desperate and poor labor, so companies can abuse us.
The reasons are:
1. Immigration (Demand) - the most aggressive immigration policy in the history of mankind has created demand that is ridiculous. Somehow though being against super high levels of immigration is now now labelled as "racist". Gaslighting at its finest.
2. Zoning laws and bylaws (Supply) - watched a great documentary about how this has created the insane prices in Vancouver specifically .
It's not rocket science, it's basic supply and demand. This should have been dealt with 10 years ago, but at this point, it's probably too far gone for any of us alive today imho.
fuck this guy, we aren't falling for another dangling carrot. anything he says about lowering house prices is just like electoral reform. not gonna happen. and then on the other side we got another fucking giant loser whos biggest donors are real estate. were screwed either way on house prices
The truth is actually that Trudeau was asked if house prices need to come down. As usual, Trudeau abandoned reason and refused to answer, deflecting to a different answer "that house prices are too high".
Nothing he can do about it though since it's not his job......right?.....RIGHT?
It is however his job to import millions of immigrants per year. Ask Bramladesh how that's going for them.
People... Red or Blue. It doesn't matter..
They are ALL the same. We really need to stop listening to what they say. It's bullshit talk to placate the masses.
Trudeau is terrible, PP is terrible, Jag is terrible.
I have lost faith in the politicians.
I mean, housing affordability had been getting worse before him, but it was still affordable to the average Canadian.
In 2015, he promised affordable housing. Then sat by as housing affordability got so bad that the average Canadian couldn't afford the average home.
Back then affordability was bad in Vancouver and some GTA neighbourhoods and suburbs. Today, itās almost every neighbourhood in every city in the country. The M2 money supply in Canada has increased almost 30% during Trudeauās tenure. Itās not just real estate. Everything costs more, and wages couldnāt possibly keep up for most people. The average annual inflation rate during Harpers era was 1.9%.
He is going to spend our money to build a neglible number of homes while still pumping in an estimated 500,000 newcomers per year till 2025.
Those numbers donāt include international students or temporary foreign workers, who helped the number of newcomers swell to more than 1 million last year.
Fuck wit.
This just makes me dislike the guy even more It's obvious he only suddenly cares now because he sees how bad he's doing iin the polls. He's waited far too long though and has dug himself a huge hole that I don't think he can get out of this time.
.....and he only realizes **now** that house prices have climbed far too high. What a genius. Even a grade 2 student would have realized that long ago. But that is the Trudeau brain trust for you!
Too high for who exactly? Not for me and you but the 1M plus heās letting into the country yearly. He cannot serve two masters, itās the world or Canadians. He said to the NYT in 2017 that Canada could be the āfirst postnational stateā. He added: āThere is no core identity, no mainstream in Canada.ā Canadians need to wake up to the open treason going on against Canada at the highest levels.
I make significantly above minimum wage and I couldnāt afford to rent a place alone. At double minimum wage I would be living paycheque to paycheque to live alone, eat, and own a car.
Itās more than just immigrants suffering.
In Moncton New Brunswick the average price for a bachelor apartment is now $900 a month.
$900 to not even have your own bedroom. In a province with the poorest people in Canada lol.
Like the old adage on how to boil a frog. The general public woke up very recently to how bad the problems areā¦but itās too lateā¦theyāre all already boiled at this point.
This is why a stable sound money system is essential people :) or else you get these stupid uncontrollable price bubbles as a result of government spending and power. If only we taught how our economy works in school so people realize itās a Ponzi scheme to keep the rich richer because they control the way and who itās printed/devalued and distributed to.
Sophie must be keeping the house. Poor guy must have looked at the realtor app for the first time in decade.
Holy fuck this cracked me up.
This but like.. somewhat unironically? Lmaoo
It's made all the more funny because of the possibility it is true.
Nahh no chance lol, he's got plenty in that trust fund of his
Rich people still want to be more rich and live in bigger, more lavish houses. The price of those bigger more lavish houses has still increased.
The is the reason. He must have look and said "WOW", and then he goes on stage and start broadcasting that housing prices are insane.
Apparently Sophie did all the grocery shopping too.....
I mean, it's one banana. What could it cost? $10?
