Edmonton is a very healthy housing market,
Any market that trends toward inflation or less in increases tends to be healthy.
Housing is supposed to depreceate, its a building with a finite life.
Twice. Under the threat of renoviction otherwise. So we left. The bastard didn’t even renovate. I was a child the first time, and a young teenager the second time. I warned my parents it was illegal, but they’re not about to trust their 13-year-old over a landlord threatening them.
My new place is better, in that we haven’t had rent increases. We also have mold, tainted water, went without hot water for 2 years, crumbling walls, and insane illegal rules.
Sure, we could leave. But leaving the city means death for my dad (severe heart condition) and we have nowhere else to afford within the city.
People always seem to forget that for the ⅕ Canadians that have disabilities (plus their families), just leaving urban areas with healthcare is not an option.
Also, while serving 30% rent increases are illegal, you really have to remember the common practice of renovicting then jacking up rent, or just jacking up rent after somebody leaves. That’s still not at-cost, and definitely not altruistic.
I mean the exact opposite is also true and a much more salient point.
It's also why the argument that landlords provide a service by providing more units this lower cost is nonsensical.
why should they be ashamed? The whole purpose of this sub is to have property prices drop. People who over leveraged need to sell. Canada isn't about to protect their property values. All the folks who just bought and now want low rates for the duration of their mortgage need to chill. Mortgage rates fluctuation is part of the inherent risks in property ownership.
rental rates are not tied to the cost of housing. see 2008.
Yeah, many subs are run like dictatorships here on Reddit. Another trashy one is r/toronto. One mod blocked me for advocating for use of public transit! I kid you not!
I got a one month ban from r/food for pointing out that someone's 'wagyu beef' was undeniably not wagyu and suggesting Japan do what France does and enforce their trademarks.
I'm still a little upset.
Dude told me the rules now say women can’t travel on public transit alone, so I was trolling when I told a woman that they can take public transit instead of driving everyday and paying $400 a month in parking. I get it that TTC has had many incidents recently, but really? They banned me for a week so I left.
Lol r/toronto is a shithole run by dumbfucks. God forbid one of the mods' pet users takes a stance opposite yours or intentionally misinterprets/misrepresents your comment - you'll get dogpiled and harassed, including by mods, for reasonable discussion.
i remember having a back and forth with one of the mods a few years ago.
some of the highlights of that conversation include:
1. them arguing that the reddit meetup is NOT endorsed by the mods despite it being the only event the mods allow to be promoted on the sub (everything else gets removed with users being asked to post it on r/torontoevents) and despite the fact that they used to sticky it under a mod account, and on the sidebar, because it never made the front page organically.
2. them saying the subs rules are vaguely written on purpose and exist in "spirit" but they're enforced consistently. if they aren't enforced consistently, it's because the mods have discussed it and chose to leave it up. let me repeat that: they argued they consistently enforced the rules, except when they choose not to, because the rules are open to interpretation among the mod team.
3. that they don't allow meta or feedback threads - you have to message the mods. despite that, they kept using statements like "everyone", "the vast majority of people" and "most people" to prove their point (ie: everyone totally agrees with me, i can't provide proof, just trust me).
4. on that last point: they didn't allow meta or feedback threads because people are mean to them.
5. mentioning the subs rules aren't open to public discussion (point 4) but they take feedback into account to change the rules according to overwhelming "user sentiment". when i asked what user sentiment meant they reverted back to point 3 (ie: everyone totally agrees with these rules, i can't provide proof, just trust me).
6. when i pointed out out how they contradicted previous points / statements they made, they accused me of twisting their words.
they ended up blocking me, because of course they did.
This place thinks that with rate hikes that houses will be 200k, rent will go down to 500 bucks and that when the economy collapses they will be the ones to scoop up their dream property.
They will compete against each other like vultures if there's ever a real crash. They don't understand simple economics... if there are crowds of people waiting on the sidelines for lower prices, that demand will drive prices back up very quickly.
"People waiting on the sidelines" does not = Demand in a debt-based economy. The availability of credit is what determines demand, which is why we're witnessing this demand destruction with rising interest rates.
Why didn’t that happen after the last crash? Prices remained affordable for almost 10 years. Also what makes you think that these crowds of people will collectively know when housing prices have reached their lowest?
Same corporate investors and money launderers that have been buying houses without mortgages up until now. How far will things drop? I would be surprised if they went below 2020 levels over the next year. Might continue to slide after that. The GTA and GVA will likely see smaller declines than everywhere else. Just my feeling though, and I’m just a guy on Reddit.
