Many Canadians are struggling to maintain up with hovering rents and actual property costs.
The Trudeau authorities is focusing on housing affordability as a key precedence in its funds.
However consultants marvel if the federal government can flip its plans into actuality. David Akin studies.
For more information, please go to https://globalnews.ca/information/8743554/canada-budget-2022-housing-affordability-supply-foreign-buyers/
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No.
The moral of the story is "you will own nothing, and you will be happy:)"
Make 40k and rent overpriced apartment, make 35k as a shareholder and own 17 rental properties that all lose money and the CRA views these people as the same. See Richmond BC where homes are worth 2-4 million and everyone claims abject poverty and receives massive social benefits. Toronto where homes are about 2-3 million and 54% are claiming abject poverty. Does this make sense to any of you? Do you view any Toronto property owner as "poor"? The CRA does and showers them with social child benefits, dental benefits, eye benefits, etc, etc…
Will the government deliver its promises? Lmfao no.
a revamp on real estate sales laws would help. considering if i add a reno cost to my purchase price…. i now offer OVER the value and this is actually what is driving the prices up so much. Why? Because the selling price is what is listed…. not the actual sale value which would actually be the listed value MINUS the renos added and technically i would also have to MINUS the extra sales tax the seller eats in order to incite the sale by accepting a higher offer…but only receiving the original list value. Kick back to seller incentive. So… now my 1,000,000 home that sold for 1.25 actually only sold for 750 k minus what i ate in extra sales tax. so … the value received compared to list was LESS… not more. It's all wrong. the values are inflated. Over valued badly.
And we are at a breaking point. NO ONE can actually afford to buy a place and the rents have gotten rediculous to the point where people working full time can't afford to even live in a home. yup… live in Canada. Work 40 hrs a week…. and live in your car anyways. Such a nice life we have here. And people wonder why people that have the ability to leave are doing just that. That's my intention. I have Absolute ZERO intention of retiring here. Why would I? I can sell my place and go live someplace else and have tons left over and live very well in a more affordable country where prices are realistic. And no… i'm not giving up a whole lot either. All you gotta do is look. Prices are too high. for everything.
Over 600,000 documented foreign students and their families are exempt from foreign buyer 2 year ban so no effect on lowering prices? Check facts foreign students and family members are allowed to buy Canadian real estate what for or who benefits who knows.
Entrust in the financial wisdom and cosmic powers of Trudeau's male feminism.
According to Trudeau's boss Klaus Schwab by 2030 ," you will own nothing and be happy ".
Wow..buddy has jerseys with his name on the back framed and hanging on the wall. Guess we know who he plays for.
Hey Liberals.. I'm still waiting for the two billion trees planted that you promised.
Hey Liberals Where is the clean drinking water for everyone in Canada that you promised?
Hey Liberals. How about not taxing our taxes? Has anyone else noticed the carbon tax gets taxed GST?
I'm going to say 20ish years ago shortly after the TD and Canada Trust merger, I met with a mortgage broker who was from TD to see what I could expect to receive and what price range I should be looking in. She was from the TD branch that was moved over, was incredibly rude the entire meeting and she pretty much told me that if I wanted to get a mortgage of any size I needed to get married. She did not seem happy when I asked if she had a hot daughter that will not end up looking like her to sacrifice to my want to be a home owner, I was so disgusted by that treatment I pulled my business from TD and will never use them again.
just raise the prime rate like they did in the early 80's and it will all reset again.
And what about single folks like me who are renting right now? It mentioned soaring rents in the description but Trudeau doesn't talk about that at all…what are we, chopped liver?…on second thought, no, we're not chopped liver…people tend to pay attention to that…
The Rental Market's been hell too…I'm facing a renoviction right now (only the owner's covering that up and saying it's because of something that happened 5 damn years ago..)
The government signed onto UN agendas to increase population density. Essentially, they are making housing unaffordable to push people into apartments. This is all political theatre, and these people have zero interest in solving the problem they created.
The immediate solution is to reduce demand by cutting immigration targets. Less demand would create surplus, and prices would drop. They will increase immigration instead.
And the recession worsens
The Left will inevitably ruin everything. They are a cancer. They slowly eat away at the foundational values until they are crippled or gone. Eventually they destroy society.
The dirty money is here to stay. Students, permanent residents, refugees, anyone from anywhere with a work visa. They will become the new primary vehicles for laundering proceeds of drug crime into our real estate market
Does anyone really think they had ever planned to? The Ukraine needs support, but its tough to understand where all that money is coming from, when there was never any available to help at home.
