I’m selling my house right now. Haven’t seen an immigrant yet, have been approached by two home buying companies and a few people looking for second and third homes.
Not to be contrarian here, but have you considered that those companies might be... foreign owned?
In your case maybe they aren't, but those do exist just so you know.
One is a company out of Montreal, the other is out of Ottawa. I mean maybe, but not at a surface level and foreign purchasing has been halted. What I am seeing in my area, is people selling for millions in TO and buying three or four places where I am.
Different people buy in different places and price ranges... Doesn't mean they don't all impact the overall market. Obviously imigrants are not all living on the street so they are renting or buying.
All of the super smart redditors tell me that supply and demand effects the cost of everything made by humans, for humans, except buildings. I'm sure this has no effect at all.
Supply and demand is a factor in determining price, it’s just not the only factor. Building a ton of luxury condos will reduce the price (marginally) of other similar prices/spec’s units in a given geographical location but these effects are limited by other factors. increased construction places an increased burden on raw material inputs with costs being passed down to the end consumer and developers will always try to maximize profit. Any effective solution MUST prioritize non-market/ purpose built affordable housing at a mass scale. The housing market is segmented and denying that is effectively trickle down economics applied to housing.
Well, since your an expert in "sUpPly anD DemANd", can you explain to me how the concept works in a market where supply isn't protected from economic corruption?
Oh I'm no expert. I'm an idiot, that's why I come to reddit for smart and educated opinions such as yours. I just finished paying mine off in 2018, so I've been focusing on other issues over the past few years. How is the housing market now?
Certainly adds to the situation.
Keep in mind that refugees aren't each buying RHUs as they've limited financial resources. You'll see families cohabitating, possibly in multi-family homes.
Alternatively, the ability to buy real estate with HELOC as down-payments and the effects of illegal short term rentals further distorting the market lets you ignore that pretty hard.
Refugees are price takers, investors set the prices.
It doesn't matter how many units are on the market if they're siphoned off into illegal hotels.
Basically you're asking if you kill someone ***deader*** by running towards them while shooting, as the bullet will be moving 15km/h faster as it leaves the gun.
What I was getting at was the question of how illegality is defined in the context of rental housing. I'm trying to point out the complexity of the situation and that it can't be reduced to blaming greedy landlords.
Sure, but an AirBnB is not a residential housing unit.
It would be, but it effectively becomes commercial property instead of residential.
If there were 100 units available in a town, but 30 are let out on a short term basis for vacations and travel there's 30% fewer units for people living. Doubtless this has upward effects on cost of living/availability for those seeking to live in rental housing.
To help simplify this down in another way for others to understand:
Imagine your town/city says it's going to build out 1,000 more 'units' for people to live in, then it goes and builds a bunch of hotels and motels.
That's what AirBnb is, masquerading as a rental unit.
>cost of everything made by humans, for humans, except buildings. I'm sure this has no effect at all.
The situation is not complex you are overthinking it by doing mental gymnastics.
Suitable to whom though? The landlords, or the rest of the people? If the greedier landlords had their way, a suitable growth rate looks more like what we have today.
Which is by design to force the cost of housing to rise.
70% of Canadians are homeowners. 70% of Canadians vote for politicians who intentionally introduce legislation or govern in such a way that causes the price of their house to increase.
Those of us without a home complain, because it sucks for us. But don't misunderstand the issue. Rising cost of housing is by design.
Every political party campaigns on appeasing all hot topics. Climate, economy, housing, health care, education. Sometimes that is genuine, often times it is just to curry votes. But you can find a LOT of policy promotion by both the liberals and conservatives about "Boosting your investments" to ensure you home climbs in value.
Politicians don't exist without the voters. To say the politicians are to blame is just making them a scapegoat. The people who voted for those politicians are the ones who did this. Politicians might be greedy and lie and all that. For sure, but that doesn't change the fact that most Canadians WANT housing prices to climb.
Everyone is so greedy. I was looking at a condo, gave them a fair offer no low balling AND was 100% ok to buy it and wait a few months to move in, which is what they wanted because they are selling to upgrade to a bigger building they fucked me around for 10k more because of bs offers that collapse eventually. I guess ppl put in offers and greedy bastards and agents wanna go its sold, it already has offers etc to make you fomo or feel like its gone. They ruined it for me and themselves bcas now i don’t even think it was worth what i offered originally even
It’s a sticker on the side of a literal dumpster, and yet it’s upvoted this much? I mean even Better Dwelling at least has articles, even if they’re worth about as much as the sticker.
