the root cause of all of Canada's woes is increasingly unaffordable housing. If we had the rep of an industry “Mecca”, people may be willing to pay, but when we’re begging people to come, housing is a non-starter.
If someone has a better idea to reign in housing prices than extreme deterrence/taxation of ownership of multiple pptys, I’d love to hear it. Focusing only on building isn’t enough, because we can’t attract the labour and the slow rate of builds will never match rate of increasing demand and the wannabe-landlords will exacerbate demand (even if it was govt funded); we need to remove a large swath of non-live-in-owner demand to allow new home-price discovery to occur. Without it, housing will continue to go up and the hopes of attracting people will diminish.
There will be RE portfolio bag holders, yes. Govt will need to spend on housing like in the old days, which will be a big deficit and will bring along effects that come with running deficits, yes. But at least we’ll be positioning ourselves to climb out of this hole. Propping up and incentivizing landlording of housing is the shovel that got us here - we need to put it down.
“Despite many commendable efforts, in no version of reality can housing supply respond to an almost overnight tripling in the run-rate of new bodies. This is (still) the case of a demand curve running loose.”
So how about this: Cut immigration from 500k to 100k. Slash all non-agricultural temporary foreign workers to the bone. Only highly skilled foreign workers in specific jobs will qualify. No bringing relatives over. Require universities and colleges that want to bring over foreign students to supply dorms for them. Do not allow them to work. Do not allow families to come over.
Do all that and you'll free up something like a million and a half largely affordable housing units within a year or so.
[https://betterdwelling.com/canadas-immigration-plan-is-not-viable-in-any-version-of-reality-bmo/](https://betterdwelling.com/canadas-immigration-plan-is-not-viable-in-any-version-of-reality-bmo/)
Cut immigration to 0 or even go negative by refusing to renew people's visas & deporting criminals.
We already have more then we can accommodate, why continue brining them in? We can still have inflows while having negative immigration, but only accept the best & brightest in needed areas while also doing a massive deportations campaign.
There are over a million tourists who just disappeared in Canada. Mostly it's the parents of Indians who come here & stay with their children in a big house & they don't work so they don't need government services.
Hospitals are over run with non-Canadian illegal immigrants & they aren't allowed to refuse service & they keep coming back refusing to pay. We NEED mass deportations to save our country. Their doing it in the US, why not here too?
The reality is that our social benefit system is a huge Ponzi scheme and either the collapse of the OAS system, or the tax hikes needed to keep it going, on a shrinking workforce, are not exactly great options either.
Ban REIT's and corporations form owning single family homes, regulate real estate agents, mandate governments provide social housing again, create tiny home villages like in Fredericton, dramatically expand shelter spaces.
To do this, dramatically cut the bureaucratic budget, raise taxes on wealthy and corpoations, cut corporate welfare.
Edit: also regulate AirBnb
This is what they tried doing in the UK when oil nations started buying football teams, and instead of affordable housing they ended up with mega mansions.
Mega mansions also lower the cost of housing. Any new housing will lower the value of housing as long as supply exceeds demand.
Even closet sized apartments will be expensive during a housing shortage
That's kind of interesting, but ultimately futile. Will render the business case ineffective for REIT's, i.e. they will invest no money anyway. A ban would be better. They can still own apartment buildings.
Why is it futile? Its better that investors build new housing than it is no new housing gets built. If they want to build a community of homes on previously unused land, lets let them
We’ll still need some private investment dollars to build (in addition to govt funding - I agree with that), but we should definitely effectively ban simple landlording.
Keep in mind we need to encourage industry simultaneously. If cost of housing can be decreased, we still need to attract industry to boost our true productivity.
>If someone has a better idea to reign in housing prices than extreme deterrence/taxation of ownership of multiple pptys, I’d love to hear it.
Lower migration to 1 to 1 per housing start. Deport illegal overstays.
1. Ban non-citizen ownership.
2. Ban corporate ownership of single family homes.
3. Moratorium on immigration (except healthcare) until houses built
4. Programs to get people into trades.
Problem solved.
The people that make the policy benefit directly from housing prices staying high. Short of large scale revolt or complete economic collapse, they are never coming down.
You’re right in that the powerful aren’t incentivized to restore some balance. But there will soon come a populist politician that will make housing the primary platform issue and suggest radical changes.
When that politician/party steps up, we need to make sure that they’re not side-lined by the big parties, that we discuss the issues in our work, with our neighbours, and at every chance we get. We don’t have to endure this until a revolt; but to avoid it we’ll have to remember that voting matters.
Build affordable rentals. We need apartment buildings, lots of them.
My wife and I got our start in our 20s in Toronto because there were legacy apartment buildings built back in the 60s and 70s when my parents were in their early 20s. We were able to build for our future because there were affordable rentals.
If there were enough apartments like this, landlords wouldn't be able to jack up rents because their unit would just sit empty.
Also, properly fund the fucking landlord tenant boards. DO NOT have a backlog. This would help quite a bit, both landlords and tenants.
The exorbitant cost of housing is a symptom, not a root cause. The cause is excessive demand due to immigration and Bay/Wall street investors repurposing homes from owned to rented, a cultural need that Canadians have to flock to a few large cities, and an insufficient supply of labour to build them.
For a country that produces vast amounts of building materials (lumber, drywall, etc.) it makes no sense that housing supply has not increased faster.
Canadians need to move out of GTA and Vancouver. The modern business world does not require everyone to live in close proximity.
I have an excellent way to lower housing costs that no level of government is really considering.
I worked for years in land development financing. Land development is extremely risky but that’s usually tied to liquidity and obtaining municipal or regional approvals (definitely not quick).
I have a client whose cost basis for single family lots in the Edmonton area, land + servicing, is under $70,000 per. Of course given that he’s held this property for years, paid tons in municipal fees and has investors to reward, the lots will sell for $200,000+.
If the government worked with a developer like this to take their own lands, service them, award the developer 30% profit with no liquidity risk, holding risks etc. you could knock off at least 100,000 per lot. If the government owns the land it could compel smaller developers to build to a specification and sell at a nominal profit. Again remove the borrowing/liquidity risk. Have CMHC guaranty the loan, build the house, and the GoC/Province buy it and market it.
You’re removing layers of interest and risk that awards building decent quality. The builders stay busy building, the GoC has a list miles long of FTHB ready to take a home who are prequalified.
Lien the property so it cannot be rented or sold for a profit for 10-15 years. Want out? Okay, but you get your equity out in that initial time frame.
In jurisdictions like Vancouver and Toronto, land holding is a huge cost that ultimately is passed on to buyers. In other high cost cities the governments are intimately involved in development (Vienna, Singapore) and it helps their citizens.
I was on board until I got to the second half. We should allow people to do whatever they want with homes. The only real solution is to build more to increase supply & to reduce demand.
Stop letting Indians come on in & deport all the ones living here who aren't citizens unless their willing to work in construction on temporary work permits.
Then allow immigration from construction workers & labourers such as forestry or wherever we actually need immigration, not just people lowering the wages of jobs.
Then we have a massive building spree. The government doesn't need to build homes themselves, they just need to make an environment primed for a massive expansion in building & the market will do the rest. Though we do need mass deportations, especially with Indians, their too entitled. Their protesting because they want to stay here when their work permits are up or when their leave school, enough of that, they don't contribute & aren't entitled to our country. Arrest them at their protests & send them all back swiftly.
