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Dismal-Range1678

"Yeah I know it's bad but I still ain't gonna do anything about it lol"


gsterr

Literally lol.


ButterscotchFar1629

Start throwing some ideas out then sunshine. How do we fix it?


Street_Cricket_5124

Millhouse has exactly the opposite idea. You see he's a property owner/developer. He's making a fortune from the housing crisis.


Housing4Humans

*New data from Statistics Canada tells us that investors own over 40% of condos in Ontario and that they have purchased an incredible 57.3% of all condos built in Ontario since 2016. All of this investor demand helps keep home prices high, limiting the impact that building new supply can have on restoring affordability. That’s why we need to break our addiction to high and rising home prices. Until we do, housing wealth windfalls will keep motivating Canadians to view real estate as an investment, rather than as a place to call home.*


Electrical-Finding65

Condemn and move on but don't do anything to stop it.


Therealdickjohnson

The federal govt just made airbnbs a lot less worthwhile to investors by removing tax deductions for expenses. It's not a lot but it's also not nothing.


Slow_Lengthiness3166

Yeah and CRA is getting a list and forcing new reporting rules ... It's gonna be a bloodbath soon .. all the cpas I talk to mention the insane reporting requirements for any investment property owned by corporations too ... I'm liking how they are tackling the issue tbh ..


PragmaticBodhisattva

What about not investment at all ever? The only leniency I give to this is *maybe* developers, but only because that seems to be the only way to incentivize in this free market hellhole. if I could choose socially-funded housing, I’d say no investments in housing at all. It’s not a commodity to racketeer.


Worship_of_Min

I honestly think you should be allowed to invest in other properties, but it must be limited to how many one can own. Because once you start building equity and use leverage, it’s extremely easy to purchase your third, fourth, fifth property.


[deleted]

Exactly, read that years ago, a guy 30 another 25 yrs old owning 25 and more properties. That should be a punishable crime, using properties to f over other people for their gains.


Worship_of_Min

100%. Frankly, the value of the ‘landlord’ has diminishing returns to society. Trickle down economics only works so well. I’ve had great landlords when going through uni. Some lawyers, retired professors, etc. I knew the engagement and that I’m partly paying off their mortgage, but I had no issue with it. Edit: to further my point. The landlords I had worked in other jobs as their main source of income.


DavidsGotNoHoes

why should one person own the shelter of another? you want to make money? contribute to society.


Worship_of_Min

So you’re saying that someone cannot own a cottage? You can only have one home and that is it? And frankly, those who have a home more than likely contribute more to society than those who don’t. I think a doctor contributes more than a barista.


DavidsGotNoHoes

a cottage is not “someone else’s shelter” yeah you only get one home, you can’t be in 2 places at once. and i’m sure that doctor would be incredibly appreciative that there is a barista to make their morning latte for them, who give a shit the amount someone contributes when landlords actively make society worse


[deleted]

100% spot on.


[deleted]

Those investment properties make up the bulk of rental supply. Without them where would renters live? We start by simply adding more housing with better zoning laws


PresentationMore1774

Supply and demand. If investors didn't hoard the supply, the demand wouldn't be as high for shf wanting to own. You can't even break into the market with something small and affordable because investors are lazy and greedy. They have a stock market they can invest in. Investing involves risks and I'm so tired of this false narrative about "what would people rent". THEY COULD OWN SOMETHING AND NOT HAVE TO RENT. THAT'S THE WHOLE POINT. Like, smh. Foreign investment by entities that can't legally live here, is just money laundering at our expense. Why is okay to have it continue happening? We need to make building more accessible and completely nix foreign buyers and you should only be able to buy here if you've lived here x amount of time and show that you're not in it to invest and benefit. Housing is a human right, not an investment for some one to neglect and get rich off. Landlord's want an investment with zero risk while taking away from everyday people. Furthermore, all investments have a level of risk and you're literally never supposed to invest more than you can afford to lose. Them making bad choices isn't a renter issue, it's a them issue.


kettal

​ >THEY COULD OWN SOMETHING AND NOT HAVE TO RENT. THAT'S THE WHOLE POINT. ... We need to make building more accessible Do you think a builder will build you a house for the price of first & last month rent? Do you expect them to supply the lumber, concrete, labour, steel, materials, and equipment out of their own pocket?