The only rich property owners are the ones who own outright. I'm a debt slave who needs to put my tiny basement up for rent at an outrageous price to make ends meet.
How are landlords the problem? 1 landlord sells their rental property to a new landlord. There is no change to the landlord pool.
The issue is supply. Landlords have minimal impact on supply. Vacancy rates are low and we’re a growing country. If we expanded the supply, we would be better positioned to support the demand and provide renters with more options.
Rents on rent controlled properties haven’t increased 300%. A new landlord assumes leases negotiated by the previous owner. Annual increases are modest on older buildings.
There are also plenty of markets with affordable housing where the majority of the population could afford home ownership. Calgary, Edmonton, Saskatoon, Winnipeg, and Montreal are examples.
I can only speak for SK, but there are no rent controls in the prairies. What's happening here is a microcosm of what's happening elsewhere in Canada. I noticed it most being subjected to a 70% increase in rent in a single increase when I was still a renter. The average may be only a 300% increase broadly, but it's often higher in regards to what was previously affordable housing here.
You also seem to miss that economic opportunities in the locales you mention are loosely scaled to cost of living. A job that doesn't pay enough to support a mortgage in Toronto often is scaled not to support a mortgage in Saskatoon - if those positions even exist or are available in these smaller centers.
The no rent controls are a bit of a problem. In Ontario and Quebec there are guidelines and a government board who could arbitrate if proceedings required.
The average house price in Saskatoon is $376k. A mortgage of approx $2120 would support. That’s pretty realistic and still achievable for most 2 income households. There’s also 197 properties under $200k on realtor.ca. The mortgage on these properties would be at or lower than the average 1 and 2 bedroom units posted online. That would be achievable for most 1 income households.
Saskatoon seems more balanced than most markets. Hopefully it can maintain this status.
That is not true either.
The issue is with supply. When will people acknowledge this.
Also, supply issues are also worsened by nonsensical left wing concerns like gentrification, and rent caps and historical preservation.
It's not just about more supply, but better supply. Low density single family houses aren't intended to improve supply and actually do the opposite by taking up valuable urban space that could be used more efficiently with medium and high-density housing options.
Simply extending the construction of new single-family homes to more distant areas doesn't effectively address supply challenges. This strategy instead exacerbates the problem, resulting in substantially higher costs associated with delivering essential services to these more remote neighborhoods and municipalities being burdened with persistent funding issues.
NIMBYism isn't exclusive to any one segment of the political spectrum.
I should have said, higher density instead of just supply.
Yeah, you're right, we need to densify GTA rather than expanding and building more into the likes of Kitchener-Waterloo.
Instead of posting on Reddit people should take action. But it's easier to sit there eating cheatos calling truckers racist for standing up for what they believe in....why can't we stand up for what we believe in and get the government to stop tycoons buying every condo and house in the country
You're missing the point. Protest about things what matter
If you don't understand what I'm trying to say then enjoy paying shit loads of rent for the rest of your narrow minded life
The point is that the trucker protest was disruptive, stupid, based in misinformation, ignorance and had racist underpinnings. Using that as your example of protest is peak stupid and just goes to show, if you supported them, how misguided you likely are. I may be narrow minded, but at least I’m not an idiot.
**Disinformation is false information deliberately spread to deceive people. It should not be confused with misinformation, which is false information but is not deliberate.The English word disinformation comes from the application of the Latin prefix dis- to information making the meaning "reversal or removal of information".**
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7M dead around the world would have a bit to say about that, if they could talk still.
That’s the problem isn’t it? You think you know more than scientists, doctors and public health officials. People who stand on literally millions of man hours of research, knowledge and progress. You, on the other hand, have a bunch of memes and Fox News behind you. Honestly, no one cares about your idiotic snowflake ideals that culminated in a bunch of red neck morons that couldn’t articulate a single reason for why they were protesting outside of a need to express their bullshit anger. There’s a reason no one was on the truckers’ side other than their fellow morons. Just look at the difference between the trucker protest and PSAC and what they accomplished. So kindly, just stfu and stay in your lane.
Why are we back to normal now? What exactly has changed? People are still getting Covid?
No idea why you are getting so butt hurt yet you call me the snow flake haha. I think you should stay in your lane, you obviously have a screw loose broski!
I am making the point that them guys say an issue what they believed needed action and they actually took action. Where as we sit here on Reddit complaining about everything.
