"Their entire lives paying for" lololol. My parents bought their house in Victoria for 11K in the early 70s. Mom didn't work, dad had a very "ordinary" paying job. House was completely paid for in about 5 years. They have been mortgage free for decades. Boohoo. The house would seel for at least 1.5M now (and that is just for the property - the house is bulldozer bait).
@lindaboos4518 20 hours ago I do not think that the goal here is to blame seniors Canada, like many countries, took their eye off of the ball with regards to housing. Instead they have followed the advice of 1990’s politicians, leaving housing IN THE HANDS OF THE MARKETS. I emphasize that because it rolls off the tongue so easily that it does not strike us the way it should. The housing situation in Canada, prior to the 1990’s was on the radar at every level of government. What we understood back then was the importance of everyone having a place to call home - regardless of income. Governments worked to provide affordable housing to people through a variety of programs. Those programs died in the 1990’s. The people who needed those programs have not gone away. The people who need such programs are everywhere today. Evictions, renovictions, and encampments are everywhere. The Market does not care about this. The Market exists for some people to make profit, and others to bear the burden of that profit. Check out the television programs encouraging and teaching people ways to profit off of becoming a landlord. Many of these people drawn to this already own a home. They just want another one to make profit from by renting to tenants who, in this market can easily be charged twice the amount it should go for. These homeowners can easily leverage their existing home to buy the second property. Banks will happily lend the money to homeowners. Then maybe that same home owner buys a third, fourth, fifth property because the bank is okay with this. These landlords make wealth by buying ‘boxes’ and allowing people to live in them at an enormous cost. These landlords create NOTHING. They do NOTHING for their wealth. They use money to make money. Period. As for the seniors, and others who have owned homes over the past decade or more, it has been like they have won a lottery. Each and every one of them owns a home AND has won a lottery of sorts. Now they believe their home is actually worth what the Market says it is worth. The greed of the Market says it is, so it must be so. What has transpired in our economy and around the world in general is that everything is being driven by greed - plain and simple. Can we please stop with denying this or looking the other way? Can we think about others and how they are faring in all of this? Can we start by really leaning into and learning about our politics and simply doing our civic duty? If there is one thing that many seniors get right is that they get out and vote. They help elect into power the politicians who support their point of view. If you want change, do your civic duty. VOTE!
this generation is so jealous of boomers and our houses with white picket fences... since all you all can do is complain about us , I'll make sure to sell it to a large corporation instead of a complainer who puts us down...
@@dr.johnnyfever9194 Your handle, (WKRP) suggests you are probably a boomer, and grew up in the 60-70's when people could buy a house for $20,000 and a family car was just $5K. I would agree with you that wages have gone up since 1970, but the cost of living has skyrocketed much faster. It is easy for a Boomer to tell everyone how easy life is.. just buy a house for 20K no big deal man....get a job.. etc..etc. I would laugh at you hysterically if someone suggested we cut your pension payments in half. I wonder what you might say? People in glass houses shouldn't throw stones eh? I guess you'd argue you worked hard for that pension, so nobody can take it from you... etc. The opportunities you enjoyed in your adult lifespan are truly amazing. I think you did work hard for your pension, and the things you have accumulated. But I think you'd have more empathy for people younger than you, if you could imagine being in their shoes. Back in the 70's you probably had a good factory job, a good income, and the cost of living was cheap. I remember my Dad filling up his large Dodge Satellite with $5 of gas for the week. LOL. Try doing that today when gas is nearly $2 per L. But, I know how to speak your boomer language. Free market economy right? Fine. Using your logic, and it is good practical logic, lets get the government to lower the protections for telecom companies. We should open the economy up for free market competition. Let all the other global companies build networks here and compete for Canadian Consumer's money. If Rogers wants to charge $100/mo, and Eurotel is offering the same service for $20, then I guess Rogers better compete and lower prices... or go out of business. That is honestly the tough Boomer mentality being put out there honestly and fairly. Not telling some broke Gen Z kid he needs to have four part time jobs instead of 3, while as a boomer you sit at home enjoying your retirement cheque. If my guess is right and you are a Boomer, I bet you remember good old Simpson-Sears? Remember that company was huge and had the tallest building in the world as it's headquarters. Remember too big to fail? I vaguely remember Sears, Eatons... those huge stores are gone now because they refused to compete with Walmart and other companies that were allowed into the economy.
maybe we are in a situation that you cannot vote your way out of. But you know they do respect violence. They assume they have the monopoly on violence, but the governments no longer represent the people they are illegitimate. maybe voting isn't that effective and is used to coax you into deradicalized inaction. become the reactionary conservative they want you to be, comment away to vent your heart out and go quietly into the night..... JK join your local nazzis! Fugk a derad Like fires in the forest we rise whether they ask to or not!