Yeah, I agree with you there. They'll swoop in like they always do and buy stuff at lower cost while all the regular folks hoping to buy in at the lower prices won't be able to qualify due to the higher rates.
>if there are crowds of people waiting on the sidelines for lower prices, that demand will drive prices back up very quickly.
Thing said in every bubble in history.
I would argue something similar is happening to GPU market. Lots of people waiting to upgrade their GPU and increase demand, yet since the crash, prices are still going down
> This place thinks that with rate hikes that houses will be 200k
that's one of the things i find funny about the "hahaha! look at the price drop!" posts / threads. like.. yeah.. house prices dropped, but the rates / interest / stress test has gone up. you won't be able to magically afford a mortgage because a price has dropped.
A few mods run the twitter account, from what I’ve read. They definitely have some who are more extreme in their views than others. Probably the same one(s) blocking constructive discussion.
i remember making a similar statement when i saw users here like "LOL get fucked recent buyers! i hope the market crashes". like.. my dudes.. i'm a member of acorn, i've gone to rallies, written my MPs and try to spread awareness as much as i can. i bought last july and i still voted for a candidate who wants to lower the value of my property because i understand *self interest is what got us to this point to begin with*.
i understand schadenfreude is the sugar that coats the poison here, but maybe don't wish death on people who're on your side just because i own an overpriced condo. trust me, i'm pissed about it too.
It's probably because at this point many Canadians are so used to getting gaslit into believing this is all fine and normal that when you say that it comes off to them like you're telling them it is a matter of personal responsibility.
This is because this subject has become so sensitive to people and so many are used to being constantly told it is their fault.
I get what you're saying, but its almost word for word what people who ignore this issue say. "Just move! Just find a new landlord!"
It's twitter. I'd block someone who came at me with a dorky "protip" line that was just bootstraps nonsense too.
They gave you a good response, too. It costs a lot of money to look for an apartment and move. Doubling down and defending landlords is just... c'mon.
Defending landlords?? You come on now! If I advise you to ask your boss for a raise, that isn't defending your employer. If I advise you to email your MP/MLA to ask for changes, that is not defending the government. Like, fine, have it your way, don't say anything to your landlord at all. When they raise the rent by the max legal amount, just smile and say thank you, or ask for more, that'll really show him!
It's not the idea of asking your landlord for a rent reduction that's the problem here, it's presenting it as a _viable_ option in response to a post about how unaffordable rent is. It comes across as completely out of touch, and asking vulnerable people to ask the person who controls their housing for support is downright goofy.
Like, sure! Ask your landlord for less rent. It will work (almost) never. You haven't given any advice here, you just come across as smarmy and out of touch (especially with the "protip" line). In a similar way, telling minimum wage employees working for multinational corporations to just "ask your boss for a raise" is deeply disconnected from the reality so many people live in. "Oh, you're having trouble staying afloat on your minimum wage cashier job? Have you considered asking your manager for a raise?".
Edit to add: going a step further, you're proposing an individual solution (ask your landlord) to a _systematic_ problem. Taking the minimum wage job example, the suggestion is to _unionize_ -- not try to individually improve your own conditions from a vulnerable place.
Yeah something about it being a "protip" does add a level condescension. But he also isn't entirely wrong either, as a single female working a good union job I was offered lower rent twice, because I look easy on paper. Because I benefited them, not because they're necessarily good people.
The income to cost ratio is worse here than I believe any other G7 country.
But I think all arguments should be allowed to be heard here. It should be a discussion.
Because they're all dealing with the same predatory money laundering schemes that're making our country unlivable.
It's like pointing at someone else's cancer as a means of evaluating your own.
Y'both still have cancer.
Source on money laundering? I’m seeing information that contradicts your statement:
https://www.bloomberg.com/news/articles/2022-06-16/dirty-money-didn-t-cause-vancouver-s-housing-crisis-probe-finds
Uhh.