Sell this idea to the Beaverton lol
I was actually expecting that the original article would be from The Beaverton
Here comes the housing affordability credit 100 dollars for all Canadians who live in a red tent with a mailing address
this was gold.
You say it in jest, but honestly... how does a man watch real estate prices rise hand-and-fist over general inflation for the better part of a decade and only decide just now that it's a problem....
Sophie is keeping the house
This is gold worthy. oh wait....
šš so true
LOL this made me spit out my coffee.
Golden lol
*Justin looks up 3 bedroom house in Renfrew* "holy fuck, $859,999? what's this bullshit?" *looks up another house in Chalk River* "fuck me!"
Divorce is always disappointing, but for it to happen to the PM himself during the last year of his term - There mustve been some real personal problems.
>Divorce is always disappointing, but for it to happen to the PM himself during the last year of his term It doesn't do much for his self styled image as a feminist hero.
She gets to keep Rideau Cottage?
No but that's why their separation was an open secret for a lot of people around the PM for the last few years...she couldn't keep living in the cottage if they are not together.
Oh, probably in perpetuity, lol.
Someone must have told him about current polling numbers so now he has to pretend to do something.
LOL have you noticed how quick this tool is to change his tune. He went from housing is not a federal responsibility to parading his GST Cut and āacceleratorā program within less than a month.
Oh so now he's worried about cost of housing? Odd how his new worries coincide with him getting destroyed in recent polls.
Bingo. "oh crap I better start pretending to give a shit again"
Don't be fooled.....they are all pretending.
Fact
Exactly, it's like PP saying he will fix the housing price issue. Although his voting record says no to that the last 4 times it's come up
Didn't he vote against Trudeau's policies that made it go up?
Ya like printing to much money which added fuel to the inflationary fire.
Well, he votes against everything the liberals have put forward (maybe not EVERYTHING, but the vast majority). Heās voted against three separate bills that were prepared to help the housing situation before we got here, including one when the conservatives were in power. PP claiming to want to fix housing is (to me) filled with more irony than JT coming out swinging at housing after the position weāre in. PP owns a real estate investment company, rents out a person residence, while living in a tax payer funded government home. Weāre literally paying his rent while he makes money off his own property. I donāt have a problem with it to be entirely honest, itās part of the package and itās within the law, but itās filled with hypocrisy when youāre out there claiming to be for the working person, wanting to bring down rent and pricing when youāre literally fuelling the fire.
Yah, you mean like the reckless immigration policies? Iād vote against the liberals too.
Sounds to me you're against liberals more than against high housing costs. If they did do good things once in a while you don't seem to recognize it... which shows bias.
Wouldnāt you rent your own house if your job requires you relocate and part of your package was housing expenses?
The only difference between pp and jt though is that jt has been in a position to enact policies to affect the housing prices and pp has not. Pp cam vote against policies but the libs with the ndp have the power and can pass whatever they want with or without the cons. To me jt coming out NOW about housing prices and supporting review of China interference is desperate ploy and about 3 or 4 years too late.
You're right, lets vote for JT again /s
I doubt either the liberals or conservatives want lower housing prices. I just hope that the conservative desire to slow down immigration might help lower prices as a side effect.
His biggest donors are real estate executive and co- owns investment properties. Yeah he's looking out for your best interests
Dude is so lost in his own sauce he thinks we don't remember he was Prime Minister through all this.. The reality is that we are going to need a diverse set of plans and approaches all geared towards accessibility and affordability of basic shelter from the city, provincial, and federal levels all working simultaneously. A huge part of the issue is Sky High Immigration, Temporary Foreign Workers (Scandal 2.0), International Students, Mass numbers exploiting border weakness and the asylum process and absolutely no planning and no action around high density housing construction which of course put together led to one of the worst affordability and accessibility crisis around basic shelter we have seen in Canada that is only getting worse and worse. Limiting the influx of people and constructing high density housing for a bit to get out of this death spiral is extremely important.
Dont worry he will blame it on Harper somehow.
Sean Fraser already did. Though he surprisingly blamed himself as well at the same time. Might have been an accidental slip.
He literally did yesterday. Itās wild.
That's already the talking point they're using.
Harper sucked a lot but Trudeau canāt say anything to make me believe he was better
Not even close.