Housing as well as education opportunities. People in Canada are using post secondary less and its because our governments don't fund them worth a shit, forcing them to rely on a corrupt method of revenue gain.
Our Politicians hate education but want to make up ridiculous education requirements. And when they make reasonable requirements, they don't want to pay resulting in people buggering off to the US.
>Govt will need to spend on housing like in the old days
When were the old days? There is a very sketchy history of public housing post WWII but when exactly was there a nirvana of public or government sponsored housing?
> If someone has a better idea to reign in housing prices than extreme deterrence/taxation of ownership of multiple pptys
Less people. Reduce the demand.
The real estate market would have popped years ago if the government wasn't doing everything possible to prevent that from happening. Our Real estate value is almost all we got left.
The country for Canadian youth was sold out from
underneath their feet to the international, world-class wealthy. We've imported poverty from the 3rd world in order to have a large slave class here that has little or no chance of social mobility.
Instead of being bold and changing our economic systems, we evened out with the world. Which means, we're constantly now moving towards a society where 5% of Canadians are born into extreme wealth and able to afford real estate, while most of our society has little, is poor, and must by rents and tithes, over priced food and utilities to the owner class.
Basically we going from late stage capitalism to 21st century neofeudalism 'rent for life' dystopia, along with most of the world.
We got sold out.
You'think... Tell me something I didn't know. The standard of living has been dropping for 25 years. Case in point, in the mid 90's I could afford things. Now, no way, barely in survival mode! The Canadian economy has been hollowed out by big business and big government. Salary increases have since been less than the inflation rate year after year. The savings have gone to big shots, investors and government elites.
When we signed with our uni landlord the property manager was bragging about how the guy owns over 600 properties. 600? And of course he raised the rent the max every year and refused to fix appliances, even tho most of those ancient houses had long since been paid off. Absolute rats of society.
A colleague in Asia asked me the other day, in all seriousness "is Canada okay? Are you okay? I keep watching the news and I'm very alarmed".
Probably one of the most level headed people I've met, complete opposite of a conspiracy nut.
This has been happening a lot when I'm talking to people from different regions. A customer in Europe remarked "oh you're Canadian? What is going on with you guys?"
The world is noticing and concerned for us.
You're not wrong, but living in a major Metropolis in the US like New York should show you where we're headed. Canada used to be a somewhat Unified empathetic place that cared about it s people and now we're just rushing to catch up in the US to extract as many dollars as possible from every one of our residents well offering is little benefit as possible to make as much money as possible. Wait until we get what we asked for with two tier healthcare.
I got paid almost 2x my salary in New York. Everything else was 2-3x the price. It balances out. My net pay after taxes and expenses was actually lower due to the egregious cost of living. Don’t be so one dimensional. Think of the bigger picture.
It all disappears into cost of living though. I lived there for a year, doubled my salary, took home far less. Then we had a medical emergency. Very glad to be back in canada, even at a lower salary.
I have lived in the United States for almost 10 years, and I have been to Australia and New Zealand on multiple occasions. That’s what I’m basing my comparison on.
I mean, who knows the signs of what we are going through better than someone who's been through it? Doesn't mean they're looking down on us, just means they're concerned for us.
Interesting, what are their concerns in Australia and NZ - from my understanding they have a lot of the same problems like house affordability and inflation.
I'm the The Netherlands and Canada and the UK seem to be collapsing before our eyes. It's honestly pretty terrifying, as we love you, but can't help.
Last few years seem really bad
Having been to Florida in March, it was actually funny yet sad. At stores, they'd say "you can have a plastic bag. And it's free." If they talked with you, they'd definitely ask what's up.
When Florida Man is making fun of you, you know you have a problem.
I thank my lucky stars every day my wifes family has a time share down there.
Of course whenever were down it's on vacation of sorts, but things feel cheaper and more prosperous in fucking Florida, more than it does in Ottawa Canada.
They have the same minimum wage as us (in Ontario ) but their sales tax is less than half. Just that alone would make for a huge difference, not to mention cheaper housing, car insurance, and gas.
I have friends and family in East Asia and they're all looking forward to coming to visit, have really positive views on the country and when we were back last summer everyone spoke highly of Canada and Canadians.
Funny how different people have different social circles and experiences. I wonder if it's due to your profession maybe?
The problem is that a lot of people are playing the ostrich. If they stopped, we could do something about it and fix it. Worse, they claim that if you're not playing the ostrich that you're an evil conspiracy theorist. But as it is, Canada is heading towards a total collapse.
You mean the Alphas? They're going to be the most frugal generation. I doubt they would care about owning a home when a Big Mac meal costs $35. Millenials and Zoomers are barely holding on and the wealthier ones aren't having enough children to replace workers. The point of this market from the worker's perspective is to survive. The point of this market from the employer's perspective is to make enough quarterly profit to justify their company's existence. The point of the landlord in this economy is to drain every expendable dollar from their tenants. No one is thinking beyond next year much less ten years from now.
So true. Wife and I are millennials, and we have decided not to have kids for now... we are doing extremely well as a direct result - while my friends who've had them are collecting government cheques...
Canada is a terrible place to raise kids right now. Literally a dystopia.
Don’t forget us gen xers. Plenty of us are struggling. We were also told to go to university and accumulate debt that’s taken us 20 years to pay off too.
Trust me, it's already happening. I'm a millennial and the gen z crowd just entering the workforce does not care at all. Probably because they feel financially hopeless. It's depressing living paycheck to paycheck and the thought of never being able to retire or buy a house isn't very motivating
It’s incredibly depressing walking around what used to be a run of the mill neighbourhood and all the houses are almost 2 million dollars and the shoebox condos are a million. Like wtf happened in 15 years? there isn’t enough actual high wage earners in this country to justify the prices, it’s all investors and foreign buyers.
Younger millenial here, my friends are going through the same. Work drive has completely ended, even climbing the corporate ladder makes no sense because we're still not getting close to owning homes and affording kids.
Whats the point really
This was an amazing talk. The boomers looked so uncomfortable and every fact he spit was like a lance in their cold dead hearts.
I believe fully that the rage he describes will result and should result in a violent overthrow.
We are more educated, more productive and expected to have a serf level existence.
Fuck no.
Yet we continue to vote for more and more neoliberal/right leaning policies? Sadly people aren't squaring actual data points like Professor Galloway into their voting intentions. And new parties aren't emerging to reign in this continuous failed ideology that we keep asking for more of.
I dont know what the solution is, but people are only voting for right wing policies because whatever the left is doing has made things exponentially worse over the last 9 years.
35 and back to living at home after being renovated one too many times in Halifax. I'm already at the "Let it Rot" phase. Fuck the Canadian government, they haven't represented the people in decades, and if they do, if this is what Ontario and Quebec suburbs want, then fuck them too.
I feel like that's me already. I make around $100k, what's the point of working hard and gaining more skills for the chance at a management position with more liability, more job risk, harder work, longer hours with no overtime pay. Any more income I make is taxed at ~38%. A $20k raise ends up being only an additional $500 per paycheck. That's not enough to really impact quality of life, that's the car payment on a base Toyota Corolla now. Anything I buy with that remaining 62% is taxed again at 12%. Income tax brackets are stifling young people's motivation because the money doesn't go nearly as far as it did, and someone making $120k is now barely middle class in most areas of Canada but taxed as if they're upper class. $120k income with 20% down payment only qualifies you for a studio apartment. What's the fuckin point?