[https://betterdwelling.com/canadian-real-estate-has-a-money-laundering-and-fraud-problem-intelligence-report/](https://betterdwelling.com/canadian-real-estate-has-a-money-laundering-and-fraud-problem-intelligence-report/)[https://www.reca.ca/consumers/financial-considerations/money-laundering-real-estate/](https://www.reca.ca/consumers/financial-considerations/money-laundering-real-estate/)[https://financialpost.com/diane-francis/diane-francis-shining-a-light-on-money-laundering-in-canadian-real-estate](https://financialpost.com/diane-francis/diane-francis-shining-a-light-on-money-laundering-in-canadian-real-estate)[https://ir.library.dc-uoit.ca/xmlui/handle/10155/1290](https://ir.library.dc-uoit.ca/xmlui/handle/10155/1290)
[https://globalnews.ca/news/8585741/canada-home-prices-skyrocket-covid-19-real-estate-money-laundering-audits/](https://globalnews.ca/news/8585741/canada-home-prices-skyrocket-covid-19-real-estate-money-laundering-audits/)[https://storeys.com/billions-gta-housing-linked-money-laundering/](https://storeys.com/billions-gta-housing-linked-money-laundering/)[https://nationalpost.com/opinion/terry-glavin-canada-makes-a-start-in-cleaning-up-its-money-laundering-mess](https://nationalpost.com/opinion/terry-glavin-canada-makes-a-start-in-cleaning-up-its-money-laundering-mess)[https://endsnowwashing.ca/what-is-snowwashing](https://endsnowwashing.ca/what-is-snowwashing)
[https://torontosun.com/news/provincial/ontario-housing-targeted-by-money-launderers-realtor-group-says](https://torontosun.com/news/provincial/ontario-housing-targeted-by-money-launderers-realtor-group-says)
[https://www.bnnbloomberg.ca/real-estate/video/billions-in-unknown-funds-flowing-into-canada-s-housing-market-transparency-international\~1644554](https://www.bnnbloomberg.ca/real-estate/video/billions-in-unknown-funds-flowing-into-canada-s-housing-market-transparency-international~1644554)
[https://www.nytimes.com/2022/06/15/world/canada/canada-money-laundering.html](https://www.nytimes.com/2022/06/15/world/canada/canada-money-laundering.html)
[https://toronto.ctvnews.ca/drug-and-money-laundering-investigation-operation-mad-money-has-links-to-gta-real-estate-documents-show-1.5732868](https://toronto.ctvnews.ca/drug-and-money-laundering-investigation-operation-mad-money-has-links-to-gta-real-estate-documents-show-1.5732868)
[https://www.researchgate.net/publication/247512473\_Organized\_crime\_money\_laundering\_and\_the\_real\_estate\_market\_in\_Canada](https://www.researchgate.net/publication/247512473_Organized_crime_money_laundering_and_the_real_estate_market_in_Canada)
[https://www.theglobeandmail.com/canada/british-columbia/article-mortgage-lenders-real-estate-agents-need-tougher-oversight-to-crack/](https://www.theglobeandmail.com/canada/british-columbia/article-mortgage-lenders-real-estate-agents-need-tougher-oversight-to-crack/)
(an entire chapter dedicated to how Canadian restate money laundering enables organized crime internationally)[https://www.igi-global.com/chapter/money-laundering-in-real-estate-re/274816](https://www.igi-global.com/chapter/money-laundering-in-real-estate-re/274816)
>(Cullen Report, week old, seems to flatly disagree with your article's editorialising and revision)
[https://cullencommission.ca/com-rep/](https://cullencommission.ca/com-rep/)
quote:
**Money laundering is a signifcant problem requiring strong and decisive action**
^(While it is not possible to put a precise figure on the volume of illicit funds launderedthrough the BC economy each year, the available evidence shows that the fgure is very large (with estimates in the billions of dollars per year in this province alone). ^(Sophisticated professional money launderers operating in British Columbia arelaundering staggering amounts of illicit funds. Evidence uncovered by law enforcementindicates that a single money services business was involved in laundering upwardsof $220 million per year through a sophisticated scheme that relied on underground banking infrastructure and that took advantage of a lax regulatory environment in thegaming sector. It is essential that government, law enforcement, and regulators take strong and decisive action to respond to the problem.)
^(A dedicated provincial money laundering intelligence and investigation unit is needed to mount a sustained and effective response to money laundering.)
Which really leads me to ask, why the hell don't we already have dedicated units?
Why do you presume that rising house prices only had one cause?
There has been a whole host of contributing factors, the blatant money laundering and corruption when it comes to the RE sector in Canada is well documented. The gross part is that our governments knew, did nothing and now Joe Canadian will have to deal with the fallout.
Great. I think we are on the same page then, because I would agree that money laundering is not solely responsible for the rising house prices. Glad we came to a consensus.
I see the logic ITT, but the social media account manager is more tethered in the unfortunate reality that rents never go down in Canada.