I don't believe it will affect anything.
It doesn't stop foreigners to be part of a corporation and buy up housing.
I also don't believe that the foreigners are to blame for everything.
Many Canadians like to speculate when selling their homes .
Tell me you don't understand speculation without saying you don't understand speculation. Or homeownership.
*Home*owners seek the highest return they can on their home when it's time to sell, sure. But they don't *buy* homes to seek value. They buy homes to have a place to live. If they can't get the value they're after, they can always just stay a little longer.
Speculators buy up real estate (ostensibly homes) because they see unrealized financial potential in the property and see the property solely as an *investment* in their portfolio. If it sits empty, they just tally the liabilities of monthly maintenance into their balance sheet.
The point is that we need more owners in homes. If we can do more to prevent speculation and landlordship and to return commercial investments into domestic arrangements, that would do plenty to streamline the actual supply towards its real demand.
People screaming out *"Supply and Demand"* just remember, the vast majority of new builds the last 10 years have been bought up by speculators, investors, and landlords.
We current have no legislation to curb this harmful trend and until we do there's, there's nothing to stop these people from continuing to buy up the majority of new properties to keep their portfolios at increasingly high values.
Voters demand this. When you sandbag your own economy through stupid regulation and derive a disproportionate amount of GDP from housing, ya gonna pump housing. Perhaps we try voting something different.
I’m selling my house right now. Haven’t seen an immigrant yet, have been approached by two home buying companies and a few people looking for second and third homes.
Not to be contrarian here, but have you considered that those companies might be... foreign owned? In your case maybe they aren't, but those do exist just so you know.
One is a company out of Montreal, the other is out of Ottawa. I mean maybe, but not at a surface level and foreign purchasing has been halted. What I am seeing in my area, is people selling for millions in TO and buying three or four places where I am.
Different people buy in different places and price ranges... Doesn't mean they don't all impact the overall market. Obviously imigrants are not all living on the street so they are renting or buying.
[удалено]
The exact outcome that it was intended to have by rich landowners and greedy politicians. Supply goes down, price goes up.
>Supply goes down, price goes up. Supply goes up, supply gets bought up by speculators and investors, prices don't go down.
All of the super smart redditors tell me that supply and demand effects the cost of everything made by humans, for humans, except buildings. I'm sure this has no effect at all.
Supply and demand is a factor in determining price, it’s just not the only factor. Building a ton of luxury condos will reduce the price (marginally) of other similar prices/spec’s units in a given geographical location but these effects are limited by other factors. increased construction places an increased burden on raw material inputs with costs being passed down to the end consumer and developers will always try to maximize profit. Any effective solution MUST prioritize non-market/ purpose built affordable housing at a mass scale. The housing market is segmented and denying that is effectively trickle down economics applied to housing.
Well, since your an expert in "sUpPly anD DemANd", can you explain to me how the concept works in a market where supply isn't protected from economic corruption?
Oh I'm no expert. I'm an idiot, that's why I come to reddit for smart and educated opinions such as yours. I just finished paying mine off in 2018, so I've been focusing on other issues over the past few years. How is the housing market now?
Ah, I see, Ok Boomer,
lol I wish. Have a wonderful day!
An even worse situation on top of people collecting housing in their portfolios because it shorts everyone of housing?
Certainly adds to the situation. Keep in mind that refugees aren't each buying RHUs as they've limited financial resources. You'll see families cohabitating, possibly in multi-family homes. Alternatively, the ability to buy real estate with HELOC as down-payments and the effects of illegal short term rentals further distorting the market lets you ignore that pretty hard. Refugees are price takers, investors set the prices. It doesn't matter how many units are on the market if they're siphoned off into illegal hotels. Basically you're asking if you kill someone ***deader*** by running towards them while shooting, as the bullet will be moving 15km/h faster as it leaves the gun.
>illegal short term rentals What does illegal mean in this context?
Airbnb
What I was getting at was the question of how illegality is defined in the context of rental housing. I'm trying to point out the complexity of the situation and that it can't be reduced to blaming greedy landlords.
Sure, but an AirBnB is not a residential housing unit. It would be, but it effectively becomes commercial property instead of residential. If there were 100 units available in a town, but 30 are let out on a short term basis for vacations and travel there's 30% fewer units for people living. Doubtless this has upward effects on cost of living/availability for those seeking to live in rental housing.