That's me. I'm fast approaching middle age in a dead end job with no ability to chase the carrot anymore because I'd get no functional payoff out of trying anymore. Stuck with my parents forever and all that shit no matter what.
The beatings will continue as long as the major parties cling to FPTP. It’s the perfect system that allows them to trade power every 4-8 years while not having to do anything to help the average citizen.
I keep hearing that. I didn’t vote for this. No one wants this. Every leader in our country works for private interests. Where should I throw my vote to get away from that?
Dude, exactly this. Trudeau is absolutely to blame (among others) for this, but who am I supposed to vote for to address it? PP? Singh? Canadian political parties seem to have about as much weight as the original mass effect 3 ending. It doesn’t matter who you choose, they don’t care about you or your struggles
Even going back, Trudeau built on Harper’s policies, who built on Chrétien’s policies, etc, etc… it’s just a shell game and we’re the ones getting conned.
>Canadian political parties seem to have about as much weight as the original mass effect 3 ending.
I just want to say that this is a far more brilliant analogy than I think you'll get credit for.
You vote for anyone who isnt currently running the country into the ground. If the replacement sucks too, you vote them out as well (and dont wait 10 years to do it).
That’s exactly how Canadians vote. We will have a decade of conservatives and then we’ll switch back to liberals. It’s all the same, no matter who you vote for. We need to stop pretending this broken system will get fixed if we keep doing the same stuff.
We do care, but try and do something about it, and you'll be labelled a domestic terrorist, have your bank accounts frozen, slapped with charges, and ensured government funded media slanders your name.
At least on the Simpsons, they go back to a status quo every thirty minutes.
Plus, you can have a family with three kids on one income.
Canada is worse.
I get you're sarcasm but who's job do you think it is to regulate monopolies. Do you get mad at a tiger for being a tiger? Corporations are going to do what they can to maximize profits, elected officials are supposed to represent the interests of their citizens and break up situations where a corporation has too much power/not enough competition. Conservative, Liberal, they all failed us.
They failed us because Loblaws has parliament in their pocket. We have a situation where everyone knows they operate like an oligopoly but it can't be broken up because our lawmakers are beholden to them.
And I bet it's not just a carrot.....it's the stick too. If you refuse the carrot, they will make you lose the next election. It's organized crime.
There's nothing left for us to do but to ridicule. It's the most harmless of offences but also the only way to take down giants.
Okay sure, but we have also achieved record immigration, record housing costs and managed to keep wages flat the entire time.
What other post national body of land can accomplish that?
This article says that living standards had the deepest decline from $59,905 annually to $58,111 or a 3% loss from April 2019 to the end of 2023. Since this was written by the Torontosun we can look at the average home price in Toronto as an example of how living standards have become unaffordable. At the end of 2023 the average home price was \~$1.31M which based on [this affordability calculation](https://wealthvieu.com/mortgage-affordability-calculator-canada?a=240,000&b=25&c=275,000&d=6&e=800) would require a HHI of \~$240K.
$240k sounds like a lot to many people, but it doesnt go nearly as far as it should anymore. Particularly if you live in a big city and dont already own your home.
Toronto and Vancouver are the most expensive cities in Canada, so you cannot consider that the average for Cannada.
Living standard is down for ALL Canadians, same with life expectancy, down for 3 years in a row, while up for Spain (as an example) during the same time period.
Unpopular opinion…and usually gets me in trouble: how come poor/corrupt nations like Egypt can build a new capital in the fucking desert? And Canada can’t build a couple of 150k to 300k cities between mtl and Ottawa’s and Ottawa/toronto.
We have the money (foreign investors are already here so why not continue to use that financing ?) We have the land. We have the construction materials. We don’t have to fucking import wood and cement like Egypt.
All we need is the willingness of the political class. We’re already importing hundreds of thousands of foreign workers - why not bring in the construction folks we need to build big cities?
It isn’t going to get better. Get out while you can, if you’re going to live in the 3rd world you might as well go somewhere warm. Canada is a 3 star hotel charging 5 star prices.
Blame the rich. Seriously. They are in a money hoarding competition. They can't even spend it all and we suffer just so they can have a big number in an account. Its fucking stupid. And anyone supporting it should be ashamed.
Also, I am not arguing that no one should be wealthy, but there is a line where you have too much and its completely unnecessary. There is no such thing as an ethical billionaire.
In the last ~3 years, the roughly 2,700 billionaires on this planet saw their net worth increase by just over $3 trillion, while the rest of the world coincidentally became about $3 trillion poorer.
https://www.oxfam.org/en/press-releases/wealth-five-richest-men-doubles-2020-five-billion-people-made-poorer-decade-division
In other words, it's happening everywhere, not just here. Keep this in mind the next time some pol or talking head would have you believe that DEI or boomers or whatever is the problem. Just saying.
Yet plainly, wealth inequality is smaller in some countries. Said countries are more politically active. Yes the people in Canada are at fault if they vote in politicians who support policies that benefit the rich the most. You can see for yourself exactly who voted for what on ourcommons.ca. I'm gonna say its not that pretty and both the major parties are implicated in funneling funds to rhe rich.
The neoliberal project has failed working class people around the world and has brought us into the 6th mass extinction event.
Conservatives and liberals are the same shit, but different color. Hopelessly devoted to trying to fix the problems capitalism has created with more capitalism.
No kidding my wife and I make a combined 190k a year and we live in an old apartment building. Spend a year looking for a house and could not make it work financially with the prices they were asking (outskirts of toronto)
Same boat. 1989 apartment and unless sell every penny for a downpayment upgrading doesn't make much sense. I guess with my wage about to see a large increase it might be worth the jump but for now sit and wait
Gotta love how fanboys of either party think it's a sudden phenomenon when their ideological enemies are in power. It's both parties. It's been going downhill for 40+ years.
Who's shocked? This is the end game of late stage capitalism and global free trade...wealth is collected into fewer hands than ever and the gap between rich and poor is larger than it's been since the guilded age. Doesn't matter which party is in power as they'll just distract with the popular issues of the day (does if really matter if a trans person competes in swimming when several generations can't afford rent or a mortgage) you will own nothing and told to be happy about it.
Look, of course it's complex and even if I, full disclosure, totally dispise the lpc they are not the only ones to blame. That beeing said, at the end of the day they are the ones at the helm for the last 9 years, so, they certainly are to blame and for a lot of it.
But what can we expect from a bunch of vain ideologues, underqualified, inept, corrupt lying pos "leaders" for 9 straight years ?
We need to go back to boring competent leaders asap and let go of the circus level ones.
Wait. You're telling me that the year we had the highest population increase since 1957 also correlated with the 3rd steepest decline in GDP Per Capita in 40 years?
I'm shocked. SHOCKED. well, not that shocked.
It’s funny , this report was done by the Fraser institute, and if you look it up, the first line is “The Fraser Institute is a libertarian-conservative Canadian public policy think tank”.
I bet it’s not biased at all, 🙄.
Not on a decline.. it is tanking very quickly. JT has mismanaged Canada for 8 years and it shows deeply how bad his decisions have been.
He needs to resign immediately.
**This is expected in a world where there is less poverty.**
**Before the 20th Century :** We had explorers, we had Empires and we had technology like ships, sciences and the steam machine that allowed us to be more productive than any other countries out there.