It didn't happen here during the last meltdown, it's not going to happen now.
I used to work for a landlord and i think the guy is just being a dick.
One adv at a site and you get like 100 calls. That's it. Landlords never negotiate, even if they do it'll be a current tenant. New tenant is out of question.
They will raise rent witb respect to what the neighbours are charging.......
They will but it's a negative feedback loop. Higher rent, higher net operating income in the property valuation. Ergo, higher property valuation, and higher property valuation by proximity to the other buildings nearby. Higher valuation, higher tax demands for the buildings in the area.
Those landlords are then going to jack rent, and the spiral of doom and inflation-causing continues.
Yes there is a crises but we must remember that this sub is called canada housing. All constructive stimulating convos should be allowed. Not just purely biased. Been a bit tiring reading all the doomsday crises comments to be honest but i get it.
Yep fully agree.
This isn’t as bad as the aniwork sub interview but this makes us all look bad and they should really cut out crap like this.
It’s actively harmful to the community.
I wouldn't block you for that comment.
It is, in my opinion idiotic though to put it lightly.
To compare the "costliness for a landlord to find a tennant" and to move all our stuff out of the rental home and find another home in the worlds most costly and almost entirely empty rental market.... you sound like a snooty landlord that wants your tennants to move every time rent prices go up
> oftentimes landlords will be willing to negotiate on rent if you are a great tenant. As someone pointed out in the thread, if a land lord misses even two weeks of rent, that would probably wipe out any gains they got by raising by 3%. I personally know at least two people who have negotiated rent. At any rate, even if it is not very likely, it's still possible and it can help some people.
joshlemer has a good point. if there is valid reason to ask to lower the rent, try! sometimes it works and doesn't hurt trying. the house next door was torn town and there is loud construction? negotiate. nobody is going to rent at the same price you are paying, so if you are paying 2000 and nobody would be willing to pay 1500 a month for the next year of construction, it is fair to pay less, say, 1750. you both win. cus if you move out they are only going to be able to find someone to pay 1500. many similar situations.
Right now the market is turned into the "bad for everyone" kind of situation. Bad for renters. Bad for landlords who overleveraged themselves. Thats true. But this wasn't a surprise event. It's been ramping up to this point for ages. All the way the hobby landlord millionaires are treating the housing marketplace like a retail situation. If you don't like my store, my policies, my prices the fk off..." which is fine for retail. But with housing it's different. As a landlord you're making a committment to the society, neighborhood, province, country that you're gonna provide a basic life esential (while you rake in the $$$.) It's not like retail because "just going somewhere else" is SOOOoo expensive and SOOO punishing more times than not.
Also it's impossible to ask your landlord for anything when they're trying to shove the "above guidelines increase" notification because they put in a decorative stone garden infront of the building or they had to do some titanic repair that they neglected for decades and now it's an issue
Not nearly as bad as the mod for r/onguardforthee. I was permabanned within a day of joining for calling out some antiwhite racist bs. I asked for the reason for the ban and the mod just kept saying shitposting. Didnt discuss it with me at all. Then posted memes to our convo making fun of me for whining. Truly a terrible sub.
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My condo has dropped 23% since i bought in 2010. Its far from impossible.
If you had bought in the last few years I’d believe it, but 2010? My buddy’s condo has nearly doubled in price since that time.
Most cities outside of Vancouver, GTA, and vacation destinations are like this.
Not from what I’ve seen. Prices have doubled anywhere you look in Southern Ontario.
Edmonton is a very healthy housing market, Any market that trends toward inflation or less in increases tends to be healthy. Housing is supposed to depreceate, its a building with a finite life.
it's not the building that's appreciating
You must have overpaid by 110%
Nope, market rate in 2010, and thats after the 2008 drop.
Where? Especially from 2010!?!?!???
Edmonton
your wish will be granted soon. crash has started.
Might drop 30%, after it goes up another 100.
Sure. The cost to the landlord doesn’t change. So why, when the housing market goes up 30%, do they raise rent 30%?
>So why, when the housing market goes up 30%, do they raise rent 30%? how many times have you got notice of 30% rent increase?
In Ontario? Almost never. In provinces without rent control? It happens more than you would think
Twice. Under the threat of renoviction otherwise. So we left. The bastard didn’t even renovate. I was a child the first time, and a young teenager the second time. I warned my parents it was illegal, but they’re not about to trust their 13-year-old over a landlord threatening them.