It was suicidal and it started a long time ago, throwing all this money into real estate just created the biggest real estate bubble ever created in the history of mankind. But unfortunately people's greed has been uncontrollable, often when I talk to people they look at me with a big smile and tell me that they have become millionaires because they think their houses are worth millions. The reality is that this is not the case... But by the time they do, it will be too late.
Rent control discourages land owners from constructing new affordable housing. Rent control is the reason why condos are being constructed instead of affordable housing. Because condos do not have rent control.
Can’t afford to buy…..you mean can’t afford to RENT….wtf is going on with our society when a young person who has a minimum wage job can’t live anywhere???
The problem is rent control laws.. Rent control discourages land owners from constructing new affordable housing. Rent control is the reason why condos are being constructed instead of affordable housing. Because condos do not have rent control.
@WR-NC-ASPL This is not the case in NS. There's no rent control and affordability is "out the window". NIMBYs are halting nearly all development, and landlords are jumping rent in leaps and bounds.
I have been building homes for 25 years and cannot find a decent paying job. Any offers I do receive are for the wage I earned 20 years ago. We're all being played.
nope you should have to be married. women shouldn't be able to divorce men take his earnings and house just to sell it and buy a new one for themselves. Women only wanted jobs so they more easily abandon their families and get divorces and run away their responsibility and not make real sacrifices. Why are you alone? You couldn't find a nice White guy? Or you think you deserve a prince yourself? if you aren't producing for your people, you are parasiting off of them while holding many false assumptions about how we actually got here. You are a product of a family and nation and race. You choose not to honor them by not continuing the legacy set out for you by your common forefathers... You choose to be a single women not finding a good man. Why should the system honor you, when you don't honor your own? Our people are our most valuable resource, not the amount of workers imported into an economic zone... If we can't take care of our own, how can we take care of the world? The number one predictor for someone to move out of poverty is getting married.... but you choose to justify selfishness instead of sacrifice. Women would have life easier if they just understood their purpose isn't to larp as men and pretend to be them. YOU CAN DO ONE THING BETTER THAN US and you choose to spite us all instead of using your capacity to continue our peoples. Non child having people should be deported and certainly don't deserve a full single family home to themself. That's just outright selfish.... You can kickstart White babies again and find a man who will go half with you. But you are probably some old dyke who takes offense at caring about the White race while complaining about whats happening... Become a nazzi already.... THERE IS NO SOLUTION THROUGH VOTING They stole it fair and square under all the constitutions. Their government is illegitimate and the world is with us in removing our cancerous governments by force. Nuclear determination is the only way forward. Jews have a samson option to protect their folk. All Aryan countries need an Aryan samson option. The problem becomes the government, who is subverted by racial aliens and is antiWhite in practice, maintains control for jews it's clear. For White people it's not clear anymore. Our governments aren't for us. They make that clear. Have you heard of the book 'Germany Must Perish'?
I find it interesting they didn't address one of the biggest issues in the rental housing crisis- PROPERTY TAXES! A BIG PART of the problem is that the government started doing property assessments back in 2016 and started massively increasing property taxes. Along with increased insurance costs, utilities, etc, landlords MUST increase rents to cover their expenses and make a profit! And who's to blame for the need for the extra tax dollars? THE FIBBERALS! Look at their reckless, irresponsible spending over the last decade and you will see WHY this was necessary. Next time you get a increase in rent from your landlord, look Doug Ford and Justin Trudeau in the eye and DIRECTLY BLAME THEM FOR THIS!
How many homeless people living on the street is it going to take before a civil war and riots break out? Massive housing projects need to be sponsored by governments to build affordable units. What you have now are developers building for a profit consequently only high end houses with high mortgage payments.
Yeah, not enough people getting into trade because with the wage they are making, they can't buy house nor rent near where they work. I mean would you? 😆
Exactly. There's no job stability in the trades. Guys lose their jobs as soon as each project finishes. Even if they're consistently doing one job after the other, they're lucky to bring home $40k a year.
Personal experience tells me they haven’t a chance to fix anything. I’ve been offered jobs in areas where I would have to pay considerably more for a house and at a lower rate of pay than I currently enjoy (plus $50/hr CAD currently) and in my trade mathematics is key, no thanks to them I say, that math don’t add.