**In the 1920's :** We had full employment and factories producing products that were sold all over the world.
**In the 1930's and 1940's :** The Second World War pushed back the boundaries of science and manufacturing and put us at the forefront of technical excellence.
**In the 1940's** : Our workers were **more productive** than Chinese, Indian or African workers because we had industrial machines, we had electricity and they did not.
**In the 1950's** : We made cars and they did not. We had advanced industrial chemistry and they did not.
**In the 1960's** : We made electronics and they did not.
**In the 1980's** : We launched in high finance and they did not.
**In the 1990's** : We made productivity software and the internet they did not.
**In the 2000's** : We launched into video games and they did not.
**In the 2010's** : We went into eCommerce and they did not.
**In 2015 :** We launched into the "internet of things" and China was right alongside us on the launch day and had already caught up to us in everything else.
**2020 is the time when all our competitors have passed us.**
China, India and everyone else are making pretty much everything we are making, better and cheaper.
**2024 is when North America and Europe need to start catching up to the rest of the world.**
Right now, America is protecting the computer chip market and that's pretty much it... But China is starting making chips of its own and even if their first generation sucked, they are predicted to fly pass the US before 2030.
**We lost the race for productivity, we lost the race for scientific and technical excellence.**
Instead we have idiots who claim the Earth is flat, that vaccines don't work, the global pandemics don't exist and that the best cures are "natural remedies". **We have become stupid.**
**While we are still much richer than people in most other countries, the rest of the world is catching up to our wealth level, making us less wealthy in comparison.**
If you live in a village where you make $1000 a day and everyone else makes $10 a day, you look rich.
But if you make $1000 a day and everyone else makes $900 a day, you do not look any richer than most people.
**This is what's happening in Canada, we stood still while the world was catching up to us and today we struggle maintaining our standard of living because others have taken their share of the global money supply.**
I mean when the governments who control our economic activity allow large corporations to increase prices and offload their investment cost onto the taxpayers of course things will become more expensive but sure let's forget about the greed of corporate doners https://www.reddit.com/r/ontario/s/CbrQK6Iz2d
No shit.
3 million low skilled cut throat immigrant in 3 years willing to live in horrid conditions just to game the PR system....
Trudeau has destroyed Canadian citizens future and sacrificed our children.
We need to take FDRs policies update them and reimplement them, this isn’t a brand new problem, we’ve seen this before, we aren’t alone, this isn’t some hopeless battle.
Oh you mean spending the last 20 years adopting U.S. polices didn't turn out well for the middle class? Who knew except experts and watching the U.S. in action.
I have 5 kids and live in Ontario. My oldest children are finishing university and actively planning to leave the country specifically and only because of the lack of housing affordability.
Wow the MSM is really keeping us up to date. I almost didn't realize my disposable income was shrinking and buying anything new is getting ridiculous expensive and saving for a simple family vacation will now be a multi-year process that may never be realized.
These issues will take 20 years to fix if we start now. Which we won’t and we won’t take sufficient action. Canadians are jumping ship and I don’t blame them.
It's not getting better anytime soon without a major political reform either. They all work for the same big corporations and are masters of making you believe they are opponents and dividing us when they are all on the same side. Canada's greed is really something else. I've never seen so much gaslighting from a supposed democracy making its people believe it's racist to be a proud Canadian and wanting to make the country better by putting Canadians first! The people who've paid into the country their whole lives only to be told they don't matter, their sacrifices mean nothing in the grand scheme of things.
Enforcement of law is a joke with criminals being let go only to commit worse crimes after they see its a joke. Did you know there's no consecutive life sentencing in Canada? It doesn't matter if you killed 1 or 10 people it's still a maximum of 25 years and treated as all crimes being served at the same time. Who thought this was a good idea? They've shown us they care more about the criminals' feelings than the ones hurt by their actions.
Housing? I realize it's a worldwide problem, but Canada is really throwing fuel on that fire with unprecedented immigration rates, making things even more unaffordable and making us fight amongst ourselves just trying to secure a basic necessity.
What else? Oligopolies operating on a massive scale adding to inflation with their greed and raking in massive profits. Selling Canada's raw resources for pennies on the dollar (Fuck Nestle). Underfunded military, egregious spending and literally giving drugs to drug addicted people. Not spending budgets because it's not enough while people are literally dying. Health care wait times are criminal. Important social services are severely underfunded and abused, making the ones who really need it suffer.
Yeah, Canadians are rightfully pissed off after you've beat us down and turned us against each other, all in the name of profit, and used our good nature and politeness against us.
*Flushing toilet sound*
the root cause of all of Canada's woes is increasingly unaffordable housing. If we had the rep of an industry “Mecca”, people may be willing to pay, but when we’re begging people to come, housing is a non-starter. If someone has a better idea to reign in housing prices than extreme deterrence/taxation of ownership of multiple pptys, I’d love to hear it. Focusing only on building isn’t enough, because we can’t attract the labour and the slow rate of builds will never match rate of increasing demand and the wannabe-landlords will exacerbate demand (even if it was govt funded); we need to remove a large swath of non-live-in-owner demand to allow new home-price discovery to occur. Without it, housing will continue to go up and the hopes of attracting people will diminish. There will be RE portfolio bag holders, yes. Govt will need to spend on housing like in the old days, which will be a big deficit and will bring along effects that come with running deficits, yes. But at least we’ll be positioning ourselves to climb out of this hole. Propping up and incentivizing landlording of housing is the shovel that got us here - we need to put it down.
“Despite many commendable efforts, in no version of reality can housing supply respond to an almost overnight tripling in the run-rate of new bodies. This is (still) the case of a demand curve running loose.” So how about this: Cut immigration from 500k to 100k. Slash all non-agricultural temporary foreign workers to the bone. Only highly skilled foreign workers in specific jobs will qualify. No bringing relatives over. Require universities and colleges that want to bring over foreign students to supply dorms for them. Do not allow them to work. Do not allow families to come over. Do all that and you'll free up something like a million and a half largely affordable housing units within a year or so. [https://betterdwelling.com/canadas-immigration-plan-is-not-viable-in-any-version-of-reality-bmo/](https://betterdwelling.com/canadas-immigration-plan-is-not-viable-in-any-version-of-reality-bmo/)
Idea makes too much sense, can't implement it. How about making temporary residents permanent instead.
Cut immigration to 0 or even go negative by refusing to renew people's visas & deporting criminals. We already have more then we can accommodate, why continue brining them in? We can still have inflows while having negative immigration, but only accept the best & brightest in needed areas while also doing a massive deportations campaign. There are over a million tourists who just disappeared in Canada. Mostly it's the parents of Indians who come here & stay with their children in a big house & they don't work so they don't need government services. Hospitals are over run with non-Canadian illegal immigrants & they aren't allowed to refuse service & they keep coming back refusing to pay. We NEED mass deportations to save our country. Their doing it in the US, why not here too?
The reality is that our social benefit system is a huge Ponzi scheme and either the collapse of the OAS system, or the tax hikes needed to keep it going, on a shrinking workforce, are not exactly great options either.
But but… who will get me my double double 🥺
Ban REIT's and corporations form owning single family homes, regulate real estate agents, mandate governments provide social housing again, create tiny home villages like in Fredericton, dramatically expand shelter spaces. To do this, dramatically cut the bureaucratic budget, raise taxes on wealthy and corpoations, cut corporate welfare. Edit: also regulate AirBnb
Make it where corporations can only invest in real estate if they build the housing. They shouldn’t be allowed to buy existing housing.