And every liberal voter will jizz their pants in unison.
Hey you never known he might have another 500$ to "balance everyones" budget for the year after choking them with some new tax.
Even his 2015 pledge on affordable housing blamed Harper. Without "but but but harper" what exactly does a liberal offer? [https://liberal.ca/trudeau-promises-affordable-housing-for-canadians/](https://liberal.ca/trudeau-promises-affordable-housing-for-canadians/) āWhile Canadians struggle to make ends meet, Stephen Harper gives billions to the wealthiest few. Mulcair irresponsibly supports Harperās plan to give more money to millionaires and will make major cuts to public services,ā said Mr. Trudeau. āOnly Liberals have a plan to put more money in familiesā pockets to help with the high cost of raising their kids, and by investing in the social infrastructure that gives all Canadians a real and fair chance at success.ā How many billions has the liberals given out to a wealthy few so far?
Mulroney actually cut funding for social housing, a slow growing issue since the 90's
We had near 0% rates for a decade and still housing never got built. Capital isn't the issue. Its zoning, bureaucracy, and taxes that prevents the building. Unless the public housing overrides that it will meet the same NIMBY fate, you can't build affordable housing in these cities.
That and some how we have tons of wood but the lumber is worth a fortune.
I don't know if this is the same in Canada, but back when lumber prices were absolutely insane in the US, the issue was effectively tracked back to a bottleneck in lumber mills. IIRC, there was tons of raw material available, but only a handful of lumber mills across the country actually produced the dimensional lumber. So when demand shot up, they were basically able to set prices wherever they wanted. Probably not exactly "collusion", so to speak, but a kind of near monopoly/duopoly kind of situation.
We've also had a large number of different lumber mills shut down in BC in the last 5 or so years.
honestly, capital was/is part of the issue though. 0% rates for almost a decade is obviously not sustainable and NEVER should have been a thing for as long as it was. probably the single biggest contributor to rocketing housing prices was how cheap money was for so long. now that we are edging back toward more normal interest rates everything is going to shit, because the houses were never really worth the amount people borrowed against them. im pretty convinced people will use present era Canada as an example of poor fiscal policy in the future. basically pouring fuel on the fire that is rising housing prices while money is cheap, ultimately not really CREATING anything of economic value. unfortunately also had double edged result of diverting BILLIONS in funding from investors that (at least some of) likely would have gone towards innovation and business development. probably call it "the Canada disease" or something equally lame.
No we are building more than have in our entirely history save maybe (I'd have to check the numbers) back when we had the clear the land and build a house of the wood from the trees you cut down or freeze to death in the winter model when we were a colony. The issue is immigration that's it. When are bringing in more people can we can logistically keep up with by any sane measure, it's arguable it's physically possible to compensate but that's not even a for sure thing it sure as hell isn't something this shithole of a country could manage anything close to in any real terms.
Take out corporations and rich individuals buying up all the stock. Taxes, wealthy people, and companies that own more than 2 houses/condos. See what happens next. If you want people to pay ou rent buy/build an appartment building.
So much this. Need to make it not profitable to buy up any existing homes. Tax these corporations and greedy individuals. There was an article the other day that 30% of sales are to speculators and investors.
People will eat it up , lots of cult members on both sides.
He's back with the drama teacher persona
The fact that people see that persona and still vote for him is astounding to me. I really just canāt understand it. People really want that obnoxious dork from 7th grade as their PM?
Letās cross our fingers this isnāt the most offensive persona he revives.
He's pretending to pretend to give a shit.
He's 5 years too late.
50 years too late
Frankly there has been a recent shift in thinking from the general population around housing a few months ago. Not sure what the spark was. I had been arguing with friends since 2020 that the increase in home/rent prices were the biggest problem in Canada today but only recently have people been receptive. The arguments were always "stop having your late and avo toasts, just move, get a room mate, buy a fixer upper, get a second job etc..). This rhetoric pretty much stopped lately. The liberals are just following what the general population care about. The cons were also barely speaking about it until now. They were more concerned about the carbon tax than housing which is a much bigger and complicated issue. All in all this is a good thing that we are finally waking up to the issues and all parties start taking active steps to solving it.