@27:42 she is WRONG and ignoring landlord rights completely. It’s a landlord’s apartment and if you remove ALL property rights then there is no benefit in even renting out the apartments- and that’s why in New York City many apartments remain vacant because it’s easier for the landlords to just keep it as an asset, airBNB it, or use it as stays for visiting friends/family vs having all their rights removed. if you are a landlord and you don’t wanna renew someone’s lease the following year because your daughter needs an apartment for example you should indeed have that right to do so because you are the owner!! if you are a landlord and there’s a family that lives in the apartment and they consistently bring roaches no matter how much you terminate because they do not properly clean or throw out infested items, then yes you should have the right to evict them. If you take away all of the landlords rights, they are not going to rent their apartments out.
The dude talking about capital gains taxes is clueless. On your principle residence, there are NO capital gains taxes if you have lived in it 1 year or more. And nobody corrects this BS.
Principal residence exception only seems to apply when the income generating portion of the property doesn't exceed about 30% of the total square footage (by this definition, he would not be able to claim it since assuming that the duplex is a 50/50 split and identical units, the rental portion exceeds the 30% rule). The CRA doesn't specify this number but it was generally accepted on some of the tax groups I've seen. In the case of the fellow in the video, I'm not sure if CRA would let him get away with it, especially in their current debt recovery mode. I'm certainly not an accountant, but every tax group I've been part of has stated that the PRE will not apply in obvious cases where the unit is being rented. What could happen is a proportional PRE where he would get a discounted capital gains assessment based on how much of the total square footage is personal use. I'd be very curious to see how it ends up, but the general thoughts right now is that rental property/landlording is not a suitable investment anymore with how much taxation is being targetted to it.
Rich Chinese own the west coast of Canada. East coast of Canada is owned by people from India. Canadian voters approved these changes when they voted for those who what these government policies.
Chinese are better than Indians by far. I've experienced both and prefer my own White people still! you are NOT voting your way out. Don't take the derad special bait n switch Nuclear determination is the only way to restore White self determination. We only have to get it right once, they have to be right all the time. Read Siege, Mao Guerrilla, Turner Diaries, Day of the Rope Book One, War of the Flea, When violence is the answer. or audio book em. Voting at this point is meant to pacify the voters into inaction. The four year pressure relief valve... I'm not saying it's useless. I just think sticking to voting is too deradicalized. They want us derad and inactive and posing no threat in the shadows of the night... I refuse to believe we go queity into the night. If we do it right, We only have to get it right once! They can't be on all of us. Like forests in the fire, we rise whether they ask us to or not.
Thank god my mortgage will be paid off in 2 years after 15 years of hard work and sacrifice and im debt free with a half million in my company pension hopefully in 10 years it will double once or twice if im not around to see the fruits of my labor i will rest easier knowing my family wont struggle
Government should NEVER be buying homes or apartments to rent out to people. That is horribly dangerous! Rents are negotiable like buying a house. What they could do is help lower prices for everything. IF the minimum wage to $25 an hour, that is the new poverty level. People have to educate themselves about economics and how history does repeat itself. But due to the greed of ALL elected officials in the US and Canada, they are winning the war at this point.
There should absolutely be rent control on ALL buildings, regardless of when they were built. There shouldn't be any incentives for a landlord to evict a tenant (under the guise of renovating AKA renovicting) just because they want to get somebody new in and charge substantially more rent. Too many landlords have gotten very greedy and employ this practice as a matter of course. This needs to stop and those guilty of this practice should be fined. On the other hand, I also know there are "bad actor' tenants as well - tenants that game/abuse the system. I think the government should create a database that landlords can access to research tenants' rental history. Landlords could use this to determine if a prospective renter has been a bad tenant in the past - either by not paying the rent/habitually late, causing damage to the property or causing problems with neighbours (loud music, parties, etc). Good, well-meaning landlords also need protection from would-be tenants that are just out to game the system and that are looking for a free ride. This would also encourage people to be good tenants lest they be unable to rent elsewhere down the road once prospective new landlords discover they caused problems.
I know young people who can't get into the trades due to not enough apprentice ship positions. We need a college based training to let peole become tradesmen outside of the traditional apprenticeship.