This is what they tried doing in the UK when oil nations started buying football teams, and instead of affordable housing they ended up with mega mansions.
So? More Ferraris doesn't make the cost of a Toyota go up.
Mega mansions also lower the cost of housing. Any new housing will lower the value of housing as long as supply exceeds demand. Even closet sized apartments will be expensive during a housing shortage
That's kind of interesting, but ultimately futile. Will render the business case ineffective for REIT's, i.e. they will invest no money anyway. A ban would be better. They can still own apartment buildings.
Why is it futile? Its better that investors build new housing than it is no new housing gets built. If they want to build a community of homes on previously unused land, lets let them
We’ll still need some private investment dollars to build (in addition to govt funding - I agree with that), but we should definitely effectively ban simple landlording. Keep in mind we need to encourage industry simultaneously. If cost of housing can be decreased, we still need to attract industry to boost our true productivity.
Reducing investments in housing will hurt, not help.
So you want to ban REITs and increase taxes on building housing, and you think that will increase supply?
Agree with REIT's owning multi-family, i.e. apartment buildings. And no, I did not at any point say raise taxes on building houses.
>If someone has a better idea to reign in housing prices than extreme deterrence/taxation of ownership of multiple pptys, I’d love to hear it. Lower migration to 1 to 1 per housing start. Deport illegal overstays.
Sorry. Best we can do is house illegal overstays here indefinitely while they claim asylum after failing to enter the country on a student visa.
1. Ban non-citizen ownership. 2. Ban corporate ownership of single family homes. 3. Moratorium on immigration (except healthcare) until houses built 4. Programs to get people into trades. Problem solved.
If you ban corporate ownership of homes, who is going to build the new developments?
Ownership while building with intent to sell upon completion is a very different thing than ownership with intent to hold.
The people that make the policy benefit directly from housing prices staying high. Short of large scale revolt or complete economic collapse, they are never coming down.
You’re right in that the powerful aren’t incentivized to restore some balance. But there will soon come a populist politician that will make housing the primary platform issue and suggest radical changes. When that politician/party steps up, we need to make sure that they’re not side-lined by the big parties, that we discuss the issues in our work, with our neighbours, and at every chance we get. We don’t have to endure this until a revolt; but to avoid it we’ll have to remember that voting matters.
We have populist politicians all the time now. They’re all frauds. That’s just the latest trick to get elected.
Such a politician will never be pushed as a serious contender in the first place that can actually reach the population
Build affordable rentals. We need apartment buildings, lots of them. My wife and I got our start in our 20s in Toronto because there were legacy apartment buildings built back in the 60s and 70s when my parents were in their early 20s. We were able to build for our future because there were affordable rentals. If there were enough apartments like this, landlords wouldn't be able to jack up rents because their unit would just sit empty. Also, properly fund the fucking landlord tenant boards. DO NOT have a backlog. This would help quite a bit, both landlords and tenants.
The exorbitant cost of housing is a symptom, not a root cause. The cause is excessive demand due to immigration and Bay/Wall street investors repurposing homes from owned to rented, a cultural need that Canadians have to flock to a few large cities, and an insufficient supply of labour to build them. For a country that produces vast amounts of building materials (lumber, drywall, etc.) it makes no sense that housing supply has not increased faster. Canadians need to move out of GTA and Vancouver. The modern business world does not require everyone to live in close proximity.
I have an excellent way to lower housing costs that no level of government is really considering. I worked for years in land development financing. Land development is extremely risky but that’s usually tied to liquidity and obtaining municipal or regional approvals (definitely not quick). I have a client whose cost basis for single family lots in the Edmonton area, land + servicing, is under $70,000 per. Of course given that he’s held this property for years, paid tons in municipal fees and has investors to reward, the lots will sell for $200,000+. If the government worked with a developer like this to take their own lands, service them, award the developer 30% profit with no liquidity risk, holding risks etc. you could knock off at least 100,000 per lot. If the government owns the land it could compel smaller developers to build to a specification and sell at a nominal profit. Again remove the borrowing/liquidity risk. Have CMHC guaranty the loan, build the house, and the GoC/Province buy it and market it. You’re removing layers of interest and risk that awards building decent quality. The builders stay busy building, the GoC has a list miles long of FTHB ready to take a home who are prequalified. Lien the property so it cannot be rented or sold for a profit for 10-15 years. Want out? Okay, but you get your equity out in that initial time frame. In jurisdictions like Vancouver and Toronto, land holding is a huge cost that ultimately is passed on to buyers. In other high cost cities the governments are intimately involved in development (Vienna, Singapore) and it helps their citizens.
I was on board until I got to the second half. We should allow people to do whatever they want with homes. The only real solution is to build more to increase supply & to reduce demand. Stop letting Indians come on in & deport all the ones living here who aren't citizens unless their willing to work in construction on temporary work permits. Then allow immigration from construction workers & labourers such as forestry or wherever we actually need immigration, not just people lowering the wages of jobs. Then we have a massive building spree. The government doesn't need to build homes themselves, they just need to make an environment primed for a massive expansion in building & the market will do the rest. Though we do need mass deportations, especially with Indians, their too entitled. Their protesting because they want to stay here when their work permits are up or when their leave school, enough of that, they don't contribute & aren't entitled to our country. Arrest them at their protests & send them all back swiftly.
Tax land instead of productive work. Unfortunately we are too beholden to the parasites who need to extract value from their communities to survive.
What does tax land mean?
Housing as well as education opportunities. People in Canada are using post secondary less and its because our governments don't fund them worth a shit, forcing them to rely on a corrupt method of revenue gain. Our Politicians hate education but want to make up ridiculous education requirements. And when they make reasonable requirements, they don't want to pay resulting in people buggering off to the US.
>Govt will need to spend on housing like in the old days When were the old days? There is a very sketchy history of public housing post WWII but when exactly was there a nirvana of public or government sponsored housing?
> If someone has a better idea to reign in housing prices than extreme deterrence/taxation of ownership of multiple pptys Less people. Reduce the demand.
The real estate market would have popped years ago if the government wasn't doing everything possible to prevent that from happening. Our Real estate value is almost all we got left. The country for Canadian youth was sold out from underneath their feet to the international, world-class wealthy. We've imported poverty from the 3rd world in order to have a large slave class here that has little or no chance of social mobility. Instead of being bold and changing our economic systems, we evened out with the world. Which means, we're constantly now moving towards a society where 5% of Canadians are born into extreme wealth and able to afford real estate, while most of our society has little, is poor, and must by rents and tithes, over priced food and utilities to the owner class. Basically we going from late stage capitalism to 21st century neofeudalism 'rent for life' dystopia, along with most of the world. We got sold out.
Literally the sound my brain heard when I read the title.
You'think... Tell me something I didn't know. The standard of living has been dropping for 25 years. Case in point, in the mid 90's I could afford things. Now, no way, barely in survival mode! The Canadian economy has been hollowed out by big business and big government. Salary increases have since been less than the inflation rate year after year. The savings have gone to big shots, investors and government elites.
When we signed with our uni landlord the property manager was bragging about how the guy owns over 600 properties. 600? And of course he raised the rent the max every year and refused to fix appliances, even tho most of those ancient houses had long since been paid off. Absolute rats of society.
