Housing prices rose because we brought in 1.4 million people in a single year and tripled immigration, blaming capitalism for that seems a bit silly. Trying to implement price controls is great but how do you decide who gets the cheaper house, you've done nothing to improve the supply while the demand continues to increase.
teppa
joined 2 months ago
Most areas of our largest cities still zoned for single family homes, still no shovels in the ground for high speed rail, mass immigration from low emission countries continues. Has Canada done anything except tax the poor for not buying a new 80,000$ EV and instead relying on fossil fuels to power their 25 year old beige Corolla?
What you dont understand about the plan to financially repress the youth by ballooning home values via mass immigration is that Brookfield has a large residential real estate portfolio, which will fall in value if home prices fall.
I hope this helps.
Dont worry, he wont be cutting the Bank of Canada's funding, nor the billions in mortgage bonds the Bank of Canada is buying to inflate home values for his stock portfolio. It will be the less important things like health transfers and child benefits.
The new boss is the same as the old boss, but what would you expect when you vote for the monopoly man who built his empire selling greenwashing funds that mainly hold large US tech stocks.
The UN called this whole foreign worker scam "modern slavery", which is of course why Jagmeet supported it.
Its sad we need to emulate such junk, but alas, some day we won't have to.
Wow such an inspiring first mover advantage for the old. Meanwhile the young get to compete with hundreds of thousands of new people every year after we tripled immigration.
Well we cant really complain when the US protects its domestic industry via tariffs then can we?
I'm sure not everyone is happy about exporting car and oil production to Canada.
His literally said housing prices shouldn't fall, even though he have a world leading housing bubble that threatens to bring down our entire economy. This level of mismanagement is how communist countries are created.
I don't disagree that they share blame however things were going fine prior to tripling immigration, was it not?
It was the Feds that changed the status quo in a rather static ecosystem, and I have a propensity to blame the direct catalyst that lead to the shortage rather than those who failed to adapt at breakneck speeds. Surely building the homes first would be the rational order of operations.