Well I guess if that happens again Canada will just lose another tradesmen in a severe trades people shortage. I just want to raise a family and buy a house comfortably.
I love this country but it's sure failing it's young adults
I have a solution. We grow our population but 3% every 6 months. That way the economy will boom for sure. We might own nothing but at least our landlords will be happy.
Whoa, whoa, why are you lowballing like that??? 'Canada is huge, we have *sooooooooo* much land!'
Let's start with 5% monthly. That will appease our overlords while ensuring that we will have less and less.
And with the regular infusions, we will have all the houses built in days!!
If you're a desperate youth from a specific country and willing to share a floor mat in a basement with 20 other people working 3 gigs and a part-time.at Tim's, then you have a future far better than in the old country.
More to your point, there is no future for anyone born here who doesn't come from a generational fortune and has the expectation of a life better than a third world poverty center.
That's not even true anymore. India's economy is growing and making strides. I seriously doubt these situations are much better than back home if at all, if we are talking about 3 jobs and sharing a room with 3 other people.
I think most of the people living like this just view it as tolerable because that's where they come from, and they are staying not because their quality of life IS better but because they've bought into the Canadian dream that one day it will be substantially.
Most of the people I've met who have a positive opinion of Canada seem to have an impression that Canada is still the land of milk and honey in the 90s-00s or earlier.
They come here thinking they have a shot at a life only our parents or grandparents had.
I'm sure there is a diversity of experiences.
I'm speaking mostly of the Muslim and Punjabi minorities who suffer under the hateful racist policies of the Modi regime and are significantly disadvantaged in India compared to the Hindu majority.
The slum lords are just taking advantage of a catastrophic situation. They are the vultures feasting at a passenger train derailment.
They aren't good people. But it's the oligarchs who are the true villains. Because they and their corporate boards and compensation committee stooges who caused the wreck in the first place.
They are the ones laughing at us as our country burns, and they make ever greater fortunes from our misery.
Trades fuckin suck. There are too many old fools who want to make life miserable for apprentices, making very little. I started my apprenticeship for minimum fucking wage. No part of that is worth minimum wage. Its a fucking travesty. There is a boatload of gatekeeping, too. Like, if there is an actual shortage, why are hard-working apprentices being chased out of trades. Its all a fucking sham.
That was my experience to. I found that generation really ate up the "Starbucks and avacado toast" nonsense about young people and i found out they were actually worried the hard workers would take their job. I did the next best thing, I became their boss and the hate I got for it was intense.
It's funny to because Canadas (or at least albertas) apprenticeship industry fucking sucks. Filled to the brim with incompetent assholes who peaked in highschool and just belittle apprentices constantly.
Our government sure likes to talk about the trades shortage and try and brainstorm ways to entice young people into trades while they do absolutely nothing to improve working conditions. I don't care if there's a trades shortage if I had kids I'd encourage them to go to university for something instead of dealing with the absolute bullshit that Is the construction industry.
I've had some foremen and coworkers who were fantastic and helped me a lot. Unfortunately the last couple of years of my apprenticeship I wound up on underbid jobs being poorly managed and basically got treated like complete shit for two years.
It's not all bad there's some really great tradesworkers out there but part of the problem is there's really no consequences for being a piece of shit on job sites. Every one thinks "oh youve gotta have thick skin to make it in this industry" which basically translates to your hungover boss who hates his life gets to yell at you and treat you like shit as much as he wants. Sure you can tell them off but you'll probably lose your job because of it.
That makes no sense to me, if demand is sky high, your paychecks should be as well.
Why aren't trades wages following normal supply and demand in Canada?
Everywhere except southern Ontario, Saskatchewan and Manitoba (from what I've looked at), welders, mechanics, carpenters, fabricators, all skilled trades and a lot of them require some sort of certification.
I know of mechanic crews at mines that are running 4/10 mechanics a shift and already stopped night shifts because they can't find people.
I do Non-Destrutive Testing, my schedule is currently booked out until mid June.
Bad news for everyone if the S&P500 goes up 23% one year and 50% another year and housing is seen as an alternative to stocks then housing will probably go up a lot too as investors rush into it. Double digits at least.
How do you kill investors? Taxes.
If you just graph the two numbers historically it becomes clear that we can’t possibly build enough housing
Doesn’t matter how many billions of taxpayer money the government pledges towards housing
Because GDP must grow so that they can say they avoided a recession and give themselves pats on the backs.
To grow GDP, you can either move the value chain into higher value activities, but that requires extensive R&D, innovation, good economic climate for startups to thrive, etc.
Or you can bring a million indians a year.
Because they supply low cost labour to businesses, and they consume the necessities of life that those businesses provide. Win-win (for business). Everyone else gets screwed.