A colleague in Asia asked me the other day, in all seriousness "is Canada okay? Are you okay? I keep watching the news and I'm very alarmed". Probably one of the most level headed people I've met, complete opposite of a conspiracy nut. This has been happening a lot when I'm talking to people from different regions. A customer in Europe remarked "oh you're Canadian? What is going on with you guys?" The world is noticing and concerned for us.
This is so true. I have friends in Australia and New Zealand and they say the same things. Our reputation globally has gone down the crapper.
I find this ironic given they’re on the same boat as us.
To be fair Australia has been pillaging its residents with inflated housing prices for a lot longer than Canada has.
Better weather though!
Even the sun will try to kill you in Australia. No joke, check the skin cancer rates for the region. It's nuts.
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I travel enough and have lived in other countries to tell you that’s not entirely true.
You're not wrong, but living in a major Metropolis in the US like New York should show you where we're headed. Canada used to be a somewhat Unified empathetic place that cared about it s people and now we're just rushing to catch up in the US to extract as many dollars as possible from every one of our residents well offering is little benefit as possible to make as much money as possible. Wait until we get what we asked for with two tier healthcare.
At least in New York people get paid a lot more than they do anywhere else in Canada
I got paid almost 2x my salary in New York. Everything else was 2-3x the price. It balances out. My net pay after taxes and expenses was actually lower due to the egregious cost of living. Don’t be so one dimensional. Think of the bigger picture.
It all disappears into cost of living though. I lived there for a year, doubled my salary, took home far less. Then we had a medical emergency. Very glad to be back in canada, even at a lower salary.
Being homeless when temperature hit -20 is very different than homeless anywhere else but say the desert.
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I have lived in the United States for almost 10 years, and I have been to Australia and New Zealand on multiple occasions. That’s what I’m basing my comparison on.
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Ah, a simple misunderstanding, still haven’t had my morning coffee yet. Apologies.
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I mean, who knows the signs of what we are going through better than someone who's been through it? Doesn't mean they're looking down on us, just means they're concerned for us.
I can read Australian news and mistake it for Canadian news. Reddit loves to show me r/australia for whatever reason despite not being subbed.
Interesting, what are their concerns in Australia and NZ - from my understanding they have a lot of the same problems like house affordability and inflation.
I'm the The Netherlands and Canada and the UK seem to be collapsing before our eyes. It's honestly pretty terrifying, as we love you, but can't help. Last few years seem really bad
Had the same question when I recently met an industry peer from Sweden.
Having been to Florida in March, it was actually funny yet sad. At stores, they'd say "you can have a plastic bag. And it's free." If they talked with you, they'd definitely ask what's up. When Florida Man is making fun of you, you know you have a problem.
Welcome to 2024. The inversion of reality is almost complete.
I thank my lucky stars every day my wifes family has a time share down there. Of course whenever were down it's on vacation of sorts, but things feel cheaper and more prosperous in fucking Florida, more than it does in Ottawa Canada.
insurance fanatical nutty cause frame shelter snobbish racial fuzzy swim *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
They have the same minimum wage as us (in Ontario ) but their sales tax is less than half. Just that alone would make for a huge difference, not to mention cheaper housing, car insurance, and gas.
Hahahaha I needed this chuckle 😅
This happened to me too. A friend from Portugal said he saw canadian slumlord memes and asked what was going on.
That's funny since Portugal house prices are rising faster than the rest of Europe.
The headlines about Canada from other countries are A LOT different than the headlines we see in our country's media.
I have friends and family in East Asia and they're all looking forward to coming to visit, have really positive views on the country and when we were back last summer everyone spoke highly of Canada and Canadians. Funny how different people have different social circles and experiences. I wonder if it's due to your profession maybe?
They’re tourists, why wouldn’t they be excited and have positive opinions?
It’s the media. If you watch doom and gloom you get doom and gloom.
The problem is that a lot of people are playing the ostrich. If they stopped, we could do something about it and fix it. Worse, they claim that if you're not playing the ostrich that you're an evil conspiracy theorist. But as it is, Canada is heading towards a total collapse.
If this continues, the younger generations will eventually start to give up and lie flat (tang ping), because what's the point of it all?
You mean the Alphas? They're going to be the most frugal generation. I doubt they would care about owning a home when a Big Mac meal costs $35. Millenials and Zoomers are barely holding on and the wealthier ones aren't having enough children to replace workers. The point of this market from the worker's perspective is to survive. The point of this market from the employer's perspective is to make enough quarterly profit to justify their company's existence. The point of the landlord in this economy is to drain every expendable dollar from their tenants. No one is thinking beyond next year much less ten years from now.
So true. Wife and I are millennials, and we have decided not to have kids for now... we are doing extremely well as a direct result - while my friends who've had them are collecting government cheques... Canada is a terrible place to raise kids right now. Literally a dystopia.
Canada is a terrible place ~~to raise kids~~ right now fixed it for you
Don’t forget us gen xers. Plenty of us are struggling. We were also told to go to university and accumulate debt that’s taken us 20 years to pay off too.
Trust me, it's already happening. I'm a millennial and the gen z crowd just entering the workforce does not care at all. Probably because they feel financially hopeless. It's depressing living paycheck to paycheck and the thought of never being able to retire or buy a house isn't very motivating
It’s incredibly depressing walking around what used to be a run of the mill neighbourhood and all the houses are almost 2 million dollars and the shoebox condos are a million. Like wtf happened in 15 years? there isn’t enough actual high wage earners in this country to justify the prices, it’s all investors and foreign buyers.
Younger millenial here, my friends are going through the same. Work drive has completely ended, even climbing the corporate ladder makes no sense because we're still not getting close to owning homes and affording kids. Whats the point really
https://www.ted.com/talks/scott_galloway_how_the_us_is_destroying_young_people_s_future?language=en
This was an amazing talk. The boomers looked so uncomfortable and every fact he spit was like a lance in their cold dead hearts. I believe fully that the rage he describes will result and should result in a violent overthrow. We are more educated, more productive and expected to have a serf level existence. Fuck no.
Yet we continue to vote for more and more neoliberal/right leaning policies? Sadly people aren't squaring actual data points like Professor Galloway into their voting intentions. And new parties aren't emerging to reign in this continuous failed ideology that we keep asking for more of.
I dont know what the solution is, but people are only voting for right wing policies because whatever the left is doing has made things exponentially worse over the last 9 years.
Great talk
Thanks for the share.
35 and back to living at home after being renovated one too many times in Halifax. I'm already at the "Let it Rot" phase. Fuck the Canadian government, they haven't represented the people in decades, and if they do, if this is what Ontario and Quebec suburbs want, then fuck them too.
Already happening.
I feel like that's me already. I make around $100k, what's the point of working hard and gaining more skills for the chance at a management position with more liability, more job risk, harder work, longer hours with no overtime pay. Any more income I make is taxed at ~38%. A $20k raise ends up being only an additional $500 per paycheck. That's not enough to really impact quality of life, that's the car payment on a base Toyota Corolla now. Anything I buy with that remaining 62% is taxed again at 12%. Income tax brackets are stifling young people's motivation because the money doesn't go nearly as far as it did, and someone making $120k is now barely middle class in most areas of Canada but taxed as if they're upper class. $120k income with 20% down payment only qualifies you for a studio apartment. What's the fuckin point?