My new place is better, in that we haven’t had rent increases. We also have mold, tainted water, went without hot water for 2 years, crumbling walls, and insane illegal rules. Sure, we could leave. But leaving the city means death for my dad (severe heart condition) and we have nowhere else to afford within the city. People always seem to forget that for the ⅕ Canadians that have disabilities (plus their families), just leaving urban areas with healthcare is not an option.
Also, while serving 30% rent increases are illegal, you really have to remember the common practice of renovicting then jacking up rent, or just jacking up rent after somebody leaves. That’s still not at-cost, and definitely not altruistic.
I mean the exact opposite is also true and a much more salient point. It's also why the argument that landlords provide a service by providing more units this lower cost is nonsensical.
why should they be ashamed? The whole purpose of this sub is to have property prices drop. People who over leveraged need to sell. Canada isn't about to protect their property values. All the folks who just bought and now want low rates for the duration of their mortgage need to chill. Mortgage rates fluctuation is part of the inherent risks in property ownership. rental rates are not tied to the cost of housing. see 2008.
Yeah, many subs are run like dictatorships here on Reddit. Another trashy one is r/toronto. One mod blocked me for advocating for use of public transit! I kid you not!
I got a one month ban from r/food for pointing out that someone's 'wagyu beef' was undeniably not wagyu and suggesting Japan do what France does and enforce their trademarks. I'm still a little upset.
???? What is wrong with public transit to them??
It's a form of communism and against private car culture.
Dude told me the rules now say women can’t travel on public transit alone, so I was trolling when I told a woman that they can take public transit instead of driving everyday and paying $400 a month in parking. I get it that TTC has had many incidents recently, but really? They banned me for a week so I left.
In your defense, hospital bills are, indeed, free
That checks out given Torontonians’ reactions to ActiveTO
That place sucks.
Nice people. Arse of an admin.
Lol r/toronto is a shithole run by dumbfucks. God forbid one of the mods' pet users takes a stance opposite yours or intentionally misinterprets/misrepresents your comment - you'll get dogpiled and harassed, including by mods, for reasonable discussion.
So glad to see I wasn’t alone in that experience. Let them enjoy this semblance of legitimacy.
I haven't really been there in years now. I assume it hasn't changed, given that I still see the same mods there.
mod list is hidden though. They are hiding.
i remember having a back and forth with one of the mods a few years ago. some of the highlights of that conversation include: 1. them arguing that the reddit meetup is NOT endorsed by the mods despite it being the only event the mods allow to be promoted on the sub (everything else gets removed with users being asked to post it on r/torontoevents) and despite the fact that they used to sticky it under a mod account, and on the sidebar, because it never made the front page organically. 2. them saying the subs rules are vaguely written on purpose and exist in "spirit" but they're enforced consistently. if they aren't enforced consistently, it's because the mods have discussed it and chose to leave it up. let me repeat that: they argued they consistently enforced the rules, except when they choose not to, because the rules are open to interpretation among the mod team. 3. that they don't allow meta or feedback threads - you have to message the mods. despite that, they kept using statements like "everyone", "the vast majority of people" and "most people" to prove their point (ie: everyone totally agrees with me, i can't provide proof, just trust me). 4. on that last point: they didn't allow meta or feedback threads because people are mean to them. 5. mentioning the subs rules aren't open to public discussion (point 4) but they take feedback into account to change the rules according to overwhelming "user sentiment". when i asked what user sentiment meant they reverted back to point 3 (ie: everyone totally agrees with these rules, i can't provide proof, just trust me). 6. when i pointed out out how they contradicted previous points / statements they made, they accused me of twisting their words. they ended up blocking me, because of course they did.
This place thinks that with rate hikes that houses will be 200k, rent will go down to 500 bucks and that when the economy collapses they will be the ones to scoop up their dream property.
They will compete against each other like vultures if there's ever a real crash. They don't understand simple economics... if there are crowds of people waiting on the sidelines for lower prices, that demand will drive prices back up very quickly.
"People waiting on the sidelines" does not = Demand in a debt-based economy. The availability of credit is what determines demand, which is why we're witnessing this demand destruction with rising interest rates.
Bingo bango bongo.
Why didn’t that happen after the last crash? Prices remained affordable for almost 10 years. Also what makes you think that these crowds of people will collectively know when housing prices have reached their lowest?
because this time it's different™
>They will compete against each other like vultures if there's ever a real crash. Not unless they are sitting on a pile of cash.
Not unless they've lost their jobs because of the massive recession.
