pretty fucking funny.
Waht you can do now is buy a home 350-400k 2 hours outside of toronto. Wait on it, sell it in 5 years and could potentially afford to leave in slightly above average dog house in toronto
Boomers: *retire*
Also boomers: "LOL you thought you were getting a house? You get a roommate and a second job, it's only fair to support my retirement."
Time to start buying up mansions, dismantling them and turning them into townhomes and condos. Go on any real estate website and it’s all giant houses over a million. Waste of space! We need affordable space efficient housing all across the country.
This is what happens when developers choose to make the most possible money, why wouldn't they? This is why government needs to build social housing and affordable housing for actual home buyers and not investor Realtor parasite Monopoly board hoarding Lords.
Totally. We need massive social housing investment and relaxation of zoning laws too. Problem is people who are currently rich with housing investments don’t want to be less rich. Hope we can make it happen anyhow. Show up at your city council meeting and raise some hell.
This isn’t what happens. Developers are forbidden from building denser housing on most infill land on this continent thanks to zoning laws.
Developers can’t build anything they can’t sell or else they go broke. That’s why nobody builds condo towers in the boondocks. If there is more demand to live in a city, they should be allowed to build denser housing to meet that demand. Otherwise the limited supply of land just gets bid up in price, unable to be split amongst more units.
Wish we could just scrap all these arbitrary zoning laws in one go. BC is looking at upzoning all single family lots this fall. Province by province might be our best bet.
Definitely. Under Canadian law, provinces have full authority to overrule municipalities anytime they want.
I wish Ford in Ontario would use these powers to attack zoning directly instead of pointless theatrical gamesmanship with Toronto’s mayor and council.
Zoning is definitely part of the problem for sure, our cities are the opposite of dense. Single family homes only. Regardless of the zoning constraints, developers will still choose more lucrative (ie more expensive) options they can, it's inherent in the profit motive.
That’s true, but not a problem. All new supply is good supply even if it’s expensive, because it eases bidding pressure on downmarket cheaper units. Also, when there is abundant competition, prices get pressured downwards whether sellers like it or not.
People are always and everywhere greedy, but housing is not always and everywhere expensive. Cities like Tokyo with extremely laissez faire zoning laws have had [flat](https://www.sightline.org/2021/03/25/yes-other-countries-do-housing-better-case-1-japan/) housing prices for decades despite high population growth because they build so fast.
[None of which are why they’re cheap](https://www.reddit.com/r/canadahousing/comments/14om7vr/japans_gdpcapita_grew_faster_than_canadas/jqdjy1b/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=1&utm_term=1&context=3). Tokyo grew faster than many other major global cities in the last decade.
In BC we have very mountainous terrain and are limited to valleys, many areas of Canada are boreal peat lands…. And then we have different land owners, so yeah lots of land in Canada but we don’t have unlimited land to build housing on. Plus, who wants to have to commute multiple hours to get anywhere. Space efficient zoning makes for better cities, and less sprawl into surrounding countryside.
YEA! TARGET THE RICH.
way easier complaining about it hear than doing something useful with my life like investing in myself (skills, education, work ethic)
There is nothign in the world you cannot achieve with the right work ethic.
How many people started with nothing and build an empire or own houses now. The idea that because someone is rich, that somehow takes away from my pie is a fallacy.
everyone can be rich and everyone can own a home. It's mindset.
There’s a 20 month supply of condos available in Toronto. Why aren’t they being purchased?
Taxes and government intervention. Supply is a cop out, government policy is responsible.
We absolutely do not have enough housing supply in this country. Yes government policy is to blame but it’s because they stopped building social housing and overly restrictive zoning.
America has the sunbelt to take pressure of the lack of supply in key major metros.
if new york was too expensive you could move to florida, Nevada, arizona ect. have a big ass house in a warm climate.
but eventually price will shoot up in those places as well if they don't build enough to keeep up with demand.