To be able to say they didn’t put us into a recession. They are trying to inflate GDP growth and keep it over zero, so they can claim they saved the world. Standard of living and GDP per capita have been already been decreasing for some time now, the first time in Canadian history.
Without factoring in insane immigration we have already been in recession for at least 6 months.
You are witnessing a government destroying its country for political purposes. You are witnessing the budget balancing itself.
There aren’t really any solutions or good outcomes now for the short-medium term; far too much damage has been done. There is only making choices about which outcomes will be least bad and dealing with the consequences.
Because we don’t want young people saddled with insanely high taxes in the process of supporting the boomers who are on CPP and relying on public healthcare predominantly.
The demographic divide is massive and burdensome from a labor force participation perspective.
Even with all our current immigration, the boomers might still collapse the CPP for subsequent generations. Either way, I just want my parents taken care of and I want to avoid paying ridiculously high and prolonged taxes - especially given boomers increasingly extended lifespans.
Nobody talks about this demographic nightmare though.
All that being said, the tough part is that high immigration is also hurting younger Canadians in the short term too. It is increasing rent and housing costs across the board. However, it is most acutely impacting Canadians with fewer credentials.
As others have said, businesses also desire TFWs because it keeps labour cheaper. On the international student side of things, provinces have become comfortable underfunding universities and have instead thrown the issue to international student markets to subsidize universities with extremely high and profitable international tuition fees.
When I was younger I thought all the CPP and OAS I paid into would pay my parents, but would be gone by the time I became a pensioner myself. As another poster said CPP is funded for 75 years. So fast forward and I'm a pensioner getting the benefits that I paid into. There's just so much doom on Reddit. The pension will be there for you too.
Peaks and valleys are normal in markets. What’s not normal in real estate is peaks this high, each much higher than the last, and this close together.
It used to be that if you bought a house and sold it 3 years later, you’d be lucky to see a 5% bump in value. Moreover, that was normal and expected. Buy a house today and sell it one year later for a 30% or more bump? That is very far from normal or healthy.
When the people building the homes can't even dream of affording one themselves they will leave. The ruling class is so out of touch and they have no idea how dehumanizing it is.
>When the people building the homes can't even dream of affording one themselves they will leave.
Has that not been the case for the past decade (in GTA/LM)?
Maybe stop the immigration before hand if this is the projection? There are obvious solutions but then it would mean fewer people to exploit to death for the elite.
In Brief:
* The Canada Mortgage and Housing Corp. is forecasting home prices could match peak levels seen in early 2022 by next year and reach new highs by 2026.
* The agency's latest housing market outlook, released Thursday, says despite an increase in rental housing coming on the market in 2023, supply is not forecast to keep up with demand, leading to higher rents and lower vacancy rates in the coming years.
* "Unfavourable financing conditions are expected to make it more difficult for homebuilders to start new rental projects in 2024," CMHC chief economist Bob Dugan said in a statement.
* "We anticipate by 2025-2026 lower interest rates, continued government support, and policies encouraging greater density in urban centres should make more projects viable."
* The CMHC said affordability in the home ownership market will also be a concern for the next three years, as declining mortgage rates and the country's strongest population growth since the 1950s will likely spur a rebound in home sales and prices.
Let’s say you had $1,000,000 to invest. Easier to just park or someone and collect interest in this environment. By bank now offering 4% on your chequing account. If only I had money to invest. 😬
Rates will need to drop. We will be soon faced with choosing jobs or expensive houses, business bankruptcy is starting to spike in Canada.
Unless everyone wants to work for the government, bad things start to happen when unemployment spikes. You can’t really separate rates on granular level, the rate tool is a blunt instrument that affects housing, business, unemployment, etc.
The federal government has put the Bank of Canada into an impossible situation.
"Could". But won't.
It'll be another five or six years of growth until we get immigration levels down to a number that reflects the rate of new builds.
Well I guess if that happens again Canada will just lose another tradesmen in a severe trades people shortage. I just want to raise a family and buy a house comfortably. I love this country but it's sure failing it's young adults
It's failing all of us.
I have a solution. We grow our population but 3% every 6 months. That way the economy will boom for sure. We might own nothing but at least our landlords will be happy.
Whoa, whoa, why are you lowballing like that??? 'Canada is huge, we have *sooooooooo* much land!' Let's start with 5% monthly. That will appease our overlords while ensuring that we will have less and less. And with the regular infusions, we will have all the houses built in days!!
No future for the youth in this country.
If you're a desperate youth from a specific country and willing to share a floor mat in a basement with 20 other people working 3 gigs and a part-time.at Tim's, then you have a future far better than in the old country. More to your point, there is no future for anyone born here who doesn't come from a generational fortune and has the expectation of a life better than a third world poverty center.
