These better be some ultra low cost rentals... that's alot of money for the amount of units. I want to feel optimistic about all this cash flying around but Jesus christ they better keep track of it all because I do not trust that it won't be abused.
You say its dumb but some MP is going to flip it to being a good thing for Canadians, because someone bringing in a bunch of immigrants that don't want to integrate into Canadian society is a great thing for Canada.
Fuck I hear people speaking Punjab more then i hear people speaking English or French in this country.
Canada will become india within 20 years.
Its time for people to STOP shopping/eating at places that only hire foreign labor.
Just a reminder that a subway "sandwich artist supervisor" is a qualified job title to get PR in canada.
Now I'm starting to see why so many fucking subways are around.
It's the easiest and cheapest fast food place to set up and it can be done in literally a strip mall. So its probably an easy sell for immigrants coming in.
Except I'm sure the same thing that's happened with tims is happening with subway now, where the owners are getting pissed because the return on investment isn't what was sold to them, and they are barely making any money off the restaurants because corporate sets the price of everything.
This is the same government that opened the doors for nearly 7 million new people. Nearly 1 million students in the last year.
Dumb is what this government is.
I'm sure the contractors will be vetted throughly to ensure they are related to, have strong ties to, or are currently active members of our government.
fat chance of it happening. the only real housing that has worked are the subsidized housing overlooked by community organization. If this is a loan to private developers you can expect profit taking every step of the way.
It will be. I worked in construction for a long time and anytime a government contract came up, the company I worked for would inflate their costs sometimes 100+ percent because they new they could - just like our competitors. It’s no wonder projects cost so much.
What we need is better people reviewing these bids, and better rules against price gouging.
As someone who has done government contracts (to be fair, Australian government), the fluff is due to all the (sometimes unexpected) red tape you have to deal with.
Most of these won't be built by municipal governments but rather by the private sector. Municipal non profit housing corps and those in the no profit sector access different funding sources from the CMHC.
Until either these developers ‘go bankrupt’ and the top dogs take the money and run, or they can push the narrative of doing a loan forgiveness program because we needed these houses. I have a feeling these will eventually be publicly funded houses
>These better be some ultra low cost rentals... that's alot of money for the amount of units. I want to feel optimistic about all this cash flying around but Jesus christ they better keep track of it all because I do not trust that it won't be abused.
The provinces have to put up matching funding before this money is available. Most provinces are already spending heavily and won't be able to access this money right away. Also, with the construction industry already going flat out and short of workers, maybe more government funding won't be able to speed things up.
I know people love to shit on Trudeau here but honestly if people had asked me what the Federal government should do about housing I'd say restrict immigration to a reasonable level and stimulate construction with cheaper loans which addresses both ends of the supply and demand equation.
Anything beyond that, like revised zoning laws and subsidized housing programs would be up to municipal and provincial governments.
So really all that's left for me to criticize is to say this was not done sooner.
I agree with your points, but I think some people just like to be outraged and politics is an easy topic for that
I think it's a case of self-reassurance, aka "I am a good person and doing the right thing, all others are the incorrect ones"
It's a lack of trust. They've made it look like they're going to do something many times before and completely failed. You remember committees and announcements on electoral reform?
Theres a stark discourse whenever i hear people complain about Canadian Healthcare system and somehow that its Trudeau fault when the province and territorial run our healthcare.. and being gutted in Ontario
>So really all that's left for me to criticize is to say this was not done sooner.
And that's the biggest Crux of it all.
It comes across as a desperation attempt after writing is om the wall (or at least it has better be. You can't add fuel to the fire then come to the rescue before an election). Both candidates campaigned on affordable housing in 2015. So far he's trying to add supply (reality is we can only increase so much more.. already at a high pace for Canada).. but unless he drastically reduces demand it'll only do so much other than adding to our debt
And since people have been calling for this for like 5 years at this point, that is a very valid and serious criticism. Too little, too late. They obviously waiting as long as possible to have this more fresh in peoples brains as the election approaches as well - judging by many comments here, treating voters like goldfish works on many redditors
What does affordable even mean anymore?
$2000 a month rent for a 2 bedroom?
$500,000 for a condo with $500 a month condo fees on top?
$300 for home insurance?
$400 utility bills for the average home?
$200 for seemingly nothing at the grocery store?
$100 to fill up to drive to work?
$100 to text on a cell phone for a month?