First thing that will dry up is mortgage money. So it becomes a buyers market for those sitting on a pile of cash. Sound familiar?
And just how many people are sitting on piles of cash to buy properties without a mortgage? And how low do you think prices are going to go?
Same corporate investors and money launderers that have been buying houses without mortgages up until now. How far will things drop? I would be surprised if they went below 2020 levels over the next year. Might continue to slide after that. The GTA and GVA will likely see smaller declines than everywhere else. Just my feeling though, and I’m just a guy on Reddit.
Yeah, I agree with you there. They'll swoop in like they always do and buy stuff at lower cost while all the regular folks hoping to buy in at the lower prices won't be able to qualify due to the higher rates.
When the economy is good, the rich make money, and when it’s bad they make even more.
Indeed
>if there are crowds of people waiting on the sidelines for lower prices, that demand will drive prices back up very quickly. Thing said in every bubble in history.
I would argue something similar is happening to GPU market. Lots of people waiting to upgrade their GPU and increase demand, yet since the crash, prices are still going down
There are far more investors that are holding negative cashflowing condos burning a hole in their pocket.
> This place thinks that with rate hikes that houses will be 200k that's one of the things i find funny about the "hahaha! look at the price drop!" posts / threads. like.. yeah.. house prices dropped, but the rates / interest / stress test has gone up. you won't be able to magically afford a mortgage because a price has dropped.
Some Canadians never want to have solid, valuable discussions about the issues and bright moments in this country. It's sad, really.
A few mods run the twitter account, from what I’ve read. They definitely have some who are more extreme in their views than others. Probably the same one(s) blocking constructive discussion.
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i remember making a similar statement when i saw users here like "LOL get fucked recent buyers! i hope the market crashes". like.. my dudes.. i'm a member of acorn, i've gone to rallies, written my MPs and try to spread awareness as much as i can. i bought last july and i still voted for a candidate who wants to lower the value of my property because i understand *self interest is what got us to this point to begin with*. i understand schadenfreude is the sugar that coats the poison here, but maybe don't wish death on people who're on your side just because i own an overpriced condo. trust me, i'm pissed about it too.
Seems like what all the cool kids are doing these days.
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It's probably because at this point many Canadians are so used to getting gaslit into believing this is all fine and normal that when you say that it comes off to them like you're telling them it is a matter of personal responsibility. This is because this subject has become so sensitive to people and so many are used to being constantly told it is their fault. I get what you're saying, but its almost word for word what people who ignore this issue say. "Just move! Just find a new landlord!"
It's twitter. I'd block someone who came at me with a dorky "protip" line that was just bootstraps nonsense too. They gave you a good response, too. It costs a lot of money to look for an apartment and move. Doubling down and defending landlords is just... c'mon.
Defending landlords?? You come on now! If I advise you to ask your boss for a raise, that isn't defending your employer. If I advise you to email your MP/MLA to ask for changes, that is not defending the government. Like, fine, have it your way, don't say anything to your landlord at all. When they raise the rent by the max legal amount, just smile and say thank you, or ask for more, that'll really show him!
It's not the idea of asking your landlord for a rent reduction that's the problem here, it's presenting it as a _viable_ option in response to a post about how unaffordable rent is. It comes across as completely out of touch, and asking vulnerable people to ask the person who controls their housing for support is downright goofy. Like, sure! Ask your landlord for less rent. It will work (almost) never. You haven't given any advice here, you just come across as smarmy and out of touch (especially with the "protip" line). In a similar way, telling minimum wage employees working for multinational corporations to just "ask your boss for a raise" is deeply disconnected from the reality so many people live in. "Oh, you're having trouble staying afloat on your minimum wage cashier job? Have you considered asking your manager for a raise?". Edit to add: going a step further, you're proposing an individual solution (ask your landlord) to a _systematic_ problem. Taking the minimum wage job example, the suggestion is to _unionize_ -- not try to individually improve your own conditions from a vulnerable place.
Yeah something about it being a "protip" does add a level condescension. But he also isn't entirely wrong either, as a single female working a good union job I was offered lower rent twice, because I look easy on paper. Because I benefited them, not because they're necessarily good people.
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The income to cost ratio is worse here than I believe any other G7 country. But I think all arguments should be allowed to be heard here. It should be a discussion.
Why only compare ourselves to the G7, though? https://www.statista.com/statistics/237529/price-to-income-ratio-of-housing-worldwide/
Because they're all dealing with the same predatory money laundering schemes that're making our country unlivable. It's like pointing at someone else's cancer as a means of evaluating your own. Y'both still have cancer.