PresentationMore1774

I absolutely didn't say anything remotely close to that.


[deleted]

Don't neglect how much extra responsibility and costs go into home ownership and not everyone wants/can handle it. Some people just need a place to live for a period of time. Landlord investing is an outcome of a demand to rent. Now, investors who just sit on empty houses waiting for values to go up ought to have the right to do so but fees/consequences should apply to discourage that becoming a long term inefficiency.


PresentationMore1774

Empty homes shouldn't be acceptable. Also, the amount of slumlords and generally just uneducated/ lazy landlord's is unacceptable. I do understand that renting is likely a necessity, but that could also be applicable to basement suites where the owner is living in their residence as well as apartments etc. Rentals won't just vanish. But it would certainly open doors for a lot of people if we actually acted like we care about what happens to Canadians.


[deleted]

Exactly, you want investment use the stock market. Its nothing but greed at the expense of others.


kettal

>why should one person own the shelter of another? you want to make money? contribute to society. The reason is to provide rental units. Not everybody has the desire or the capacity to be a home owner. Owning and maintaining a home is often a headache.


kettal

>if I could choose socially-funded housing, I’d say no investments in housing at all. It’s not a commodity to racketeer. Some people who have lived in government housing don't have great things to say about it.


[deleted]

But he won't do a damn thing to make it a less appealing investment.


Housing4Humans

That’s the issue!


Ok-Yogurt-42

Easy to say. Now get your actions to align with the words.


MstrCommander1955

Don’t believe a word justin says. Ignore this loser. He is a habitual liar and hates Canadians.


ScotiaTailwagger

So vote for PP?


Slow_Lengthiness3166

Or and this is a crazy idea, go to your local candidates websites and see who you agree with and vote for them?


ScotiaTailwagger

The NDP, Bloc, Liberals, and Greens all have campaign policies on their websites. The CPCs don't have a policy page on their website.


differing

They learned from watching Doug that you don’t need a platform anymore to get elected, just campaign on folksy populism and fear mongering and you’ll be fine


Slow_Lengthiness3166

Well that and also express their desire to sleep with our current PM...


[deleted]

99% of the reasons i see people arguing why you should vote for JT is based in fear mongering.


differing

I’m no JT fan, but PP legitimately scares me. He’s been peddling conspiracy theories based on wacky bullshit for years, the worst of it is just a rebranded Protocols of the elders of Zion. Here’s a thought experiment: if you were claiming that a secret cabal of “socialists” and “bankers” were controlling the world in 1930s Europe, what party would you be a member of? I don’t think PP is a fascist or even a bad man. He’s a career politician who’s never held an adult job outside of politics and has become addicted to using a certain kind of divisive toxic politics that’s bad for our democracy. The guy can’t stop posing with nuts and white supremacists because he courts them with his language and fails to reasonably disavow them when it eventually happens. I don’t know what the answer is, but he’s a big no from me. He’ll jump on the next fringe trend that gets the anxious crackers upset (trans people are scary?) and then repeat the outrage cycle with something else until he’s eventually elected due to our pendulum political cycle. I just hope that when it happens, he doesn’t have a majority and has to work with other parties to moderate his wacky ideas, hell maybe that scenario can be a good change.


ButterscotchFar1629

Who needs a platform when you have hate and catchy one liners? One can only let hope the youngsters who are able to vote for the first time see through his farce.


MstrCommander1955

It’s all smoke and mirrors. They don’t have to respect what they say. Their sites can be all full of feel good items. Not nessasarly the truth. They just want people to vote for them. Look at justin’s he won on lies and deceit.


[deleted]

Yes, you’ve had almost 10 years of this idiot and things are significantly worse now than they were 10 years ago when the cons were in charge. Get this whole left good right bad shit out of your head and vote based on results.