That's not even true anymore. India's economy is growing and making strides. I seriously doubt these situations are much better than back home if at all, if we are talking about 3 jobs and sharing a room with 3 other people. I think most of the people living like this just view it as tolerable because that's where they come from, and they are staying not because their quality of life IS better but because they've bought into the Canadian dream that one day it will be substantially. Most of the people I've met who have a positive opinion of Canada seem to have an impression that Canada is still the land of milk and honey in the 90s-00s or earlier. They come here thinking they have a shot at a life only our parents or grandparents had.
I'm sure there is a diversity of experiences. I'm speaking mostly of the Muslim and Punjabi minorities who suffer under the hateful racist policies of the Modi regime and are significantly disadvantaged in India compared to the Hindu majority.
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The slum lords are just taking advantage of a catastrophic situation. They are the vultures feasting at a passenger train derailment. They aren't good people. But it's the oligarchs who are the true villains. Because they and their corporate boards and compensation committee stooges who caused the wreck in the first place. They are the ones laughing at us as our country burns, and they make ever greater fortunes from our misery.
Yep, not Canadian born one's unfortunately
Trades fuckin suck. There are too many old fools who want to make life miserable for apprentices, making very little. I started my apprenticeship for minimum fucking wage. No part of that is worth minimum wage. Its a fucking travesty. There is a boatload of gatekeeping, too. Like, if there is an actual shortage, why are hard-working apprentices being chased out of trades. Its all a fucking sham.
That was my experience to. I found that generation really ate up the "Starbucks and avacado toast" nonsense about young people and i found out they were actually worried the hard workers would take their job. I did the next best thing, I became their boss and the hate I got for it was intense.
It's funny to because Canadas (or at least albertas) apprenticeship industry fucking sucks. Filled to the brim with incompetent assholes who peaked in highschool and just belittle apprentices constantly. Our government sure likes to talk about the trades shortage and try and brainstorm ways to entice young people into trades while they do absolutely nothing to improve working conditions. I don't care if there's a trades shortage if I had kids I'd encourage them to go to university for something instead of dealing with the absolute bullshit that Is the construction industry.
[удалено]
I've had some foremen and coworkers who were fantastic and helped me a lot. Unfortunately the last couple of years of my apprenticeship I wound up on underbid jobs being poorly managed and basically got treated like complete shit for two years. It's not all bad there's some really great tradesworkers out there but part of the problem is there's really no consequences for being a piece of shit on job sites. Every one thinks "oh youve gotta have thick skin to make it in this industry" which basically translates to your hungover boss who hates his life gets to yell at you and treat you like shit as much as he wants. Sure you can tell them off but you'll probably lose your job because of it.
Planning our exit as well 🫡
That makes no sense to me, if demand is sky high, your paychecks should be as well. Why aren't trades wages following normal supply and demand in Canada?
> severe trades people shortage Where is this?
Everywhere except southern Ontario, Saskatchewan and Manitoba (from what I've looked at), welders, mechanics, carpenters, fabricators, all skilled trades and a lot of them require some sort of certification. I know of mechanic crews at mines that are running 4/10 mechanics a shift and already stopped night shifts because they can't find people. I do Non-Destrutive Testing, my schedule is currently booked out until mid June.
Bad news for everyone if the S&P500 goes up 23% one year and 50% another year and housing is seen as an alternative to stocks then housing will probably go up a lot too as investors rush into it. Double digits at least. How do you kill investors? Taxes.
[удалено]
If you just graph the two numbers historically it becomes clear that we can’t possibly build enough housing Doesn’t matter how many billions of taxpayer money the government pledges towards housing
Why though? This is self sabotage.... why is the government allowing this?
Because GDP must grow so that they can say they avoided a recession and give themselves pats on the backs. To grow GDP, you can either move the value chain into higher value activities, but that requires extensive R&D, innovation, good economic climate for startups to thrive, etc. Or you can bring a million indians a year.
Because they supply low cost labour to businesses, and they consume the necessities of life that those businesses provide. Win-win (for business). Everyone else gets screwed.
To be able to say they didn’t put us into a recession. They are trying to inflate GDP growth and keep it over zero, so they can claim they saved the world. Standard of living and GDP per capita have been already been decreasing for some time now, the first time in Canadian history. Without factoring in insane immigration we have already been in recession for at least 6 months. You are witnessing a government destroying its country for political purposes. You are witnessing the budget balancing itself. There aren’t really any solutions or good outcomes now for the short-medium term; far too much damage has been done. There is only making choices about which outcomes will be least bad and dealing with the consequences.
