Comments on: Canadian Election Promises Will NOT Improve Real Estate Affordability: Top Economists

By: D

Fri, 10 Sep 2021 16:24:04 +0000

I don’t vote for career politicians.

By: Neil Cohen

Neil Cohen — Fri, 10 Sep 2021 03:24:35 +0000

Supply is not keeping up with the demand for the last 15 years. Supply has dwindled to a trickle while demand has skyrocketed due to natural increase of population and immigration and to a smaller extend by foreign buyers. Supply has dwindled due to govt zoning policies.
Solution is to
1. Increase the supply by changing zoning policies
2. Reduce immigration to a trickle

By: Lj

Lj — Fri, 10 Sep 2021 02:09:45 +0000

Policy makers and leaders need to take drastic steps such as 1. Stop lenders from giving out mortgage based on fake incomes. Check incomes directly with CRA. Lower incomes lower mortgage amounts resulting in prices coming back to affordability. 2. Builders sit on land zoned for housing for years before they build increasing supply constraints resulting in demand outbidding supply. They should be mandated to build within 2 yrs of permits approval. Use it or loose it policy need to be made. No more 20/30 houses sold in phases when there r 100/200 inline to buy. Builder artificially increase demand by controlling supply. 3. Stop Money laundering into our real estate. Foreign money pours most among all developed nations into Canadian real estate forcing Canadians loosing to foreigners in buying houses. These r the steps required and none of the party will do this. Cause this will fix housing and they don’t want to upset the builders n banks who fund their campaigns

By: Brian

Brian — Thu, 09 Sep 2021 23:49:05 +0000

Basically it means these promises are not sincere.

By: george

george — Thu, 09 Sep 2021 21:24:07 +0000

In reply to Vincent Fornelli.

just as an fyi mr fornelly, the Canadian Real Estate Association’s (CREA) home price index is up 69.7% since November 2015, when Trudeau first took office.

do you have any idea about the cost of housing now? if you were to come to Canada now or just started working, would you still be able to buy in the CURRENT conditions?

This is from this article assuming my post will allow links:
https://www.reuters.com/world/americas/trudeau-pledges-foreign-home-buyer-ban-rent-to-own-scheme-bid-canada-voters-2021-08-24/

By: Canaduh

Canaduh — Thu, 09 Sep 2021 21:18:31 +0000

In reply to Vincent Fornelli. You should see what the median Millennial does to even keep a roof over their head, let alone thinking about buying a house. This completely out of touch "I paid my dues so why don't you" attitude that is exactly the problem.

By: Andrew

Andrew — Thu, 09 Sep 2021 21:17:42 +0000

Bank of Canada just threw a curveball and said in a historic first they’ll be hiking rates before tapering bond buying.

By: Alex

Alex — Thu, 09 Sep 2021 21:10:24 +0000

In reply to Vincent Fornelli. You mean to say you bought a home when home prices were 6-8x average personal income as opposed to the 18x they are now, and you blame millennials being greedy and fiscally irresponsible? Tell me you’re out of touch with reality without saying you’re out of touch with reality.

By: Vincent Fornelli

Vincent Fornelli — Thu, 09 Sep 2021 18:15:45 +0000

In reply to GTA Landlord. Generation Free doesn't care. They want the government to pay for their house if they could, and bill everyone else for the cost. when I first came to Canada, it took me five years of hard labour and not spending a penny more than I needed to in order to purchase my home. The reality is Millennials are greedy like other generations. They won't pay for the homes of the next people, they're just looking out for them.

By: GTA Landlord

GTA Landlord — Thu, 09 Sep 2021 18:13:23 +0000

I feel bad for people that think you can outbuild surges in demand. They’ll give you money faster than we can ever build.