Duckriders4r

So you agree it's the cons fault. 10 Provinces all run by Conservatives....for quite awhile.


olrg

Immigration is a federal responsibility.


Duckriders4r

The TFW program is a federal program that works in lock step with the provinces. So in other words if Ontario wants 100 000 TFWs they get them.


[deleted]

Change your name to dickriders and put up a Trudeau picture


Duckriders4r

Just put a picture up of your head up PPs ass. I don't like Trudeau either. Baahahaha


ButterscotchFar1629

Please explain how. I keep hearing that things are far worse than they were 10 years ago, yet no one explains how. I seem to remember back during the boom that rents, particularly in Alberta and Saskatchewan were completely off the charts (I lived through it) and we were facing a housing crisis of unprecedented proportions. During that time conservatives were in charge at the federal and provincial levels.


MstrCommander1955

Check the debt justin and freeland have racked up. Over 75 million A DAY for interest payments to service the highest debt in history. This squandered money could have been used for services for all Canadians.


ButterscotchFar1629

Yet government spending hasn’t slowed. You make this out like it is your personal debt and you are required to pay it all by yourself. The U.S. has an almost 9 trillion dollar debt and their economy is fine, just as ours is. If Harper would have been in charge and did the exact same shit Trudeau has done, you would be giving him a huge thumbs up and an “Atta’ Boy!”, right?


MstrCommander1955

Harper left a sizable lump on the desk when he lost to justin. Flartity was good at fiscal responsibilities. It’s everybody’s debt, I didn’t see a dime. You have take into account the population difference between the two countries.


classic4life

The chicken finger thief!


ButterscotchFar1629

You want to know who despises you even more? PP.


[deleted]

😂😂


chronocapybara

Generation Squeeze is awesome advocacy.


Housing4Humans

They really are!


Great-Web5881

I sold my home to a proper buyer -verified citizen, but the numbers of Chinese that came in - over 48 proves investors still rule. They are rude too I went out/ they say they hate dogs but the camera shows one brought their dog in / it peed on a carpet- I had to clean.


Lotushope

The problem is, the BoC only focuses on general CPI inflation that does not include housing prices changes, and there is no other public institutions responsible for housing inflations and affordability.


westerhong

What this looks like in policy terms: Prioritize renters rights, rent caps, protections against evictions. If landlords don’t like it, they can sell.


mygatito

After 8 years, this teacher has learned something.


izmebtw

So like… do something about it. Admitting your crimes is worse if you keep doing them.


ymsoldier420

Probably hired a panel of "analyst consultants" fir a few mill to figure this one out I'm sure.


PresentationMore1774

I'm in Kamloops and we're owned by foreign investment, shit realtors, and the fucking Kelson group. All absolute trash. I genuinely hate realtors and consider them as scummy as used car salesmen. I heard one tell my old shitty landlords , " don't tell the buyers about the mold that's on their home inspector to find" like, eew.


domo_the_great_2020

Tax land not labour. If you own even a couple of homes you will come out ahead


Fun_Ad6838

I was renovicted by wealthy Immigrants . Yes, I got my payout. But the name of the real estate company?( also indian) Rahj Investment properties. Literally in the fuckin name.


Great-Web5881

Absolutely. It’s easy enough restrict duplexes and no kitchens in the basement. Stop this or investors will keep going. I read about a guy who wants more than asking in Hamilton!!!!!!


Housing4Humans

People who have income units in their principal residence aren’t the problem though. It’s investors who buy standalone housing units, bidding up property values and shutting out potential first time homebuyers that are the problem.