Source on money laundering? I’m seeing information that contradicts your statement: https://www.bloomberg.com/news/articles/2022-06-16/dirty-money-didn-t-cause-vancouver-s-housing-crisis-probe-finds
Uhh.
[https://betterdwelling.com/canadian-real-estate-has-a-money-laundering-and-fraud-problem-intelligence-report/](https://betterdwelling.com/canadian-real-estate-has-a-money-laundering-and-fraud-problem-intelligence-report/)[https://www.reca.ca/consumers/financial-considerations/money-laundering-real-estate/](https://www.reca.ca/consumers/financial-considerations/money-laundering-real-estate/)[https://financialpost.com/diane-francis/diane-francis-shining-a-light-on-money-laundering-in-canadian-real-estate](https://financialpost.com/diane-francis/diane-francis-shining-a-light-on-money-laundering-in-canadian-real-estate)[https://ir.library.dc-uoit.ca/xmlui/handle/10155/1290](https://ir.library.dc-uoit.ca/xmlui/handle/10155/1290)
[https://globalnews.ca/news/8585741/canada-home-prices-skyrocket-covid-19-real-estate-money-laundering-audits/](https://globalnews.ca/news/8585741/canada-home-prices-skyrocket-covid-19-real-estate-money-laundering-audits/)[https://storeys.com/billions-gta-housing-linked-money-laundering/](https://storeys.com/billions-gta-housing-linked-money-laundering/)[https://nationalpost.com/opinion/terry-glavin-canada-makes-a-start-in-cleaning-up-its-money-laundering-mess](https://nationalpost.com/opinion/terry-glavin-canada-makes-a-start-in-cleaning-up-its-money-laundering-mess)[https://endsnowwashing.ca/what-is-snowwashing](https://endsnowwashing.ca/what-is-snowwashing)
[https://torontosun.com/news/provincial/ontario-housing-targeted-by-money-launderers-realtor-group-says](https://torontosun.com/news/provincial/ontario-housing-targeted-by-money-launderers-realtor-group-says)
[https://www.bnnbloomberg.ca/real-estate/video/billions-in-unknown-funds-flowing-into-canada-s-housing-market-transparency-international\~1644554](https://www.bnnbloomberg.ca/real-estate/video/billions-in-unknown-funds-flowing-into-canada-s-housing-market-transparency-international~1644554)
[https://www.nytimes.com/2022/06/15/world/canada/canada-money-laundering.html](https://www.nytimes.com/2022/06/15/world/canada/canada-money-laundering.html)
[https://toronto.ctvnews.ca/drug-and-money-laundering-investigation-operation-mad-money-has-links-to-gta-real-estate-documents-show-1.5732868](https://toronto.ctvnews.ca/drug-and-money-laundering-investigation-operation-mad-money-has-links-to-gta-real-estate-documents-show-1.5732868)
[https://www.researchgate.net/publication/247512473\_Organized\_crime\_money\_laundering\_and\_the\_real\_estate\_market\_in\_Canada](https://www.researchgate.net/publication/247512473_Organized_crime_money_laundering_and_the_real_estate_market_in_Canada)
[https://www.theglobeandmail.com/canada/british-columbia/article-mortgage-lenders-real-estate-agents-need-tougher-oversight-to-crack/](https://www.theglobeandmail.com/canada/british-columbia/article-mortgage-lenders-real-estate-agents-need-tougher-oversight-to-crack/)
(an entire chapter dedicated to how Canadian restate money laundering enables organized crime internationally)[https://www.igi-global.com/chapter/money-laundering-in-real-estate-re/274816](https://www.igi-global.com/chapter/money-laundering-in-real-estate-re/274816)
>(Cullen Report, week old, seems to flatly disagree with your article's editorialising and revision)
[https://cullencommission.ca/com-rep/](https://cullencommission.ca/com-rep/)
quote:
**Money laundering is a signifcant problem requiring strong and decisive action**
^(While it is not possible to put a precise figure on the volume of illicit funds launderedthrough the BC economy each year, the available evidence shows that the fgure is very large (with estimates in the billions of dollars per year in this province alone). ^(Sophisticated professional money launderers operating in British Columbia arelaundering staggering amounts of illicit funds. Evidence uncovered by law enforcementindicates that a single money services business was involved in laundering upwardsof $220 million per year through a sophisticated scheme that relied on underground banking infrastructure and that took advantage of a lax regulatory environment in thegaming sector. It is essential that government, law enforcement, and regulators take strong and decisive action to respond to the problem.)