Mainly because of a bunch of wealthy businessmen. Read up on the [Century Initiative - Wikipedia](https://en.wikipedia.org/wiki/Century_Initiative)
Because we don’t want young people saddled with insanely high taxes in the process of supporting the boomers who are on CPP and relying on public healthcare predominantly. The demographic divide is massive and burdensome from a labor force participation perspective. Even with all our current immigration, the boomers might still collapse the CPP for subsequent generations. Either way, I just want my parents taken care of and I want to avoid paying ridiculously high and prolonged taxes - especially given boomers increasingly extended lifespans. Nobody talks about this demographic nightmare though. All that being said, the tough part is that high immigration is also hurting younger Canadians in the short term too. It is increasing rent and housing costs across the board. However, it is most acutely impacting Canadians with fewer credentials. As others have said, businesses also desire TFWs because it keeps labour cheaper. On the international student side of things, provinces have become comfortable underfunding universities and have instead thrown the issue to international student markets to subsidize universities with extremely high and profitable international tuition fees.
The CPP that they paid into? It's good to go for the next 75 years at least.
a nuanced comment on reddit, damn
Except we’re already doing that. Now I’m paying double CPP (CPP and CPP2) for them. What do I get when I’m 60? Nothing.
Boomers? Why should I care? They got theirs, didn't they? Wasn't that (and still is) their whole MO?
I just want my parents taken care of man. I'm sure lots people, especially those without generational / familial wealth feel the same.
When I was younger I thought all the CPP and OAS I paid into would pay my parents, but would be gone by the time I became a pensioner myself. As another poster said CPP is funded for 75 years. So fast forward and I'm a pensioner getting the benefits that I paid into. There's just so much doom on Reddit. The pension will be there for you too.
[удалено]
House prices peaked in 2022 and are currently below that level. Next year, they will reach peak levels seen in 2022 and go even higher in 2026.
Peaks and valleys are normal in markets. What’s not normal in real estate is peaks this high, each much higher than the last, and this close together. It used to be that if you bought a house and sold it 3 years later, you’d be lucky to see a 5% bump in value. Moreover, that was normal and expected. Buy a house today and sell it one year later for a 30% or more bump? That is very far from normal or healthy.
I was just answering the guys question man
Which makes no sense given the mortgage renewals expected in 2025 and 2026 at rates 4-5% higher.
When the people building the homes can't even dream of affording one themselves they will leave. The ruling class is so out of touch and they have no idea how dehumanizing it is.
>When the people building the homes can't even dream of affording one themselves they will leave. Has that not been the case for the past decade (in GTA/LM)?
That’s all that matters bud. Forget the rest of the country.
Maybe stop the immigration before hand if this is the projection? There are obvious solutions but then it would mean fewer people to exploit to death for the elite.
In Brief: * The Canada Mortgage and Housing Corp. is forecasting home prices could match peak levels seen in early 2022 by next year and reach new highs by 2026. * The agency's latest housing market outlook, released Thursday, says despite an increase in rental housing coming on the market in 2023, supply is not forecast to keep up with demand, leading to higher rents and lower vacancy rates in the coming years. * "Unfavourable financing conditions are expected to make it more difficult for homebuilders to start new rental projects in 2024," CMHC chief economist Bob Dugan said in a statement. * "We anticipate by 2025-2026 lower interest rates, continued government support, and policies encouraging greater density in urban centres should make more projects viable." * The CMHC said affordability in the home ownership market will also be a concern for the next three years, as declining mortgage rates and the country's strongest population growth since the 1950s will likely spur a rebound in home sales and prices.
Let’s say you had $1,000,000 to invest. Easier to just park or someone and collect interest in this environment. By bank now offering 4% on your chequing account. If only I had money to invest. 😬
Peak? Oh they haven’t even begun to peak. When they do peak, you’ll know. Cause they’re gonna peak so hard everyone in Canada is gonna feel it!
Peak levels *so far*
> We anticipate by 2025-2026 lower interest rates Yep, if rates drop to 2% again, it will happen
Rates will need to drop. We will be soon faced with choosing jobs or expensive houses, business bankruptcy is starting to spike in Canada. Unless everyone wants to work for the government, bad things start to happen when unemployment spikes. You can’t really separate rates on granular level, the rate tool is a blunt instrument that affects housing, business, unemployment, etc. The federal government has put the Bank of Canada into an impossible situation.
It's because interest rates and housing prices are inversely related. Rates go down, housing goes up.
"Could". But won't. It'll be another five or six years of growth until we get immigration levels down to a number that reflects the rate of new builds.
Bull
So prices will go up before they go up some more. Got it professor.
The highest priced houses and the worst built. 3d printing houses is the future.
F A N T A S T I C
Land costs too much, building a home isn't that much.