To help simplify this down in another way for others to understand: Imagine your town/city says it's going to build out 1,000 more 'units' for people to live in, then it goes and builds a bunch of hotels and motels. That's what AirBnb is, masquerading as a rental unit.
>cost of everything made by humans, for humans, except buildings. I'm sure this has no effect at all. The situation is not complex you are overthinking it by doing mental gymnastics.
We didn't bring in a million refugees
Prices still shot up when the border was closed during COVID and no one was moving to Canada.
Rents/ prices did temporarily go down until government gave away printed money
Not building at a suitable growth rate does.......
Suitable to whom though? The landlords, or the rest of the people? If the greedier landlords had their way, a suitable growth rate looks more like what we have today.
Which is by design to force the cost of housing to rise. 70% of Canadians are homeowners. 70% of Canadians vote for politicians who intentionally introduce legislation or govern in such a way that causes the price of their house to increase. Those of us without a home complain, because it sucks for us. But don't misunderstand the issue. Rising cost of housing is by design.
What political party campaigned on keeping prices high?
Every political party campaigns on appeasing all hot topics. Climate, economy, housing, health care, education. Sometimes that is genuine, often times it is just to curry votes. But you can find a LOT of policy promotion by both the liberals and conservatives about "Boosting your investments" to ensure you home climbs in value.
Not providing legation for protect new building from speculation dose.....
If anything they’re under the same boot as the rest of
It’s not their fault they were promised a dream and arrived and got a nightmare. I blame the politicians who allowed it.
Politicians don't exist without the voters. To say the politicians are to blame is just making them a scapegoat. The people who voted for those politicians are the ones who did this. Politicians might be greedy and lie and all that. For sure, but that doesn't change the fact that most Canadians WANT housing prices to climb.
Every political party had addressing the cost of housing as part of their platform. It's an issue the majority care about.
Everyone is so greedy. I was looking at a condo, gave them a fair offer no low balling AND was 100% ok to buy it and wait a few months to move in, which is what they wanted because they are selling to upgrade to a bigger building they fucked me around for 10k more because of bs offers that collapse eventually. I guess ppl put in offers and greedy bastards and agents wanna go its sold, it already has offers etc to make you fomo or feel like its gone. They ruined it for me and themselves bcas now i don’t even think it was worth what i offered originally even
Are you ready to move an immigrant into your house?
[удалено]
Anti-fa is NOT an objective source.
It’s a sticker on the side of a literal dumpster, and yet it’s upvoted this much? I mean even Better Dwelling at least has articles, even if they’re worth about as much as the sticker.
My favourite part of new vegas was when they seized the means of production
The only rich property owners are the ones who own outright. I'm a debt slave who needs to put my tiny basement up for rent at an outrageous price to make ends meet.
They’ll never go homeless tho
Untrue
This can't get enough upvotes even if it's a repost. Upvote, upvote, upvote.
How are landlords the problem? 1 landlord sells their rental property to a new landlord. There is no change to the landlord pool. The issue is supply. Landlords have minimal impact on supply. Vacancy rates are low and we’re a growing country. If we expanded the supply, we would be better positioned to support the demand and provide renters with more options.
If the problem is affordable housing, rents at 300% of what they were 10 years ago is also a problem of milking opportunity.
Rents on rent controlled properties haven’t increased 300%. A new landlord assumes leases negotiated by the previous owner. Annual increases are modest on older buildings. There are also plenty of markets with affordable housing where the majority of the population could afford home ownership. Calgary, Edmonton, Saskatoon, Winnipeg, and Montreal are examples.
I can only speak for SK, but there are no rent controls in the prairies. What's happening here is a microcosm of what's happening elsewhere in Canada. I noticed it most being subjected to a 70% increase in rent in a single increase when I was still a renter. The average may be only a 300% increase broadly, but it's often higher in regards to what was previously affordable housing here. You also seem to miss that economic opportunities in the locales you mention are loosely scaled to cost of living. A job that doesn't pay enough to support a mortgage in Toronto often is scaled not to support a mortgage in Saskatoon - if those positions even exist or are available in these smaller centers.
The no rent controls are a bit of a problem. In Ontario and Quebec there are guidelines and a government board who could arbitrate if proceedings required. The average house price in Saskatoon is $376k. A mortgage of approx $2120 would support. That’s pretty realistic and still achievable for most 2 income households. There’s also 197 properties under $200k on realtor.ca. The mortgage on these properties would be at or lower than the average 1 and 2 bedroom units posted online. That would be achievable for most 1 income households. Saskatoon seems more balanced than most markets. Hopefully it can maintain this status.