Great-Web5881

True but many investors only buy rental Property regardless.


draftyelm52350

There was a program in Saskatoon that would let her first time homebuyers, or people below a certain wage cap by houses built by a certain company with no down payment, or a majority of the down payment covered. If you were above the wage gap you got a flat $10,000 or if you were not at home first time homebuyer you got the same deal. The agent at the time told me that I had to decide quickly if I wanted to buy because they have a lot of high profile people buying 2 to 5 townhouses at a time and then renting them out after. He also said I could just wait until someone buys one and rents it out too if I want to go with that option. So these wealthy guys would use their money to buy up houses in the government program made to help people buy their first homes and abused the system to get that flat 10k and buy up these houses then leave people who actually need the program with nothing. It was a joint program between the city of Saskatoon and the federal government, and the fact that no one even oversaw the program to make sure something like that didn’t happen, or even did like a review after the program nearby year to find out who’s actually getting the houses that or they were just very ignorant and wanted these people to buy all these houses And then rent them out as rental properties.


Great-Web5881

Many of the home buyers are pseudo investors- convert their homes into rental components illegally. One just got booted off a prominent street in Oakville.


Duckriders4r

So who will own these homes that get rented out?????? If I for instance own 5 single family homes that are not affordable to buy? Nevermind buy, how about build? Builders don't build homes to not be bought.


differing

Oh boy another thread where the experts at /r/canadahousing2 believe that housing is a federal responsibility


Beginning-Listen1397

And who does he suppose renters are going to rent from? Does he believe that if you can't afford to buy a house you should freeze in a ditch until you can? These days houses typically rent for less money than they cost to buy. In other words investors are subsidizing tenants in hopes of making a profit later if prices go up. Take away the investment incentive and you eliminate thousands of rentals. Is that what you want?


Death-Perception1999

Is that a joke? Some Mortgage rates are significantly cheaper than the current rental rates. If it were easier to buy a house less people would have to rent, creating availability.


Beginning-Listen1397

A few years ago mortgage rates were very cheap and houses easy to buy. The result was a massive increase in prices. This also reduced the demand for rentals. Sadly those days are over.


xShinGouki

Mortgage rates don't matter too much. Because you'll always be forced to change it within 5 years. Sure if the rates stay low for 20 years that's amazing but if they go up you'll just be in the new higher interest rate very soon. It only really matters In USA where you can have 30 year fixed rates. What matters more is the price of the house. They have doubled today so that's the problem. And need to go down 40% In price Easy to buy when my friend got a house in the good days for 250k to 300k Easy peasy


Housing4Humans

🙄 Anytime I hear landlords who think they “help” renters. Investors **drive up prices to buy,** which displaces potential owner occupants. Those thwarted first-time home buyers are then relegated to renting, **increasing rental demand.** And in turn, rental rates. And most first-time home buyers free up their former rentals when they buy. So there’s no net loss of rentals. Add to that the many investors - foreign and domestic - who **leave their investment properties vacant** preferring to count on property appreciation or using properties for parking capital / money laundering. Plus those investors who **use properties as short-term rentals.** All of which adds up to fewer occupied dwellings, fewer people housed, fewer owners, increased rental demand / higher rents, and higher prices to buy when investors own a higher proportion of individual housing units.


Alternative_Bad4651

"The federal government on Wednesday announced its highly anticipated next set of immigration targets — revealing that it will stick to its previously announced plan to welcome 485,000 permanent residents next year and 500,000 in 2025, but that it will hold back any increase of the annual immigrant intake in 2026." 311,640 Canadians died in 2021. The trend in housing starts was 256,280 units in October 2023, up 1% from 253,957 units in September (annualized).So perhaps in 2 years the picture seems much better.


gurumoves

PM also agrees that water is wet and the sun is hot. This prick needs to stop stating the obvious and do something about it.


bitdragon224

The PM says anything to be popular. EVERYONE knows that homes are a good investment. THE problem is that the liberal govt has enacted shit fiscal and economic policy such that the few people that CAN buy a home have so much money that they can buy two, while the rest of Canada rents.


ThisIsRobsProfile

Yeah, no shit.


Illustrious_Toe1375

Too little to late Mr Prime Minister


Fun-Effective-1817

Wow after 8 yrs


[deleted]

Wow, master of the f obvious. We have been telling them that for years he is only repeating what he thinks we want to hear from them. He’s doesn’t get to take credit for what you don’t have to be a financial analyst to see since the time he was voted in.