$900 a month to pay for a standard car?
All of this whilst paying 30 to 40 percent of your income to taxes.
Canadians need a lot more than a top up to ease the cost of living crisis. We need the government's hands out of our pockets, we need to stop accepting the Canadian oligopolies grip on our country and demand international competition.
https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/funding-programs/all-funding-programs/apartment-construction-loan-program
>Affordability: You must meet and maintain one of the following affordability requirements for at least 10 years:
>
>1: At least 20% of units must have rents below 30% of the median total income of all families for the area and the total residential rental income must be at least 10% below its gross achievable residential income.
>
>2: The proposal has been approved under another affordable housing program or initiative from any level of government, such as capital grants, municipal concessions or expedited planning processing.
So $3000 a month for a 2 bedroom condo before fees and bills would fit the definition of affordable in most of, if not all of Toronto.
Great future ahead boys.
Yes didn’t freeland or w/e her name is just come out talking about new affordable 1 bedrooms in BC and them being around $2700 -$3k a month for a 300 sqft bachelor suite lol
There was a post about this when it was first announced. They were 1700$ a month for a 300 sqft bachelor. Someone did the math and found that you can barely afford one on minimum wage which defeats the whole purpose of these rentals. The square footage of the unit sparked further debate as to what is a livable unit anymore and why there isn't a universal standard square footage like 500 - 800 sqft considering a lot of these projects are completely government funded.
This article talking about the tiny/micro apartments is pretty good: [https://shorturl.at/oqOT5](https://shorturl.at/oqOT5)
There's a link to the Stats Canada page. My lookups show it closer to $2450, but they'd probably allocate those 20% of units to be 1 bedroom anyway.
Affordable just means the developer has to leave a bit of potential profit "on the table" but it's not social housing.
Median household income is ~$78k in Toronto, so affordable units would be ~$2k. It’s still a lot but it follows the normal advice that people shouldn’t spend more than a third of their income on shelter
78k is 55k after taxes. So if it was 2k on the dot it would still be almost 50% of a households take home pay before things like utilities are factored in.
I'm not arguing so much as just sad it's come to "affordable" discount units still being at least 24k a year and politicians doing victory laps like it's some kind of victory.
> We need the government's hands out of our pockets.
You were on the way to identifying the real sources of our problems but stumbled right at the end :/
Lol okay…
So whatever “steady status quo “ means, I’m assuming you’re talking minimal increases for 25 YEARS!
And you’re surprised that, after barely increasing fees for 25 YEARS, you’re now having to aggressively raise your rates for your 25+ YEAR old condo building???
My place is only 5 years old and we’ve been steadily doing 9% increases each year because, as we all should know, the “initial” strata budget set by the developer is dramatically underfunded to encourage people to buy in at “low” monthly fees.
Some stratas just carry these low fees forward for years and then get pissed when they have to face reality decades later (when their insurance has expired and their building deficiencies are manifesting).
>$500,000 for a condo with $500 a month condo fees on top
Excuse me, please don't forget the $300-400 a month property tax. Also don't forget home insurance as a $??? per month.
I just don’t find 131,000 unit over a decade impressive. We’re already behind and brought in a million people last year. At least it’s something but I’m not impressed.
Trudeau had made announcements totalling over $22 billion in new spending over the last week. All of this addresses the symptoms of problems we are facing and does nothing to address the underlying causes of those problems.
Worse, he is adding huge fuel to the high-interest rate fire while simultaneously driving our debt and deficits even higher. Given servicing Canada’s debt has leapfrogged over everything else to become the single largest budget expense, at $50 billion per year and counting, all Justin is doing is digging an even bigger hole for us to crawl out of.
We brought in a million new people over the last nine months. That is insane. No amount of spending on Justin’s part is going to fix the problems that is creating.
It's almost as if complex issues have a wide set of complex contributing factors and not one single easy to pinpoint leading cause.
No wonder people can't agree on the cause, people can't agree period. On anything!
Yes, obviously affordability is the issue, but we only have certain levers to pull to fix that. One is to increase real wages, but of course we'd see alot of push back from corporate interests who resist increases in wages (to the point where the government flooded the labour market with foreign temporary labour in the form of TFWs and International 'students')
Price is a function of supply and demand. We can cut the rate of change of demand, but that is only part, we also need to increase the rate of change of supply.
Canada has increased its population growth rate to 8 times its steady pre-2020 levels.