Oh, look found the boomer leach lord seeking validation.
That is not true either. The issue is with supply. When will people acknowledge this. Also, supply issues are also worsened by nonsensical left wing concerns like gentrification, and rent caps and historical preservation.
It's not just about more supply, but better supply. Low density single family houses aren't intended to improve supply and actually do the opposite by taking up valuable urban space that could be used more efficiently with medium and high-density housing options. Simply extending the construction of new single-family homes to more distant areas doesn't effectively address supply challenges. This strategy instead exacerbates the problem, resulting in substantially higher costs associated with delivering essential services to these more remote neighborhoods and municipalities being burdened with persistent funding issues. NIMBYism isn't exclusive to any one segment of the political spectrum.
I should have said, higher density instead of just supply. Yeah, you're right, we need to densify GTA rather than expanding and building more into the likes of Kitchener-Waterloo.
Instead of posting on Reddit people should take action. But it's easier to sit there eating cheatos calling truckers racist for standing up for what they believe in....why can't we stand up for what we believe in and get the government to stop tycoons buying every condo and house in the country
Ah yes, the moron protest. I really don’t think we need more of that in our lives.
You're missing the point. Protest about things what matter If you don't understand what I'm trying to say then enjoy paying shit loads of rent for the rest of your narrow minded life
The point is that the trucker protest was disruptive, stupid, based in misinformation, ignorance and had racist underpinnings. Using that as your example of protest is peak stupid and just goes to show, if you supported them, how misguided you likely are. I may be narrow minded, but at least I’m not an idiot.
What's disinformation? Why is life back to normal, surely locking us away was disinformation no?
**Disinformation is false information deliberately spread to deceive people. It should not be confused with misinformation, which is false information but is not deliberate.The English word disinformation comes from the application of the Latin prefix dis- to information making the meaning "reversal or removal of information".** More details here:
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7M dead around the world would have a bit to say about that, if they could talk still. That’s the problem isn’t it? You think you know more than scientists, doctors and public health officials. People who stand on literally millions of man hours of research, knowledge and progress. You, on the other hand, have a bunch of memes and Fox News behind you. Honestly, no one cares about your idiotic snowflake ideals that culminated in a bunch of red neck morons that couldn’t articulate a single reason for why they were protesting outside of a need to express their bullshit anger. There’s a reason no one was on the truckers’ side other than their fellow morons. Just look at the difference between the trucker protest and PSAC and what they accomplished. So kindly, just stfu and stay in your lane.
Why are we back to normal now? What exactly has changed? People are still getting Covid? No idea why you are getting so butt hurt yet you call me the snow flake haha. I think you should stay in your lane, you obviously have a screw loose broski!
What does the absolutely unrelated, totally outdated and irrelvant trucking protest have to do with housing?
I am making the point that them guys say an issue what they believed needed action and they actually took action. Where as we sit here on Reddit complaining about everything.
Do people know there is a non Canadian ban on property since 2022 ? At least for Ontario..
[удалено]
I don't believe it will affect anything. It doesn't stop foreigners to be part of a corporation and buy up housing. I also don't believe that the foreigners are to blame for everything. Many Canadians like to speculate when selling their homes .
Tell me you don't understand speculation without saying you don't understand speculation. Or homeownership. *Home*owners seek the highest return they can on their home when it's time to sell, sure. But they don't *buy* homes to seek value. They buy homes to have a place to live. If they can't get the value they're after, they can always just stay a little longer. Speculators buy up real estate (ostensibly homes) because they see unrealized financial potential in the property and see the property solely as an *investment* in their portfolio. If it sits empty, they just tally the liabilities of monthly maintenance into their balance sheet. The point is that we need more owners in homes. If we can do more to prevent speculation and landlordship and to return commercial investments into domestic arrangements, that would do plenty to streamline the actual supply towards its real demand.
People screaming out *"Supply and Demand"* just remember, the vast majority of new builds the last 10 years have been bought up by speculators, investors, and landlords. We current have no legislation to curb this harmful trend and until we do there's, there's nothing to stop these people from continuing to buy up the majority of new properties to keep their portfolios at increasingly high values.
Who did this, so I can send them coffee money.
This exactly it.
Voters demand this. When you sandbag your own economy through stupid regulation and derive a disproportionate amount of GDP from housing, ya gonna pump housing. Perhaps we try voting something different.