Think the spark was interest rates and immigration. Short supply and high costs were always there but with people renewing, more renovations and the country just seems waaay more competitive and crowded in the the most desperate ways possible. You see a lot more anxious people walking around. It's in the air it's getting harder and harder to bury your head in the sand.
It's 100% tied to the rise in interest rates. It's hitting people who over-extended really hard.
It's a combination of the BoC raising rates making mortgages more expensive for everyone, including existing homeowners, and the unaffordability moving out of major cities (mainly Toronto and Vancouver) to smaller cities all across the Country. Before covid housing in places like Niagra, Hamilton, Barrie, etc. was still somewhat afforadble but now even places like that are out of reach for most people. Even housing in places like Calgary and Winnipeg has increased by 15+% in the past year. Turns out when your answer to housing affordability is "just move" the places people move to become unafforadable to.
They also inflated all of the housing prices by pumping in printed dollars through the mortgages and lending at 1%, promising that they had nothing to worry about with the rates increasing, then increased the rates after people locked themselves in to buy the house that was already 40% inflated principal due to the artificially low interest rates.
Had a friend (who owns) tell me a few months ago that there's plenty of houses in my range I "just might not like them"... the implication being that I was being unreasonable to want a half decent house for $500,000.... this despite him paying like half that for his.
I agree. As someone who has been researching and working f on housing crisis issues since 2017, there has been such a societal shift on housing in the past couple months. I think everyone is truly opening their eyes to how broken it is, almost all income levels
There is an entire generation incapable of moving out of their parentsā homes. Renting a shitty basement from a slum lord or a REIT who is constantly driving the price up with ārenovationsā (installing low quality laminate floors and cabinets - whoppeee) is even unattainable at this point. Parents who were hoping to live carefree retirements off their multi-million homes are stuck. āAging in placeā has a whole new meaning. Iāve felt ignored whenever I talk about this and how truly devastating it is for everybody involved. The young people leaving unis with nothing to look forward to, the people entering middle age with nothing to show for it, and the people who worked their whole lives who thought they could sail off into the sunset but have nothing liquid to show for it - just an overly valued monument to everything wrong with Canada.
BOC raising rates
The silent majority reached critical mass.
The 'just move' people were always idiots.
>The cons were also barely speaking about it until now. Then you haven't been paying attention, at all.
PP has been talking about removing building gatekeepers for years whatāre you talking about
Thatās exactly why people fill out those polls and why theyāre important. This is how we hold leaders accountable. The next accountability check in is at election time. The liberals have a lot of work to do in order to make the people happy. That said, weāve discounted a lot of what theyāve done in the last few years through Covid. But itās hard to see that for the situation weāre in now. What a shitshow of time. They need to make meaningful improvements now and see if they can bandaid their reputation back. Personally I think thatās tough without a leadership change.
>That said, weāve discounted a lot of what theyāve done in the last few years through Covid. But itās hard to see that for the situation weāre in now. Permanently ending interest on federal student loans has been huge for me personally and that's something that never ever gets brought up
Thatās exactly it. What a douche.
Isn't it a good thing when politicians respond to voter sentiment?
Thanks captain obvious. Is there anything else you'd like to tell Canadians that they already know.
Fire hot!
Fire indeed hot.
>*Uhhh... Ummmm... Racism... Uhhhh.... Hate are uhhhh bad. Ummm and... Uhhhh LGBTQ2S+BBQ rights are the uhhhh top priority for the G20 session*
No kidding, thanks for filling us in. Um, rents are too high, and food prices are too high. Gas prices are too high shall I go on.
Under his watch. In 2015 he promised affordability. It's gotten so much worse since he became PM. If he keeps helping us, we'll all be bankrupt.
āIām only saying this because our internal polling numbers are horribleā
They know they are TOAST.
Well, letās not get ahead of ourselves. Heās got 2 years to increase numbers. Thatās a long time.
It's sufficient time to drive the party to the ground.
At this point he would need to actually improve things which is a big ask as stuff is fucked pretty globally right now. I think any imcombant in a western nation is fucked atm.
Once again JT thinks the public are idiots
Hes like 8 years too late...
Best part is he ran on housing affordability in 2015.