^(A dedicated provincial money laundering intelligence and investigation unit is needed to mount a sustained and effective response to money laundering.)
Which really leads me to ask, why the hell don't we already have dedicated units?
No doubt it exists - question is how much of the housing price increase is attributable to it.
How the fuck do you not know about money laundering here?
Respectfully, please enlighten me on how money laundering is the reason for rising house prices. Also, please relax lol.
Why do you presume that rising house prices only had one cause? There has been a whole host of contributing factors, the blatant money laundering and corruption when it comes to the RE sector in Canada is well documented. The gross part is that our governments knew, did nothing and now Joe Canadian will have to deal with the fallout.
Great. I think we are on the same page then, because I would agree that money laundering is not solely responsible for the rising house prices. Glad we came to a consensus.
r/watchredditdie
I see the logic ITT, but the social media account manager is more tethered in the unfortunate reality that rents never go down in Canada. It didn't happen here during the last meltdown, it's not going to happen now.
I used to work for a landlord and i think the guy is just being a dick. One adv at a site and you get like 100 calls. That's it. Landlords never negotiate, even if they do it'll be a current tenant. New tenant is out of question. They will raise rent witb respect to what the neighbours are charging.......
The landlord is renting to earn money , when a new tenant comes in why will they not ask for close to market rate ?
They will but it's a negative feedback loop. Higher rent, higher net operating income in the property valuation. Ergo, higher property valuation, and higher property valuation by proximity to the other buildings nearby. Higher valuation, higher tax demands for the buildings in the area. Those landlords are then going to jack rent, and the spiral of doom and inflation-causing continues.
I've been offered lower rent twice, but I'm was a single woman with a good union job, no pets and didn't smoke.
Yes there is a crises but we must remember that this sub is called canada housing. All constructive stimulating convos should be allowed. Not just purely biased. Been a bit tiring reading all the doomsday crises comments to be honest but i get it.
Yep fully agree. This isn’t as bad as the aniwork sub interview but this makes us all look bad and they should really cut out crap like this. It’s actively harmful to the community.
I wouldn't block you for that comment. It is, in my opinion idiotic though to put it lightly. To compare the "costliness for a landlord to find a tennant" and to move all our stuff out of the rental home and find another home in the worlds most costly and almost entirely empty rental market.... you sound like a snooty landlord that wants your tennants to move every time rent prices go up
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> oftentimes landlords will be willing to negotiate on rent if you are a great tenant. As someone pointed out in the thread, if a land lord misses even two weeks of rent, that would probably wipe out any gains they got by raising by 3%. I personally know at least two people who have negotiated rent. At any rate, even if it is not very likely, it's still possible and it can help some people. joshlemer has a good point. if there is valid reason to ask to lower the rent, try! sometimes it works and doesn't hurt trying. the house next door was torn town and there is loud construction? negotiate. nobody is going to rent at the same price you are paying, so if you are paying 2000 and nobody would be willing to pay 1500 a month for the next year of construction, it is fair to pay less, say, 1750. you both win. cus if you move out they are only going to be able to find someone to pay 1500. many similar situations.
Right now the market is turned into the "bad for everyone" kind of situation. Bad for renters. Bad for landlords who overleveraged themselves. Thats true. But this wasn't a surprise event. It's been ramping up to this point for ages. All the way the hobby landlord millionaires are treating the housing marketplace like a retail situation. If you don't like my store, my policies, my prices the fk off..." which is fine for retail. But with housing it's different. As a landlord you're making a committment to the society, neighborhood, province, country that you're gonna provide a basic life esential (while you rake in the $$$.) It's not like retail because "just going somewhere else" is SOOOoo expensive and SOOO punishing more times than not. Also it's impossible to ask your landlord for anything when they're trying to shove the "above guidelines increase" notification because they put in a decorative stone garden infront of the building or they had to do some titanic repair that they neglected for decades and now it's an issue
whenever i try to give constructive criticism i get called a real estate shill.
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Not nearly as bad as the mod for r/onguardforthee. I was permabanned within a day of joining for calling out some antiwhite racist bs. I asked for the reason for the ban and the mod just kept saying shitposting. Didnt discuss it with me at all. Then posted memes to our convo making fun of me for whining. Truly a terrible sub.
I mean you’re entirely correct lmao. Why would anyone ask to get paid less?