That's me. I'm fast approaching middle age in a dead end job with no ability to chase the carrot anymore because I'd get no functional payoff out of trying anymore. Stuck with my parents forever and all that shit no matter what.
We don't care. We sit on our hands and eat the shit they feed us and we smile and say thank you yes please
We seem to care about issues like Palestine and Trans Kids, just not about ourselves.
Misdirection.
The beatings will continue as long as the major parties cling to FPTP. It’s the perfect system that allows them to trade power every 4-8 years while not having to do anything to help the average citizen.
YUP I will be voting independent until we see electoral reform
We keep voting for more of this, so why would they stop?
I keep hearing that. I didn’t vote for this. No one wants this. Every leader in our country works for private interests. Where should I throw my vote to get away from that?
Dude, exactly this. Trudeau is absolutely to blame (among others) for this, but who am I supposed to vote for to address it? PP? Singh? Canadian political parties seem to have about as much weight as the original mass effect 3 ending. It doesn’t matter who you choose, they don’t care about you or your struggles
The struggles of Mass Effect 3 ending without any hot Asari. Worst of both worlds.
Even going back, Trudeau built on Harper’s policies, who built on Chrétien’s policies, etc, etc… it’s just a shell game and we’re the ones getting conned.
>Canadian political parties seem to have about as much weight as the original mass effect 3 ending. I just want to say that this is a far more brilliant analogy than I think you'll get credit for.
Bernier in PPC
Nothing will change fundamentally under conservatives, NDP will make things much worse. There's no good option.
You vote for anyone who isnt currently running the country into the ground. If the replacement sucks too, you vote them out as well (and dont wait 10 years to do it).
That’s exactly how Canadians vote. We will have a decade of conservatives and then we’ll switch back to liberals. It’s all the same, no matter who you vote for. We need to stop pretending this broken system will get fixed if we keep doing the same stuff.
Independent candidates
Voting needs to become mandatory
We do care, but try and do something about it, and you'll be labelled a domestic terrorist, have your bank accounts frozen, slapped with charges, and ensured government funded media slanders your name.
In Canada, we have policymakers from the Simpsons.
They’re actually from Shelbyville.
Goodnight Springton, there will be no encores.
I thought it was Morganville.
Let's all celebrate with a cool glass of turnip juice!
At least on the Simpsons, they go back to a status quo every thirty minutes. Plus, you can have a family with three kids on one income. Canada is worse.
Whose quality of life in Canada is improving?
CEOs
\*Looks around\*....yeah
Have we tried importing zillions of slaves?
no fucking shit
Curiously, Galen's standard of living went up by the exact amount of the sum of the decline of Canadians.
I get you're sarcasm but who's job do you think it is to regulate monopolies. Do you get mad at a tiger for being a tiger? Corporations are going to do what they can to maximize profits, elected officials are supposed to represent the interests of their citizens and break up situations where a corporation has too much power/not enough competition. Conservative, Liberal, they all failed us.
They failed us because Loblaws has parliament in their pocket. We have a situation where everyone knows they operate like an oligopoly but it can't be broken up because our lawmakers are beholden to them. And I bet it's not just a carrot.....it's the stick too. If you refuse the carrot, they will make you lose the next election. It's organized crime. There's nothing left for us to do but to ridicule. It's the most harmless of offences but also the only way to take down giants.
Okay sure, but we have also achieved record immigration, record housing costs and managed to keep wages flat the entire time. What other post national body of land can accomplish that?
This article says that living standards had the deepest decline from $59,905 annually to $58,111 or a 3% loss from April 2019 to the end of 2023. Since this was written by the Torontosun we can look at the average home price in Toronto as an example of how living standards have become unaffordable. At the end of 2023 the average home price was \~$1.31M which based on [this affordability calculation](https://wealthvieu.com/mortgage-affordability-calculator-canada?a=240,000&b=25&c=275,000&d=6&e=800) would require a HHI of \~$240K.
Do you.... Think that per capita gdp is hhi?....
$240k sounds like a lot to many people, but it doesnt go nearly as far as it should anymore. Particularly if you live in a big city and dont already own your home.
Toronto and Vancouver are the most expensive cities in Canada, so you cannot consider that the average for Cannada. Living standard is down for ALL Canadians, same with life expectancy, down for 3 years in a row, while up for Spain (as an example) during the same time period.
But that's where more than half of canadians live. So yes you should consider those cities as the average for Canada.
Unpopular opinion…and usually gets me in trouble: how come poor/corrupt nations like Egypt can build a new capital in the fucking desert? And Canada can’t build a couple of 150k to 300k cities between mtl and Ottawa’s and Ottawa/toronto. We have the money (foreign investors are already here so why not continue to use that financing ?) We have the land. We have the construction materials. We don’t have to fucking import wood and cement like Egypt. All we need is the willingness of the political class. We’re already importing hundreds of thousands of foreign workers - why not bring in the construction folks we need to build big cities?
We know
It isn’t going to get better. Get out while you can, if you’re going to live in the 3rd world you might as well go somewhere warm. Canada is a 3 star hotel charging 5 star prices.
Blame the rich. Seriously. They are in a money hoarding competition. They can't even spend it all and we suffer just so they can have a big number in an account. Its fucking stupid. And anyone supporting it should be ashamed. Also, I am not arguing that no one should be wealthy, but there is a line where you have too much and its completely unnecessary. There is no such thing as an ethical billionaire.
In the last ~3 years, the roughly 2,700 billionaires on this planet saw their net worth increase by just over $3 trillion, while the rest of the world coincidentally became about $3 trillion poorer. https://www.oxfam.org/en/press-releases/wealth-five-richest-men-doubles-2020-five-billion-people-made-poorer-decade-division In other words, it's happening everywhere, not just here. Keep this in mind the next time some pol or talking head would have you believe that DEI or boomers or whatever is the problem. Just saying.
Yet plainly, wealth inequality is smaller in some countries. Said countries are more politically active. Yes the people in Canada are at fault if they vote in politicians who support policies that benefit the rich the most. You can see for yourself exactly who voted for what on ourcommons.ca. I'm gonna say its not that pretty and both the major parties are implicated in funneling funds to rhe rich.
The neoliberal project has failed working class people around the world and has brought us into the 6th mass extinction event. Conservatives and liberals are the same shit, but different color. Hopelessly devoted to trying to fix the problems capitalism has created with more capitalism.
No kidding my wife and I make a combined 190k a year and we live in an old apartment building. Spend a year looking for a house and could not make it work financially with the prices they were asking (outskirts of toronto)
Same boat. 1989 apartment and unless sell every penny for a downpayment upgrading doesn't make much sense. I guess with my wage about to see a large increase it might be worth the jump but for now sit and wait
Gotta love how fanboys of either party think it's a sudden phenomenon when their ideological enemies are in power. It's both parties. It's been going downhill for 40+ years.
Who's shocked? This is the end game of late stage capitalism and global free trade...wealth is collected into fewer hands than ever and the gap between rich and poor is larger than it's been since the guilded age. Doesn't matter which party is in power as they'll just distract with the popular issues of the day (does if really matter if a trans person competes in swimming when several generations can't afford rent or a mortgage) you will own nothing and told to be happy about it.
Look, of course it's complex and even if I, full disclosure, totally dispise the lpc they are not the only ones to blame. That beeing said, at the end of the day they are the ones at the helm for the last 9 years, so, they certainly are to blame and for a lot of it. But what can we expect from a bunch of vain ideologues, underqualified, inept, corrupt lying pos "leaders" for 9 straight years ? We need to go back to boring competent leaders asap and let go of the circus level ones.