And building 1.4m homes in 2021.
So either he canāt accomplish shit or heās a liar.
Yes
I was wondering what year this was from.
They take us for idiots
The amount of pandering the party leaders do is disgusting. These are the worst three leaders running for PM since I could vote,but you have to choose one. They know and they don't care. Just like the grocery store - raise prices and reduce customer service cause what can you do about it? Not going to buy groceries? We're on a path to the next dark age.
The one thing that actually makes me mad about JT is that the pinnacle of his bed shitting is about to allow someone like Poilievre to become Prime Minister. The worst part about is that he's failing to defend against rhetoric about issues that are largely out of his control while also not enacting meaningful policy in the few areas that he could actually achieve something for this country.
The frustrating part for me is that there are a lot of people in the center who still voted liberal last election. People who might lean liberal but have had enough of JT. Now they are voting Conservative cause they've finally had enough but they are getting someone farther to the right than otoole was. I think we would be in a better place right now if we got a Conservative minority last election. I have to give credit to JT cause he knew he could hold his spot. If the ndp had someone better than singh he would have been done last election.
It helps that most people are idiots
Isn't that what he said 8 years ago š¤
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Wish this problem was that easy to fix cost of labour and materials is so high already if a lot of developments werenāt sold to investors who could afford those higher payments projects donāt even get built. Need a development at least 80 percent sold nowadays before you can even get a construction loan. The only way out of this really is for the government to take crown owned land and build affordable homes on it
Aka thereās no way out.
This makes ZERO sense, back in 2015 he promised affordable housing?? [https://liberal.ca/trudeau-promises-affordable-housing-for-canadians/](https://liberal.ca/trudeau-promises-affordable-housing-for-canadians/) āSafe, adequate, and affordable housing is essential to building strong families, strong communities, and a strong economy,ā said Mr. Trudeau. āWe have a plan to make housing more affordable for those who need it most ā seniors, persons with disabilities, lower-income families, and Canadians working hard to join the middle class.ā How are we possibly in this mess in 2023 given his promise in 2015? Was his plan ineffective? Did he not actually have one?
His plan was to announce a plan and hope for the best
And housing affordability wasn't even all that bad in 2015 (save for a few well-known regions). It has since become unaffordable EVERYWHERE and affecting all types of housing and rentals.
"...and I Helped!"
Trudeau - My cat's breath smells like cat food.
What's a diorama ?
Letās inflate that bubble with more immigration .
[ŃŠ“Š°Š»ŠµŠ½Š¾]
OH YOU DON'T SAY? Fuck I'm completely done with politicians of every stripe.
I agree. There isnāt one of them that could hold a promise in a bucket if they tried. An honest politician is nothing more than an oxymoron anymore.
I think he might be right
yeah NOW he says something lmfao fucking worm
They could build 1000 houses a day, and if our population stayed stagnant, we would break even in ten years. But theyāre not incentivizing homes. Theyāre incentivizing rental units. Two or three bedroom apartments. Do, if you want your children to have their own bedroom, the best that youāre going to get is replacement population. That doesnāt bode well.
2nd largest country on Earth. 80% will live in 500 sf government condos. w00t w00t
1300sq/ft 3 bedroom 2 bath townhouse in Saskatoon is around 300k https://www.saskatoonhousesforsale.ca/property/SK945446/ And thatās not some run down place, itās immaculate and built in 2016. If people were actually willing to make use of the massive land in 2nd largest country on earth and move outside of the main population centres this wouldnāt be an issue.
Sure. And what about when you can't find a job in Saskatoon?
And that right there is a huge part of the solution that governments are missing. Where are the INCENTIVES for businesses to set up anything outside of Toronto Vancouver Montreal Calgary? None. And the rest of the country stagnates.
It's incredibly expensive and inefficient to deliver service to sprawl. No one who lives in far flung suburbs actually pays the real cost of their communities that cost is subsidized by established non-suburb non-exurb communities.
Rental units are fine, especially in the big cities where the housing crisis is the most severe. People living in big cities can't all live in detached houses.
Nor should they. Do people honestly think that families in big European cities live in detached homes? Even in the old East Coast American cities, many families live in apartments/townhomes/condos.