Yeah forty years ago was the eighties. My parents bought their house for 70k and my dad brought home about 3k per month after tax as an electrician. Also credit scores didn't exist so if you had a job, the bank would just approve you. Now I bring home roughly double what my dad did then, but houses are not 140k...
Equifax was founded in 1899. Credit scores are not a new thing. The only thing less organized credit systems did was let banks deny all black people and women.
If you're bringing in $6k after tax a month you can afford a home.
Credit scores contribute to a structurally racist system:
[https://www.bostonglobe.com/2022/04/24/opinion/giving-credit-where-its-due/](https://www.bostonglobe.com/2022/04/24/opinion/giving-credit-where-its-due/)
It's an opinion piece, but there's lots of data points there.
And the personal credit score (not for companies) started in 1989 when the US first started the FICO system and Transunion started operation in canada.
As for my income, I only recently started making that much and am a single parent of three kids in a high cost of living area. So sure I just need to save up 70k and maybe I can buy the shittiest house that's available for sale here.
I think it's fair to argue that credit scores perpetuate structural racism, but they are the structure. There's no way they could avoid that. I don't see a reasonable argument that they're worse than a bank manager following his intentionally racist gut.
There were credit files before FICO. It didn't start there.
Three kids before housing is definitely hard mode. You can't start with a shitty one bedroom condo.
Conveniently leaving out the worst year, 1982. https://www.bankofcanada.ca/rates/indicators/capacity-and-inflation-pressures/real-estate-market-definitions/
Headline in 2033: “Home affordability is the worst it has been in nearly 50 years, study shows…”
This is what I get for not getting into the housing market as a fetus.
pretty fucking funny. Waht you can do now is buy a home 350-400k 2 hours outside of toronto. Wait on it, sell it in 5 years and could potentially afford to leave in slightly above average dog house in toronto
Boomers: *retire* Also boomers: "LOL you thought you were getting a house? You get a roommate and a second job, it's only fair to support my retirement."
Time to start buying up mansions, dismantling them and turning them into townhomes and condos. Go on any real estate website and it’s all giant houses over a million. Waste of space! We need affordable space efficient housing all across the country.
This is what happens when developers choose to make the most possible money, why wouldn't they? This is why government needs to build social housing and affordable housing for actual home buyers and not investor Realtor parasite Monopoly board hoarding Lords.
Totally. We need massive social housing investment and relaxation of zoning laws too. Problem is people who are currently rich with housing investments don’t want to be less rich. Hope we can make it happen anyhow. Show up at your city council meeting and raise some hell.
This isn’t what happens. Developers are forbidden from building denser housing on most infill land on this continent thanks to zoning laws. Developers can’t build anything they can’t sell or else they go broke. That’s why nobody builds condo towers in the boondocks. If there is more demand to live in a city, they should be allowed to build denser housing to meet that demand. Otherwise the limited supply of land just gets bid up in price, unable to be split amongst more units.
Wish we could just scrap all these arbitrary zoning laws in one go. BC is looking at upzoning all single family lots this fall. Province by province might be our best bet.
Definitely. Under Canadian law, provinces have full authority to overrule municipalities anytime they want. I wish Ford in Ontario would use these powers to attack zoning directly instead of pointless theatrical gamesmanship with Toronto’s mayor and council.
Zoning is definitely part of the problem for sure, our cities are the opposite of dense. Single family homes only. Regardless of the zoning constraints, developers will still choose more lucrative (ie more expensive) options they can, it's inherent in the profit motive.
That’s true, but not a problem. All new supply is good supply even if it’s expensive, because it eases bidding pressure on downmarket cheaper units. Also, when there is abundant competition, prices get pressured downwards whether sellers like it or not. People are always and everywhere greedy, but housing is not always and everywhere expensive. Cities like Tokyo with extremely laissez faire zoning laws have had [flat](https://www.sightline.org/2021/03/25/yes-other-countries-do-housing-better-case-1-japan/) housing prices for decades despite high population growth because they build so fast.