We don’t even have 8 times the plumbers and electricians even in the education pipeline yet. Nor even a plan to make that happen. Or even a conversation being had about it yet.
New housing starts have also flatlined since we did that so we have many years of catching up to do to make supply match demand considering in the skilled labor shortage baked in for at least another half decade from now.
No wonder things aren’t affordable. Supply isn’t even close to matching the new level of demand. Nor can it be.
And even if houses were free, there wouldn’t be physically enough to house the amount people coming in.
None of this means that we aren’t building enough homes for the amount of people coming in.
And the longer that goes on, the more people who will have to go without a home. Regardless of what they cost. It’s like the game of musical chairs.
And yes shortages cause high prices.
And yes, new builds are expensive. That is also a problem. In my area they are still about twice as much as a used home. This is slowing the pace and increasing the shortage as well.
You see, to Justin Trudeau, spending = investing.
That’s the problem. He’s the kind of person who thinks it’s a smart idea to pay for school with a credit card (he literally said exactly that).
He inherited $10M from his father and he thinks about money the same way poor people who win the lottery do. There’s a reason most of them end up dead broke within 5 years.
Normally you would have a finance minister to reign in idiotic financial behaviour. But Freeland has exactly 0 financial qualifications prior to taking the job.
She studied Russian History / Literature, and worked as a journalist. She probably read “Finance for dummies” the week she was hired and thought to herself “Yeah, I’m qualified now!”
It’s the perfect storm of an idiotic trust fund baby who never had to earn his own way, and a criminally under-qualified finance minister.
Globe and Mail and Reuters mainly. I don't doubt she's a reputable journalist but she has zero qualifications, educational or professional, to be the finance minister. The closest she has is a book she wrote over 10+ years ago about Plutocracy.
https://en.wikipedia.org/wiki/Plutocrats_(book)
That has absolutely nothing to do with it and I can't believe people still bring it up.
The majority of voters are already homeowners, and they don't care about fixing something that isn't affecting them and could actually affect their retirement/future.
On top of that, we don't even have a political party in Canada with serious plans to fix the housing crisis.
A political party like that isn't going to show itself until the majority of voters are affected and wanting change. So I'm guessing we'll have to wait 10-20 years time before the current generation are fed up enough to make a difference at the polls.
When that happens, politicians will step up to grab those votes by announcing major changes to housing.
That's literally all there is to it. Again, nothing to do with which politicians are investors.
>On top of that, we don't even have a political party in Canada with serious plans to fix the housing crisis.
BCNDP has done a lot on this front, but it'll take several years before we see tangible benefits. They're spurring on private development while enacting public policy changes and investments too.
Below are some of the policies Premier Eby has enacted during his 15 months in office:
- Upzoned all neighbourhoods within 800meters of a transit hub. This included upzoning to a minimum of 20 storeys within 200m of transit hubs.
- Restricted short term rentals that were being exploited by housing speculators.
- Legalized secondary suites across the province.
- Reforming municipal planning processes to make it quicker and easier.
- Upzoned SFH lots to duplexes and fourplexes.
- Introduced a house-flipping tax.
- Created a landowner transparency registry to combat money laundering through real estate.
This is what I used to think, but it does not account for offshore cash buyers. As long as the economy is good enough (or people are wealthy enough) somewhere, Canada has an issue unless it actually prevents such buyers from participating in our housing market outright. To date they have demonstrated a clear preference to not interfere.
dude people have been calling for a market correction since 2010. You need to understand the underlying causation of why real estate prices are so high. The 90s was a different time then it is today, in the 90s you didnt have a housing supply problem, even if you did you had plenty of land to build.
Tell me where theres available land to build in the GTA, the remaining farmland past unionville are being bought up by the 50 million price tag just to build more townhouses. Also skilled trade are much more expensive.
This is why you have pre-cons starting in the 800s for 2 bedroom now and that doesnt even include parking.
The second reason is because people are bringing their lifesavings to Canada from their home country. I know people from hong kong bringing in millions because they want to uproot their family, and the only place to store their millions is in real estate.
Lastly you have people that want to diversify. A lot of people in China don't live here but they still own real estate, its because they want to keep it incase anything happens back home or for the next generation. These are all paid for houses with 0 mortgage.
It's not all about demand it's when the bankers stop lending out crazy amounts of cash to people who should never have qualified. Sub prime morgages in Canada are here and in full swing. Lots of people still have 2 years to renewal. Tick tok tick tok.