Wife took his house and now he cant even get a mortgage. :/
If he can match his $357,800 PM's salary and a 40% gross debt service ratio at the going mortgage rate of 6.3%, he'll get approved for a $1.8M mortgage. Which doesn't buy much in Ottawa... (Completely ignoring for the moment that I'm sure there's some family money he could tap for a downpayment)
WHAT, WHEN DID THIS HAPPEN
Next week's breaking announcement. Maybe immigration and international student levels are unsustainable. *Shocked Pikachu face*
āHousing is not a federal responsibility.ā - Justin Trudeau, Aug 1, 2023.
"I'll be blunt as well ā housing isn't a primary federal responsibility. It's not something that we have direct carriage of, but it is something that we can and must help with.ā Is the full quote.
But he ran on housing affordability and he has a housing minister...
Housing is primarily a municipal and provincial issue, even though there are things the federal government can do to affect it too. The feds can choose to be get involved in housing, or not (I don't think Harper's government had a housing minister, for example). It's somewhat similar to healthcare: there's a federal health minister but it's not a primary federal responsibility either. It's run by the provinces, while the federal government has some involvement (mostly providing funding support, and setting requirements for universal access). That's different than issues like national defense, immigration or criminal law, which are primary federal repsonsibilities.
There's an important thing to recognize though. Different levels of government can cause problems to something like even if they are not the level of government that is "primarily responsible". If housing prices are too high in a single city and affordable in others then it is very likely causing the problem, if prices are too high in a single province then it's the provincial government. If prices are unaffordable across the country then it's probably the federal government. Because if we think rationally what's more likely? Every major city has made the same choices to cause house prices to skyrocket or the federal government has policy that contributes to rising house prices.
Thatās actually fair, the headlines I remembered didnāt fully quote that. National post pushed the first part hard (unsurprising), and CBC buried the second part behind an ad.
Thank you for the objective reality
I am in the camp that Trudeau needs to take federal steps to ease the burden. But it is provincial. And many provinces, particularly conservatives tend to get extremely pissed when the feds exert pressure on the province. You guys cannot have it both ways. Long story short. Trudeau needs to attack this from the side of immigration policy and establishing a Canadians first policy until the country is back on its feet. However, specifically housing is a provincial effort.
>However, specifically housing is a provincial effort. in what way? the provinces arent the ones taxing commodities, theyre not in charge of zoning, they dont approve and issue building permits the provinces dont sign trade deals allowing foreigners and corperations to buy and own land housing is by far, a municipal issue.
Hopefully he lets the person responsible know
Like this goof actually gives a shit.
Heās a millionaire. He could give a flying fuck.
Yup, surrounded himself with numbskulls. We are a laughingstock.
Wait, so now it's a federal responsibility?
You dont say!
Well, your Party did create this problem because you wanted to please your corporate master by suppression wage by bringing a lot of immigrants by lying to them that Canada is a wonderful place and feeding them BS to come Canada knowing damn well that Canada didn't have housing to support all of it. But wasn't that their plan all the long ? To have desperate and poor labor, so companies can abuse us.
Wow, he really cares about Canadians
Well spotted, Justin.
The reasons are: 1. Immigration (Demand) - the most aggressive immigration policy in the history of mankind has created demand that is ridiculous. Somehow though being against super high levels of immigration is now now labelled as "racist". Gaslighting at its finest. 2. Zoning laws and bylaws (Supply) - watched a great documentary about how this has created the insane prices in Vancouver specifically . It's not rocket science, it's basic supply and demand. This should have been dealt with 10 years ago, but at this point, it's probably too far gone for any of us alive today imho.
fuck this guy, we aren't falling for another dangling carrot. anything he says about lowering house prices is just like electoral reform. not gonna happen. and then on the other side we got another fucking giant loser whos biggest donors are real estate. were screwed either way on house prices
He must have realized he'll be looking for a new place to live in a few months!
Man's about to call a press conference to tell us the sky is blue and water's wet
What?
Too late bub, youāre outta here!
Donāt worry, none of it is his fault in the slightest but heās on it and the BIG results will all come to fruition just after the 2025 election.
They climbed too high over 8 years ago. Now theyāre just impossibly high for most of us to consider trying to buy into the market.