As a Canadian, I know that anything has changed in Canada in the past 30 years or will change in Canada in the future. Canada in the last 30 years. Canada has become a stagnant country, always living in the past with Liberal and Conservative political actors without any political desire for radical changes to get Canada out of what has always been a rich but underdeveloped country living in the past. After living in Asia for almost a decade and returning to Canada recently, my vision for returning to Canada in 2021 is to go back in time, there have been no changes to indicate that Canada has a vision for the future. Which has led me to make the decision to return to Asia at the end of 2022
To solve housing all the government has to do is get out of the way.
Not one dollar has to be spent, the market incentive is already there.
Just remove the red tape for developers, make the crown land available for sale. Yes, new housing in the GTA isn't realistic, every inch of land is built on. But that is not the case for many other cities. Time to pick a new hub and develop it. Also, stop building over southern ontario farmland, there isn't much of it left, and it is some of Canada's best land for growing crops.
CMHC needs to stop lending mortgage money to flippers.
capitalism is the crisis, anyone who claims to have solutions is just a con artist promising unicorns and rainbows, its simple, the more capitalism, the more inequality and corruption.
This is just for optics and anybody falling for these tricks is out of their mind. The 40k tax free saving account is a joke and insult. They allow a max of 8k a year. Every year the price of houses far, far, outweighs any tiny tax benefit. How much tax will you save if you write off 8k a year, 500 bucks? How much interest do you get for putting 8k in that account, 5 bucks? 50 bucks? How much will houses go up during that time, 50k or 100k. This is a joke and anybody who praises these deliberately designed half measures designed to trick people into thinking they are doing something while in fact they are just insulting people's intelligence and adding insult to injury, needs to examine their thought process.
Also, the foreign owner ban allows for primary purchases by foreign owners, what kind of ban is that? You are banned but can still buy 1 house. It also doesn't ban ferrari driving so called students who are already buying a dozen houses apiece, or those who use dummy corporations, again, nothing is being done to prevent these dummy corporations from being set up just to buy residential properties.
It also doesn't ban corporations from buying houses en masse, or developing apartments that are for rental purposes and limiting the supply for first time buyers looking for a condo.
Also, there should be a limit of 1 investment property for domestic speculators, or at least a progressive tax on each additional property. This bill does nothing to deal with domestic speculators.
Instead, they are going to tax condo assignment sales. Condo assignment sales are not driving up prices, they are an option for people whose job situation changes and are forced to desperately sell, but now they want to impose heavy taxes and inflict heavy losses on ordinary hard working Canadians who buy their first preconstruction condo and lose their job and are forced to assign sell their condo.
These anti Canadian measures are unacceptable.
Fug a u trudope
They won't. Everything has become WORSE since Blackface took office and it's not gonna change.
it wont work it's to far gone and out of reach for the average joe
Canadian's are having trouble putting food onthe table because of overtaxation, never mind buying a home!
It is called "being intelligent and recognizing what you can and cannot afford". If a couple is married and have only one minimalist income coming in, then starting a family might not be a good idea if the economical requirements for a family cannot be met. Plain and simple. If the economics are ignored ….THEN DON'T START COMPLAINING ABOUT AFFORDABILITY!!! PLAIN AND SIMPLE.
If you decide to start a family regardless of the affordability, then it is YOUR responsibility to figure out what you have to do to make things work. Don't look to the rest of the world to figure out what is YOUR problem ….and this is exactly what many people are doing these days …..blaming the rest of the world for their own inability to make things work.
RENT has very little to do with any government. This is a "landlord" issue first …..THEN look at the rental supply. If people are renting because they don't want to own their own residence, or don't want to plan and save for their own residence, then that's on them and those that are in the same boat.
Before I met my wife, I was already SAVING MONEY. I did not know WHAT I would need the money for at the time. I just needed to be able to have some financial security. When I met my wife, we discovered we were BOTH doing the same thing …..SAVING MONEY …..just to have some FINANCIAL SECURITY. THOSE SAVINGS HELPED TO BUY OUR FIRST HOUSE ….and we then dealt with the mortgage …..which was 7% ……NOT TODAY'S 2%.
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I live with my parents because I am ok with living with them. I am 22 and we have several houses. I could move into one by myself if I wanted to and knew how to take care of myself.
👽👻🌈
Even though the homes are listed under my parents' names and not mine, I can act like I am an official owner too.
❄☁️☠
I don't know how to care for myself completely, but I could live with our renters in any of our houses I want.
👻🫐🔮
What about you?