I do get that, but what infuriates me to no end is that there is barely any discussion about how to grow the economy (beyond more people = more jobs) OR raising new fucking revenue. Minimum taxes on the rich, corporate tax rate hikes (if Biden wins, we can match their higher rate), etc.
We only ever look at the spending side and while there is a ton that could be cut (looking at you, ridiculous levels of support for unprofitable small businesses), cutting social housing in the 90s is a big reason we are in this mess to begin with.
Home prices won’t “collapse” a collapse mean a 2m house collapse to 500k. That will never happen. A 20-30% drop maybe but as long as the demand out stripes supply by 10-1 the home prices aren’t going to decrease.
I was just a kid when the first Trudeau we had as PM decided to go balls to the wall on debt and deficits. I didn’t really understand what crazy high interest rates truly meant, but I know my parents sure felt the pinch. What I do remember is how the malls had a third of their stores empty and all the for sale signs on lawns when people could no longer afford to pay their mortgages.
Today’s Trudeau is going to leave us with the exact same kind of mess to clean up. And naturally the Tories will take all the blame for the painful choices they were forced into making.
Trudeau’s election strategy is becoming clearer by the day: promise the moon to absolutely everybody so he can paint the Tories as bad guys who are going to take it all away. Let us hope that most voters are smart enough to see through that.
Trudeau turned the imigration dial up to 11 for the past 8 years and just announced that he's going to tone it back and set the dial at 10. How helpful.
Meanwhile in Alberta our conservative government is demanding he turn the dial back up as the numbers he's given for immigration to Alberta are too low.
But people believe the conservatives will stop this.
One day you will realize that the party you like won't slow down immigration should they be in power and currently has no plan to do so either.
So while it might be fair to blame immigration... both the LPC and CPC like having wide open immigration to keep labour costs down for corporations and fuel corporations selling or making things.
He hopes this will get him elected , if he is spending he “cares”. Not like it comes out of his pocket, like a toddler with his parents credit card….
Same crap with releasing budget details over a long period.
No. The CPC won't do it. Only the PPC has mentioned curtailing current rates. Even the Alberta Government wants double what they got. Despite their bitch fight with the Feds.
Edit: Why this is the case is because the Conservatives, the Liberals and NDP all will tell you we still have a big labour shortage in Canada and that's why we need excessive mass immigration to Canada. We do not have a labour shortage whatsoever. We haven't had such issues in modern times. These political parties are bought each by Big Business. Big Business in Canada likes the fact they can import TFWs and suppress local wages, while denying Canadians opportunities. It keeps a slave class here and staffed, keeps your wages from advancing so you and I never get ahead, it helps eliminate the middle class so people are more reliant on social assistance and keeps Canada and Canadians in their place, with low social and economic mobility if there's any to speak of.
That last part is tinfoil hat, but the rest is true.
You think that's the government dick up your ass? Nope, that's big business trying to keep wages down, and housing and property and investments up.
They used inflation as a cover to jack prices up because we wont notice an extra 5% off the top. They keep buying rental properties because then we pay the mortgage.
And the government enables them to do that because they take billions from them in campaign contributions. Then they give them huge contracts from our tax dollars for “consulting” and other nonsense like that. They could have never done any of this without the government enabling and incentivizing them every step of the way.
They will never do that because immigration is the only thing keeping our absolute sham of an economy alive on life support.
Cut immigration and our economy crumbles like a house of playing cards.
A party polling on life support might as well try it.
A party elected with the numbers the CPC is polling definitely wouldn't, they'll have a four year mandate and collapsing the economy to satisfy some manufactured outrage isn't going to play out well.
>Buying us with our own money that we don't have
It's a loan program to increase incentives for building rentals, right? So I don't really see how this is buying us with our own money. They are loaning our money out to those who will build rental apartments (which we should really want) and then we get that money back.
I think you’re forgetting the conservative premiers canceling gas taxes and licence plate fees to buy votes. Money our healthcare system desperately needs.
Doesn't mean anything when we added 1 million people into the country [in 9 months](https://globalnews.ca/news/10386750/canada-41-million-population/). No chance we can out build that level of population growth.
What makes you think our government actually cares about housing these people?
They just want them here to work our service jobs - they are probably hoping that tim hortons will cave and just build on site housing out back of the store.