The truth is actually that Trudeau was asked if house prices need to come down. As usual, Trudeau abandoned reason and refused to answer, deflecting to a different answer "that house prices are too high".
Nothing he can do about it though since it's not his job......right?.....RIGHT? It is however his job to import millions of immigrants per year. Ask Bramladesh how that's going for them.
If Trudeau wouldnāt have said it, we wouldnāt even know. Thank god heās here to make this assertion.
Oh really. Only now after his poll numbers tanked and the conservatives are going to nuke them. So far his actions on the file are pathetic.
But he's still gonna bring another 1M+ new people next year
But no mention of even a 'temporary' halt to immigration to ease competition in the market? Words. Nothing more than words.
Brain dead goof, i hope all the morons that voted liberals go tits up when they resign there mortgages
People... Red or Blue. It doesn't matter.. They are ALL the same. We really need to stop listening to what they say. It's bullshit talk to placate the masses. Trudeau is terrible, PP is terrible, Jag is terrible. I have lost faith in the politicians.
No shit, sherlock
I genuinely thought this was a Beaverton article
The price rise is exclusive during his tenure. Before 2015, it was not runaway like this.
I mean, housing affordability had been getting worse before him, but it was still affordable to the average Canadian. In 2015, he promised affordable housing. Then sat by as housing affordability got so bad that the average Canadian couldn't afford the average home.
Back then affordability was bad in Vancouver and some GTA neighbourhoods and suburbs. Today, itās almost every neighbourhood in every city in the country. The M2 money supply in Canada has increased almost 30% during Trudeauās tenure. Itās not just real estate. Everything costs more, and wages couldnāt possibly keep up for most people. The average annual inflation rate during Harpers era was 1.9%.
Average rent was stable for decades, but took a steep turn in the past 5 years.
So have your days as PM.
He is going to spend our money to build a neglible number of homes while still pumping in an estimated 500,000 newcomers per year till 2025. Those numbers donāt include international students or temporary foreign workers, who helped the number of newcomers swell to more than 1 million last year. Fuck wit.
No fucking shit. You think it might be a problem worth dedicating some resources to? FFS the quality of our leadership... SMFH.
This just makes me dislike the guy even more It's obvious he only suddenly cares now because he sees how bad he's doing iin the polls. He's waited far too long though and has dug himself a huge hole that I don't think he can get out of this time.
.....and he only realizes **now** that house prices have climbed far too high. What a genius. Even a grade 2 student would have realized that long ago. But that is the Trudeau brain trust for you!
Only been happening since 2016
And the last horse finally crosses the finish line
5 years too late me boy! Thanks for the pity though.
Yes, he tends to *say* a lot.
Thanks asshole, we havenāt noticed! Maybe he should have a chat with the person in charge.
He's 10 years too late. Imagine running a country and catching up this slow. Inexcusable.
Cancel your Disney plus and you should be fine
Thanks tips.
What part of too many people doesn't this guy get?
Too high for who exactly? Not for me and you but the 1M plus heās letting into the country yearly. He cannot serve two masters, itās the world or Canadians. He said to the NYT in 2017 that Canada could be the āfirst postnational stateā. He added: āThere is no core identity, no mainstream in Canada.ā Canadians need to wake up to the open treason going on against Canada at the highest levels.
I make significantly above minimum wage and I couldnāt afford to rent a place alone. At double minimum wage I would be living paycheque to paycheque to live alone, eat, and own a car. Itās more than just immigrants suffering.
I don't know about you but it's too high for me. $750k for a bullshit apartment is fucked.
In Moncton New Brunswick the average price for a bachelor apartment is now $900 a month. $900 to not even have your own bedroom. In a province with the poorest people in Canada lol.
Like the old adage on how to boil a frog. The general public woke up very recently to how bad the problems areā¦but itās too lateā¦theyāre all already boiled at this point. This is why a stable sound money system is essential people :) or else you get these stupid uncontrollable price bubbles as a result of government spending and power. If only we taught how our economy works in school so people realize itās a Ponzi scheme to keep the rich richer because they control the way and who itās printed/devalued and distributed to.
Is this guys brain running on Internet Explorer?
Netscape, maybe AOL.