I was stuck as a land surveyor assistant for nearly three years in Alberta. I have nothing to show for it. The Party Chiefs just bossed me around and made me do grunt work: hammering lath, carrying equipment, setting up the instrument, pumping gas, flagging trees, digging holes for boundary pins etc… I was so fed up being stuck as a lowly assistant (apprentice) with no hopes of moving up. I never had an opportunity to use the instruments and learn the trade. I learned more working 3 weeks in France than 3 years in Canada. So my advice for apprentices: leave Canada. Work as an apprentice, then a journeyman abroad. Build up your resume and skills. Then move to the USA or Australia and ask for a huge salary. I swear that I worked with Canadian Surveyors with 5+ years of experience who did nothing more than locate buried gas lines and stakeout boundaries. You can learn that in a few months on the job. It’s the most basic stuff.
We have a Greenbelt policy limiting supply of developable land thus the supply of Single Family Homes. This outcome was inevitable. Very high immigration induced population growth sped it along. The prices are now expanding beyond the GTA as people take their new found home equity from the Greenbelt induced land bubble elsewhere in Ontario and Canada.
Portland Oregon also has limited city growth by state imposed urban growth boundaries. But this forced the city to allow for denser housing options to be built inside the city. And tons of new apartment buildings have gone up and kept the prices more affordable than Seattle at least. It's better than just sprawling into the farmlands like every other metro area.
@GirtonOramsay Artificial high land prices result in expensive dog crate condos. Brings down fertility and increases homelessness. Is this really better?
@@raguthanabalasingam2166 not every city has to look like Vancouver or Toronto. It's just building more missing middle housing, like courtyard apts or duplexes/triplexes. It's hard to build profitable housing when you can ONLY build single family homes on the majority of land in a city.
@GirtonOramsay We should not have single family in the downtown of cities, which we do in Toronto. We should not have skyscrapers in suburbs which we do in 905. I have no problem with building high in downtown. We should not be limiting supply of SFH in 905. I need housing appropriate for my family with 2 kids, and 2 cars with a top quintile income. My refugee parents own a SFH with a 2nd from the bottom quintile income. Our containment policies have eroded affordability across the board.
There are plenty of trades people. An article just came out how there isn’t enough work. Canadian government is SUPRESSING HOME BUILDING AND BLAMING A LACK OF WORKERS .
I just spoke with a contractor at a new home development I deliver to and he told me they’re laying people off so yea they don’t need more tradesmen the countries in depression.. weak economy slow growth/ activity
you are NOT voting your way out. Don't take the derad special bait n switch Nuclear determination is the only way to restore White self determination. We only have to get it right once, they have to be right all the time. Read Siege, Mao Guerrilla, Turner Diaries, Day of the Rope Book One, War of the Flea, When violence is the answer. or audio book em. Voting at this point is meant to pacify the voters into inaction. The four year pressure relief valve... I'm not saying it's useless. I just think sticking to voting is too deradicalized. They want us derad and inactive and posing no threat in the shadows of the night... I refuse to believe we go queity into the night. If we do it right, We only have to get it right once! They can't be on all of us. Like forests in the fire, we rise whether they ask us to or not.
Accepting to many immigrants that the country can absorb, it means…lack of rentals and houses to buy, health care systems in crisis, high cost of living…the demand exceeds the offer….it’s the same problem everywhere.
Great video. A lot of good analysis and commentary regarding the supply side of things. However you hardly scratched the surface with regards to the demand side. Why not talk about how immigration and the out of control flow of international students has crippled affordability particularly in the rental market? Is talking about it really that taboo? If we want to get to the bottom of the problem we need to call a spade a spade.
Build $100,000 houses. Four walls, a roof and very basic finishes. We'll put in oak floors and quarrz later. Problem solved. That is if those calling the shots consider it a problem.....
This is a joke and we’re still on Part 1 of the series. I do believe that government should help the most vulnerable but to label most, if not all landlords, as evil is BS for protecting their assets. Expenses, taxes, insurance, upkeep, is always on the rise too. I know this is hard for many out there but the private landlord is not the person to point the finger at while each level government isn’t doing anything to help renters other than allowing them an inept LTB which forces each side (landlord and tenant) to do what they can to survive.
You suffer from amnesia. Harper’s government made housing completely unaffordable for millennials. Trudeau’s Liberals screwed Gen X. We’re fucked either way. ALL politicians in Canada are bad news. I’m conservative and blame them for handing the Liberals a guaranteed victory with their retarded guaranteed-to-fail 1950’s approach to pot.
you are NOT voting your way out. Don't take the derad special bait n switch Nuclear determination is the only way to restore White self determination. We only have to get it right once, they have to be right all the time. Read Siege, Mao Guerrilla, Turner Diaries, Day of the Rope Book One, War of the Flea, When violence is the answer. or audio book em. Voting at this point is meant to pacify the voters into inaction. The four year pressure relief valve... I'm not saying it's useless. I just think sticking to voting is too deradicalized. They want us derad and inactive and posing no threat in the shadows of the night... But I know we do not go quietly into the night. If we do it right, We only have to get it right once! They can't be on all of us. Like forests in the fire, we rise whether they ask us to or not.