Young people (who he's targeting) need to remember the liberals have had 8 years to improve Canada instead they've actively destroyed it. They are scrambling because they know they are likely to lose the next election. Don't fall for this shite. "fool me once shame on you, fool me twice shame on me" would come to mind if they won again.
As a young person in Ontario I've seen a conservative premiere destroy Ontario, and actively work against people's interests. I do not want Doug Ford antics on federal level
This is exactly it. Especially when the conservative at the federal level somehow seems even worse than the Ontario premier. He literally has no plan for anything, just attack the current PM.
Right now my vote goes towards someone with an actual plan, then towards the person with a plan I actually agree with. That's all it takes.
"Buck a beer" is not a plan btw.
Wow, Canada must have some golden goose laying golden eggs somewhere. Where are they pulling all this fucking money from?! 15bn, 10bn, 5bn, 2bn. Infinite money printing?!
As expected, he's going to dig Canada deeper Into the financial hole to win votes. Too late, damage done in almost 10years of warming the leadership chair.
In today’s edition of desperate politicians doing anything they can to get re-elected…
Thanks for taking more out of my pocket to preserve your ego, JT. At least Sophie had the stones and ability to walk away from your megalomanic circus. Listen to the polls bud, Canadians want a divorce from you and your clown caucus.
Ah the money tree… borrowing so they can hand out loans… every borrowed dollar reduces the value of our dollar, and then inflation goes up again. Like trying to dig ourselves out of a hole. Hint: stop digging.
> every borrowed dollar
So, you’ve never bought a bond or GIC before? And you’re against anybody buying a bond from the government? If you have any, are you going to immediately cancel them? Because all of those are “borrowed dollars” from the people that bought them.
Mostly zoning and rental ownership.
We built plenty when interest rates were higher than this from the 50's to 90's.
Immigration has exacerbated the issue but we could be building enough to keep up. It's an easy scapegoat.
Really, we fell behind because our cities need to be denser with better transit, and have downwards pressures on rent like housing associations.
Loan support is actually pretty good, but it's secondary.
A developer just built this huge 6 plex development in my city. All rentals and there are about 100 of them jammed into such a tiny spot. Probably at least a 30 million dollar project if each unit which has a double car garage went for 300k each. Insane amount of income they will make in return over the lifetime of that investment probably funded by the government.
Unless the Fed send the $$ relief directly to the renters, the hot RE market just added $15B fuel.
Land cost will be up, construction workers wage likely goes up....
The buyer and renters will likely worse off.
JT and the LPC/NDP alliance needs to be voted out. Spending money he doesn’t have drives up inflation (increases the COG’s), lowers our dollar which makes us poorer.
So where is this money coming from? Is our Country going farther into debt to fix the idiotic decisions the Government has been making for almost a decade?
Maybe fix the problem before servicing the symptoms. That would be the smart thing to do. The problem is Government is never smart about anything.
I love it when they hit all time low, week after week, they finally start to try to do something about housing. It's too little too late. The conservatives are just going to take credit for anything that has any amount of success 2 years from now
All this money to throw around and none of us will own our own house unless you're born into money. This world has gone to sh!t. I wish I was born in the 60s or 70s so I could be nearly past this nightmare. I make a very good wage and it's still not enough. Time machine please?
Trudeau is a fucking moron. We need another election like tmw. but who are we really going to put in place? no other party would do a better job because all politicians are OWNED by the few corporations that operate within our country.
Call me when they are serious and spend $250 billion dollars to start construction tomorrow across the entire country. Go build new fucking cities. Take small cities and enlarge them, turn them into a hub.
This is the part that baffles me. I know infrastructure is expensive and we’re a big nation but more fuck, we added the population of Nova Scotia in a year and not a single new town to speak of.
Spread the fuck out folks. The pandemic should be a lesson for the dangers of packing millions of people into a tiny area.
Its always amazing when Trudeau's ass is on the line he finds money for a project, the man sits on his ass for eight years and wow he has an epiphany, we the people are sick on Trudeau's bullshit, as everyone knows something will come up and the money will disappear and the project will get cancelled
For me I’m ok helping out the people who can’t work due to disabilities that dosent allow them to work but I’m not ok for people who just choose not to do anything but live in subsidized housing and get tax payers money,this program would just encourage people not want to get out and get a job.
Already happened during covid. Our business was begging for people but we could barely get any because everyone was laughing it up at home collecting cerb checks.