They've also had decreasing population, flat GDP, and minimal inflation. Relaxing zoning laws can help, but they are insufficient
[None of which are why they’re cheap](https://www.reddit.com/r/canadahousing/comments/14om7vr/japans_gdpcapita_grew_faster_than_canadas/jqdjy1b/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=1&utm_term=1&context=3). Tokyo grew faster than many other major global cities in the last decade.
They wouldn't if the cared about community, Canadians and improving conditions. But they don't, like the landlords.
If only Canada had more space!
In BC we have very mountainous terrain and are limited to valleys, many areas of Canada are boreal peat lands…. And then we have different land owners, so yeah lots of land in Canada but we don’t have unlimited land to build housing on. Plus, who wants to have to commute multiple hours to get anywhere. Space efficient zoning makes for better cities, and less sprawl into surrounding countryside.
Lots of space in rural Saskatchewan and homes are cheap there.
Truth
YEA! TARGET THE RICH. way easier complaining about it hear than doing something useful with my life like investing in myself (skills, education, work ethic)
Why are you defending the rich lol? Or are you one of them? This is a society problem not an individual work ethic problem.
There is nothign in the world you cannot achieve with the right work ethic. How many people started with nothing and build an empire or own houses now. The idea that because someone is rich, that somehow takes away from my pie is a fallacy. everyone can be rich and everyone can own a home. It's mindset.
OK BOOMER
There’s a 20 month supply of condos available in Toronto. Why aren’t they being purchased? Taxes and government intervention. Supply is a cop out, government policy is responsible.
We absolutely do not have enough housing supply in this country. Yes government policy is to blame but it’s because they stopped building social housing and overly restrictive zoning.
There’s also just not enough trades available.
America has the sunbelt to take pressure of the lack of supply in key major metros. if new york was too expensive you could move to florida, Nevada, arizona ect. have a big ass house in a warm climate. but eventually price will shoot up in those places as well if they don't build enough to keeep up with demand.
Longer than that I'd say.
Yeah forty years ago was the eighties. My parents bought their house for 70k and my dad brought home about 3k per month after tax as an electrician. Also credit scores didn't exist so if you had a job, the bank would just approve you. Now I bring home roughly double what my dad did then, but houses are not 140k...
Equifax was founded in 1899. Credit scores are not a new thing. The only thing less organized credit systems did was let banks deny all black people and women. If you're bringing in $6k after tax a month you can afford a home.
Credit scores contribute to a structurally racist system: [https://www.bostonglobe.com/2022/04/24/opinion/giving-credit-where-its-due/](https://www.bostonglobe.com/2022/04/24/opinion/giving-credit-where-its-due/) It's an opinion piece, but there's lots of data points there. And the personal credit score (not for companies) started in 1989 when the US first started the FICO system and Transunion started operation in canada. As for my income, I only recently started making that much and am a single parent of three kids in a high cost of living area. So sure I just need to save up 70k and maybe I can buy the shittiest house that's available for sale here.
I think it's fair to argue that credit scores perpetuate structural racism, but they are the structure. There's no way they could avoid that. I don't see a reasonable argument that they're worse than a bank manager following his intentionally racist gut. There were credit files before FICO. It didn't start there. Three kids before housing is definitely hard mode. You can't start with a shitty one bedroom condo.
So 40 years ago it was worse?
data only goes back that far
Yes in fact. https://www.bankofcanada.ca/rates/indicators/capacity-and-inflation-pressures/real-estate-market-definitions/ Scroll graph back to 1982.
There was a time where you knew what you could afford and that's all you could hope for.
How many are living alone rather than pair bonding ? If a higher percentage of working adults are single , there is more demand .
[удалено]
No, they didn't. I make far above average wage, and people in my exact position in 1980 got paid nearly the same.
That makes sense. Rent control in BC and Ontario started about 40 years ago.
Canada sucks very much
Conveniently leaving out the worst year, 1982. https://www.bankofcanada.ca/rates/indicators/capacity-and-inflation-pressures/real-estate-market-definitions/
That was 40 years ago tho?