You don't need an Oxford degree to understand that if you mindlessly give away money for ten years, encouraging people to go into debt, and then suddenly do the exact opposite, the country will go into disarray.
You don’t have enough tradespeople !? Eat my shorts. Seriously. I left the country to move to France in 2019 because land surveying companies were closing down, there wasn’t enough work for the trades. I was on an hourly wage and my boss couldn’t find work for me. So I was hired full time to be on the dole most of the time and earn $100 paycheques. Why do you Canadians always complain that you don’t have enough tradespeople when it’s easier to find work in France as a tradesman!?
Please make a documentary on hourly wages in the trades and how workers have to compete with each other to get work. This impacts everything. Starting out in the trades in Canada sucks because of that. The journeymen don’t spend any effort training the apprentices because they don’t want to have competition for their tasks. You’re better off leaving Canada as an apprentice and coming back with experience as a journeyman (or not…). Why would you want to work in the trades in Canada!? You get 24/4 shifts, 12h work days… Having a social life and family is impossible.
Geez Canadian cities look MORE unaffordable than many parts of the US. At least I can flee to some dumpy red state for cheap rents if needed. Lived in Idaho for 5 yrs where it is still "cheap" working a normal job
If the government wants affordable housing they could start by not taxing primary homes especially for lower income people that have the most trouble affording property taxes.
Definitely a demand issue. No one wanted to own a home until 2011 to 2014. If homes stop appreciating no one will want them. You’ll then see… all along it’s been a demand issue - not a supply issue
More and more people are living in their minivans while working full time jobs, and applying for employment in America. Once they get a full-time job in America, they are gone for good from Canada, they won't be coming back.
Houses being built are MASSIVE make smaller houses cheaper, whats with that ridiculous capital gains tax ? In Australia you only pay capital gains tax if you have the home less than seven years. If you live there for 7 years and over which many people have then you are exempt from that tax
Co-ops can help. They’re owned by the members who are the tenants. That gives tenants security of tenure and reduces rental costs because they’re non-profit. My elderly father lives in a two-bedroom co-op in downtown Toronto. His rent is $1200 a month. In the private market it would be three times that and the landlord would be raising the rent every year and looking to renovict everyone.
Wait wait, I get the idea that financialization of housing can be an issue, but if the reits and pension funds don't invest in building and owing new housing and the government don't have the money to do it, who does this lady think will build new housing? Remember, the rental property has to be paid by someone in the beginning in full (or through a mortgage), if there is no one to do it, it won't get built. You are seeing housing starts crater right now exactly at a time when we need more housing. Presale activity precedes future housing starts, what we are seeing in the industry is a coming black hole in housing starts. Even purpose built rentals have to be owned by someone, ironically they are usually reits or pension funds as policies continue to push mom and pop landlords out of the market. So? Who do we think will provide the rental housing?
Rent control discourages land owners from constructing new affordable housing. Rent control is the reason why condos are being constructed instead of affordable housing. Because condos do not have rent control.
How did we get here?? Trudeau has put his pea brain in the sand and let this horrible situation year after year get so BAD that rent for a 1 bed/1 bath in Vancouver and Victoria is $2,400+
if you measure the value of something in terms of gold, you will see real estate is actually losing value. The currency is being inflated away to nothing.
I find it kind of strange that these so-called liberal supporters not discussing the real issues of no affordable housing increase taxation by the federal and provincial governments on Canadians and businesses.
so this lady is in her 40's, never bought a house and has been renting her whole life and she is an expert on housing? Clearly, she has made some poor decisions in her life that led her to never be in a position to buy a house. She is asking the govt to come in and take money from productive people and give it to her so she can have cheap rent and probably continue to make poor decisions.
Exactly!! And I’m tired of people complaining. When I lived on my own - it was NEVER on my own. In 2004 I was making $15 an hour and my daughter’s father was making $20 plus worked nights at Walmart stocking shelves. Our rent was $900 for a 2 bedroom apartment. We bought a condo with the help of our parents. Housing has never been affordable. Never! Never for one person. Today we both make well over 100K each (20 years later) and we own a house. How can anyone today complain that they should have a house when 20 years ago you needed a dual income household? You still need one today!!! DUH 🙄