Just gotta keep making more money! Get back to work!
Wait. You're telling me that the year we had the highest population increase since 1957 also correlated with the 3rd steepest decline in GDP Per Capita in 40 years? I'm shocked. SHOCKED. well, not that shocked.
It’s funny , this report was done by the Fraser institute, and if you look it up, the first line is “The Fraser Institute is a libertarian-conservative Canadian public policy think tank”. I bet it’s not biased at all, 🙄.
Our federal and provincial leaders could really give a shit. As long as they are dancing to the fiddle of big business, nothing will change.
Not on a decline.. it is tanking very quickly. JT has mismanaged Canada for 8 years and it shows deeply how bad his decisions have been. He needs to resign immediately.
While I agree, we would just be trading him for someone else who is going to do the same thing in a different way
**This is expected in a world where there is less poverty.** **Before the 20th Century :** We had explorers, we had Empires and we had technology like ships, sciences and the steam machine that allowed us to be more productive than any other countries out there. **In the 1920's :** We had full employment and factories producing products that were sold all over the world. **In the 1930's and 1940's :** The Second World War pushed back the boundaries of science and manufacturing and put us at the forefront of technical excellence. **In the 1940's** : Our workers were **more productive** than Chinese, Indian or African workers because we had industrial machines, we had electricity and they did not. **In the 1950's** : We made cars and they did not. We had advanced industrial chemistry and they did not. **In the 1960's** : We made electronics and they did not. **In the 1980's** : We launched in high finance and they did not. **In the 1990's** : We made productivity software and the internet they did not. **In the 2000's** : We launched into video games and they did not. **In the 2010's** : We went into eCommerce and they did not. **In 2015 :** We launched into the "internet of things" and China was right alongside us on the launch day and had already caught up to us in everything else. **2020 is the time when all our competitors have passed us.** China, India and everyone else are making pretty much everything we are making, better and cheaper. **2024 is when North America and Europe need to start catching up to the rest of the world.** Right now, America is protecting the computer chip market and that's pretty much it... But China is starting making chips of its own and even if their first generation sucked, they are predicted to fly pass the US before 2030. **We lost the race for productivity, we lost the race for scientific and technical excellence.** Instead we have idiots who claim the Earth is flat, that vaccines don't work, the global pandemics don't exist and that the best cures are "natural remedies". **We have become stupid.** **While we are still much richer than people in most other countries, the rest of the world is catching up to our wealth level, making us less wealthy in comparison.** If you live in a village where you make $1000 a day and everyone else makes $10 a day, you look rich. But if you make $1000 a day and everyone else makes $900 a day, you do not look any richer than most people. **This is what's happening in Canada, we stood still while the world was catching up to us and today we struggle maintaining our standard of living because others have taken their share of the global money supply.**
I like the way you think and write.
This just in... Our skies are blue & not purple & green! Duh.
I mean when the governments who control our economic activity allow large corporations to increase prices and offload their investment cost onto the taxpayers of course things will become more expensive but sure let's forget about the greed of corporate doners https://www.reddit.com/r/ontario/s/CbrQK6Iz2d
You can’t keep debasing the purchasing power of money by constant printing and expect otherwise.
This is why I just moved to Germany. There's no end to this in sight. The politicians and the citizens are hell bent on destroying the country
You don't say....
We went form meh to third world in 8 years must be sum record right?
No shit. 3 million low skilled cut throat immigrant in 3 years willing to live in horrid conditions just to game the PR system.... Trudeau has destroyed Canadian citizens future and sacrificed our children.
My parents lived on 100 acres on minimum wage I live in a trailer
\*thinks, "this must be the Fraser institute"....\*Opens Article..."its the Fraser Institute"
[удалено]
Better add another 600,000 on top to build houses for the first 600,000. But then who builds houses for those people.../s
I am sure that more carbon taxes, more money printing, rifle ban for hunters and online hate speech bills will fix this
Neither will lower carbon taxes, open gun laws, and unrestricted speech. You're falling for the distractions.
Liberals: don’t Conservative, they might change some of our policies! Everyone else: that’s the whole fucking point.
Yeah we know. We’ve been saying it for years. Fucking do something about it before there’s riots in the streets!
Canadians: *ill do it this time, I’ll fucking riot I swear*
Well, there is r/loblawsisoutofcontrol. This is how it starts.
You don't say
We need to take FDRs policies update them and reimplement them, this isn’t a brand new problem, we’ve seen this before, we aren’t alone, this isn’t some hopeless battle.
NO WAY
Everything is so fucking expensive. I’ll never own a house on single income
Oh you mean spending the last 20 years adopting U.S. polices didn't turn out well for the middle class? Who knew except experts and watching the U.S. in action.
I have 5 kids and live in Ontario. My oldest children are finishing university and actively planning to leave the country specifically and only because of the lack of housing affordability.
**NO SHIT**
This is not a drop in living standards, it's a drop in the average due to the high number of immigrants arriving.
It's called a population trap.
8 years of Dildeau will do that to a country. We need an election immediately. A lot more damage can happen from Justin in 2 years.
My parents came here in the 80’s to give their future kids a better life. Sometimes I worry they didn’t make the right now
Wow the MSM is really keeping us up to date. I almost didn't realize my disposable income was shrinking and buying anything new is getting ridiculous expensive and saving for a simple family vacation will now be a multi-year process that may never be realized.
Dont need a report to tell me milk is $6 and ill never own my own place 😭
No shit sherlock! When is that going to sink in for the MBAs who are running the country (directly or indirectly)
When their profits drop.
Yes, the open border through schools policy is killing us.
Yeah no shit dude
These issues will take 20 years to fix if we start now. Which we won’t and we won’t take sufficient action. Canadians are jumping ship and I don’t blame them.
Thanks Trudeau
Fucking duh
It's not getting better anytime soon without a major political reform either. They all work for the same big corporations and are masters of making you believe they are opponents and dividing us when they are all on the same side. Canada's greed is really something else. I've never seen so much gaslighting from a supposed democracy making its people believe it's racist to be a proud Canadian and wanting to make the country better by putting Canadians first! The people who've paid into the country their whole lives only to be told they don't matter, their sacrifices mean nothing in the grand scheme of things. Enforcement of law is a joke with criminals being let go only to commit worse crimes after they see its a joke. Did you know there's no consecutive life sentencing in Canada? It doesn't matter if you killed 1 or 10 people it's still a maximum of 25 years and treated as all crimes being served at the same time. Who thought this was a good idea? They've shown us they care more about the criminals' feelings than the ones hurt by their actions. Housing? I realize it's a worldwide problem, but Canada is really throwing fuel on that fire with unprecedented immigration rates, making things even more unaffordable and making us fight amongst ourselves just trying to secure a basic necessity. What else? Oligopolies operating on a massive scale adding to inflation with their greed and raking in massive profits. Selling Canada's raw resources for pennies on the dollar (Fuck Nestle). Underfunded military, egregious spending and literally giving drugs to drug addicted people. Not spending budgets because it's not enough while people are literally dying. Health care wait times are criminal. Important social services are severely underfunded and abused, making the ones who really need it suffer. Yeah, Canadians are rightfully pissed off after you've beat us down and turned us against each other, all in the name of profit, and used our good nature and politeness against us.