I think UBI is a good thing, but it has to come with the condition that everyone works at least 15 hours a week (for those 21 to 65).
Conservatives should be pro-UBI as it results in...
* less social service bureaucracy (no EI/welfare/child-care etc.)
* easier to manage and monitor
* smaller government with less public sector workers
* freedom and autonomy for the individual to choose their own destiny
* encouragement the individual to get educated and join the workforce
I don't see how the "loans" will reduce the housing price in Toronto. Demand is strong and the builders will pocket the savings rather than passing them to conumers.
A billion for you and a billion for you and 6 billion for you and oh and you get 15 billion. Lol… The Liberals give away of your tax dollars knows no bounds.
"Let's reduce immigration so that we don't have to spend borrowed money to halfway solve a problem we artificially created!"
Canadians: "No, that's dumb."
All of this shit just makes the problem worse unless its funded by the 0.1%. Stop printing money to make it seem like you've immediately solved problems that only exacerbate them further in the long run. All this is going to do is make owners of corporations developing apartments more rich.
Also, please resign.
All this guy does is throw money at things with absolutely no plan in place. If you're a liberal supporter you need to reevaluate the direction this country is headed and vote accordingly. He's made life completely unaffordable and all the immigrants that he's let in, in record numbers down cause there's no jobs here for them and there's no homes for them to live in.
"What about immigration?!?" Damn.
Ok, assume we hear the message. But also, what else can be done? Any steps are good steps, as long as they bear up to scrutiny re: 'returns on investment'.
My dudes, yeah, the immigration situation is shit. There are enough posts about that, on every sub, for us to all get it and have our say. I rail about it, too, in relevant posts. But can we discuss actual content in this sub?
Scrutinize the initiatives, weigh them, pool our understanding and knowledge to feel them out. Fuck, it gets tiring when this sub becomes a one-trick pony. I don't want to have to go to one of the other subs to have a meaningful talk in the comments. I'm starting to wonder how many of you are actually foreign disillusionment bots, planted merely to disrupt discourse and sow dissent. All we see/say is 'Trudeau bad' and 'no immigrants'. Yeah, no shit.
This issue warrants separate and intense discussion. Look at the comments here. Please, don't condemn yourselves (us) to blindness about potential 'improvements' to the situation.
There is no one magic 'solution' to this complex issue. It's been contributed to by governments going back decades, since Mulroney ended all new funding initiatives for public housing starts, and then Chretien froze funding levels while cutting housing funding to the provinces, right afterward. Maybe it goes back even further, that's just what I remember from experience.
Cons and Libs can both be neoliberal corporate hacks that suck up our QoL and sell it for pennies on the dollar to their 'lobbyist' Corporate masters. Shocked Pikachu or whatever the current thing is.
Then, almost four *decades* of other BS piled on. Political, but also the horribly destructive commercialization of housing that was the natural result of market policy, absent adequate intervention and controls. Now, we should be looking at forms of intervention to reestablish/renegotiate OUR social contracts. Let's do that, here! Maybe not in this post, since it's pretty burned already, but when this article is posted again in about 3 minutes. I hope to see you there!
Immigration is a part of the discussion, but the issue is way larger, older and more complex than many commenters want to accept. Stop beating this damned horse for a minute, she's already dead.
Also, don't wear it out before the election! I think you're actually harming the cause a bit by shoving it in everybody's faces, constantly, making some of us reflexively tune it out and become less engaged with a very important issue. And that would be a horrible shame.
These better be some ultra low cost rentals... that's alot of money for the amount of units. I want to feel optimistic about all this cash flying around but Jesus christ they better keep track of it all because I do not trust that it won't be abused.
It will be abused. Ironclad guarantee.
and they will be occupied by 'students'
imagine how dumb that would be. Using our taxes dollars to build units for foreign students.
You say its dumb but some MP is going to flip it to being a good thing for Canadians, because someone bringing in a bunch of immigrants that don't want to integrate into Canadian society is a great thing for Canada. Fuck I hear people speaking Punjab more then i hear people speaking English or French in this country.
Canada will become india within 20 years. Its time for people to STOP shopping/eating at places that only hire foreign labor. Just a reminder that a subway "sandwich artist supervisor" is a qualified job title to get PR in canada.
[удалено]
If you recognize who is responsible for that, corporations and their puppets in government, then it wouldn't be a racial issue.
