Comments on: Canada’s New Housing Minister Has Already Demonstrated He’s Clueless

By: Mara

Mara — Sat, 19 Aug 2023 04:10:58 +0000

France of 1789, that is a brilliant nutshell. Open it to find the 2008 US, indeed. With a full elimination of a respectable class of home owners. Let’s hope history will not repeat.
Brilliant analogy!

By: Yoroshiku

Yoroshiku — Wed, 16 Aug 2023 15:23:53 +0000

In reply to CB. Good idea. Canada could discourage speculators & flippers with tax policy, instead of encouraging speculators & flippers with tax policy.

By: Dennis_K

Dennis_K — Wed, 16 Aug 2023 02:37:20 +0000

I find it odd that it seems that the federal approach to the (market housing) affordability crisis is to simply build more / increase supply.

If we take the argument to its logical conclusion, then we have to ask: how much housing, of what type, needs to be built and where, in order for current prices to not only level off, but to actually decline back down to the realm of median (income) affordability?

Based on the differentials identified by the recent National Bank of Canada Housing Affordability Monitor, between median incomes and median home prices, it would mean that we would need to OVERBUILD (relative to apparent ‘demand’) by at least 50% in order for that kind of price decline to materialize – meaning, having ready built housing, in all areas of Canada, sitting finished and empty, waiting to be sold. But who is going to ‘overbuild’ just to see prices drop as a result? Who in the development / building / real estate food chain would ever want to see (or allow) that to happen?

Unless governments are going to get into the development business (and by extension, the construction business) directly, I don’t see how this would ever come about in terms of market housing. Even then, the same factors pushing construction costs mentioned in the article would apply here as well.

Maybe it’s time we looked at restricting home ownership to those who actually live and work here and need housing, as well as preventing unearned incomes and foreign capital being spent in the residential housing market.

By: Paul Magder

Paul Magder — Tue, 15 Aug 2023 22:26:20 +0000

Toronto’s crazy commercial realty taxes are hurting everyone. Also how about new construction methods to build housing. Its so inefficient right now. Why are all new condos tiny with luxury finishes. They should be large so families can live in them,with basic finishes that can be updated over time as people wish. Like the old starter homes after WW2

By: mmmmm

mmmmm — Tue, 15 Aug 2023 21:05:12 +0000

So who exactly will house Canadians if the “parasitic” investors are beaten down? Not everyone wants to buy a home.

By: Itchy Bear

Itchy Bear — Tue, 15 Aug 2023 06:56:02 +0000

In reply to Dan. You’re giving them way too much credit. All it means is we will endeavour to make everyone happy, but some (big landowners) will be happier than others.

By: Quix

Quix — Tue, 15 Aug 2023 04:05:52 +0000

You know what would lower prices? A tax on buyers of buildings with less than 5 units for owners of 2 or more other properties in Canada (and all corporations of course).

But that wouldn’t help the parasitic housing “investors”.

By: Craig

Craig — Mon, 14 Aug 2023 21:57:05 +0000

“In bound colonialism” is an apt description of Canada’s immigration policy. I will cherish it under my pillow.

Without having infrastructure in place, ie: Building the City on The Hill So They Will Come… Immigration syphons off talent 2nd and 3rd world countries need to develop. The host Country promises much and delivers jobs like Uber, SkipTheDishes and McDonald’s.

By: Peter

Peter — Mon, 14 Aug 2023 14:01:01 +0000

Thank you for your analysis.

One day people will read your articles and ask “How come these guys saw it coming and others did not?”

Regards,

By: Fraser

Fraser — Sun, 13 Aug 2023 19:59:24 +0000

In reply to Ray.

bingo….tick, tick, tick….POP…..its coming….governments can’t do a thing to prevent this….bring it on….he is just foaming at the mouth again