PM Justin Trudeau's Canada

[Richard White]

https://twitter.com/x/status/1776604910722637939

The irony is that this is what prevents most people from buying a house.

When a person is spending more than 50% of their take home income on housing costs, they are deemed high risk. I was actually told by Real Estate Agents that I would likely not be approved for a mortgage if more than 50% of my monthly income goes towards a house.

 

[kEiThZ]

What is annoying is the association with "Trudeau". We don't live in a centralized economy. I bought a 1,200 sq.ft. apartment in downtown Toronto in 2001 for $229,000 and resold it for $110,000 more 6 years later. Our hated PM wasn't in power then.

First, they are talking about what happened on this government's watch and the anger voters have over this issue.

Next, they the gain you had is less relevant than affordability which is the statistic they are discussing. I'm going to guess your Gen X self never paid anything close to the percentage of your income in rent or mortgage that young people do today.

 

[kEiThZ]

What I'm saying is blaming the government for supply and demand issues is ridiculous.

How so? They control the levers of demand and supply. Who sets immigration policy? Who sets banking policy? Who sets tax policy for assets like homes?

 

[DirectionNorth]

Maybe if people stopped purchasing $800K one-bedrooms, things would get better. I would be more willing to blame the lack of investment in social housing ("affordable" housing as currently defined is hardly affordable), and the govt doesn't set monetary policy other than the general guideline of keeping inflation low.

How do you stop purchasing homes? Should we also stop paying rent? People have to live in something.

The federal government doesn't control the Bank of Canada (thank goodness), but they do control immigration and idiotic policies like the FHSA.

When Trudeau said on April 2nd that immigration was too high, I did a double take - who does the LPC think set immigration levels?

 

[picard102]

Should we also stop paying rent?

I'm down for a rent strike.

 

[kEiThZ]

Maybe if people stopped purchasing $800K one-bedrooms, things would get better.

You don't seem to understand why those condos are $800k. Do you get how supply and demand works? What do you think happens when we combine population growth of 1M per year with a quarter million homes being built nationally and two decades of low rates (even today's rates are lower than the 90s)?

 

[kEiThZ]

I'm down for a rent strike.

If you think housing is bad now, just wait till you see what happens when people stop investing entirely in housing.

 

[kEiThZ]

When Trudeau said on April 2nd that immigration was too high, I did a double take - who does the LPC think set immigration levels?

And then they offered up a token cut that will take three years to reduce the ratio of temporary residents. They aren't even talking absolute numbers.

I dunno if Galen Weston personally gave Trudeau a briefcase full of cash or a Bitcoin wallet with millions, but that's the only possible explanation I can think of, for this government's absolute insistence on high immigration at all costs. Including while youth unemployment is rising.

 

[evandyk]

People can’t exactly stop securing housing, and if an 800,000 one bedroom is the best option, they’ll take it. You can rent for cheaper, but then you’re giving up huge tax favouritism (basically, your second retirement account sheltered from any taxes) so it may not be cheaper long term.

 

[picard102]

If you think housing is bad now, just wait till you see what happens when people stop investing entirely in housing.

Is that when we riot and eat the rich?

 

[kEiThZ]

Another problem with the flood of students is the national security risk. We might have let in assassins on student visas.

Suspect in killing of temple leader Hardeep Singh Nijjar got student visa in ‘days’ | Globalnews.ca

Karan Brar obtained a visa in 2019 to study for eight months at Calgary's Bow Valley College.

globalnews.ca

 

[afransen]

I wouldn't discount the possibility of social unrest/less than fully peaceful demonstrations.

 

[Northern Light]

I wouldn't discount the possibility of social unrest/less than fully peaceful demonstrations.

I wouldn't either.........but as a side note, do remember to hit 'reply' when replying to a post..........in this case, I assume, the post to which you are replying is only 2 up from yours......but its always better if one can be sure about such things.

 

[slickpete83]

1)we should try this again
2)plus we should do what they do in USA , when you build a building and sell it , you don't pay capital gains tax as long as you invest it into another real estate within a certain time and lastly
3) we need 30 year fixed mortgage terms like they have in the USA, better for planning your life

 

[slickpete83]

I dunno if Galen Weston personally gave Trudeau a briefcase full of cash or a Bitcoin wallet with millions, but that's the only possible explanation I can think of, for this government's absolute insistence on high immigration at all costs. Including while youth unemployment is rising.

^hahaha...., he gave some gift cards so he can save on groceries in Ottawa.
interesting news came out that NDP Jagmeet brother &or cousins are lobbyists for competition Metro grocery store, which would explain why Jagmeet is always going after Loblaws lol...