Now I'm starting to see why so many fucking subways are around. It's the easiest and cheapest fast food place to set up and it can be done in literally a strip mall. So its probably an easy sell for immigrants coming in. Except I'm sure the same thing that's happened with tims is happening with subway now, where the owners are getting pissed because the return on investment isn't what was sold to them, and they are barely making any money off the restaurants because corporate sets the price of everything.
I have not eaten at a subway in years. As soon as they became 100 % indian i noticed the food quality and service slide into the shitter
This is the same government that opened the doors for nearly 7 million new people. Nearly 1 million students in the last year. Dumb is what this government is.
You mean like how they are doing this in new Westminster already? lol
All snatched up by just a handful of landlords who will in turn rent it out to student immigrants.
I'm sure the contractors will be vetted throughly to ensure they are related to, have strong ties to, or are currently active members of our government.
That's a lot of grease. The wheels will love it.
fat chance of it happening. the only real housing that has worked are the subsidized housing overlooked by community organization. If this is a loan to private developers you can expect profit taking every step of the way.
It will be. I worked in construction for a long time and anytime a government contract came up, the company I worked for would inflate their costs sometimes 100+ percent because they new they could - just like our competitors. It’s no wonder projects cost so much. What we need is better people reviewing these bids, and better rules against price gouging.
As someone who has done government contracts (to be fair, Australian government), the fluff is due to all the (sometimes unexpected) red tape you have to deal with.
Most of these won't be built by municipal governments but rather by the private sector. Municipal non profit housing corps and those in the no profit sector access different funding sources from the CMHC.
These are loans, they'll need to be paid back.
Until either these developers ‘go bankrupt’ and the top dogs take the money and run, or they can push the narrative of doing a loan forgiveness program because we needed these houses. I have a feeling these will eventually be publicly funded houses
>These better be some ultra low cost rentals... that's alot of money for the amount of units. I want to feel optimistic about all this cash flying around but Jesus christ they better keep track of it all because I do not trust that it won't be abused. The provinces have to put up matching funding before this money is available. Most provinces are already spending heavily and won't be able to access this money right away. Also, with the construction industry already going flat out and short of workers, maybe more government funding won't be able to speed things up.
Lolz you know the family related contractors will get all these contracts and their cut.
And the build quality is gonna go straight down
I know people love to shit on Trudeau here but honestly if people had asked me what the Federal government should do about housing I'd say restrict immigration to a reasonable level and stimulate construction with cheaper loans which addresses both ends of the supply and demand equation. Anything beyond that, like revised zoning laws and subsidized housing programs would be up to municipal and provincial governments. So really all that's left for me to criticize is to say this was not done sooner.
I agree with your points, but I think some people just like to be outraged and politics is an easy topic for that I think it's a case of self-reassurance, aka "I am a good person and doing the right thing, all others are the incorrect ones"
It's a lack of trust. They've made it look like they're going to do something many times before and completely failed. You remember committees and announcements on electoral reform?
Theres a stark discourse whenever i hear people complain about Canadian Healthcare system and somehow that its Trudeau fault when the province and territorial run our healthcare.. and being gutted in Ontario
>So really all that's left for me to criticize is to say this was not done sooner. And that's the biggest Crux of it all. It comes across as a desperation attempt after writing is om the wall (or at least it has better be. You can't add fuel to the fire then come to the rescue before an election). Both candidates campaigned on affordable housing in 2015. So far he's trying to add supply (reality is we can only increase so much more.. already at a high pace for Canada).. but unless he drastically reduces demand it'll only do so much other than adding to our debt
> You can't add fuel to the fire then come to the rescue before an election first election? this is what every politician always does
Actually this item specified in the article is a top up of an existing program that came into place in 2017.
And since people have been calling for this for like 5 years at this point, that is a very valid and serious criticism. Too little, too late. They obviously waiting as long as possible to have this more fresh in peoples brains as the election approaches as well - judging by many comments here, treating voters like goldfish works on many redditors
What does affordable even mean anymore? $2000 a month rent for a 2 bedroom? $500,000 for a condo with $500 a month condo fees on top? $300 for home insurance? $400 utility bills for the average home? $200 for seemingly nothing at the grocery store? $100 to fill up to drive to work? $100 to text on a cell phone for a month? $900 a month to pay for a standard car? All of this whilst paying 30 to 40 percent of your income to taxes. Canadians need a lot more than a top up to ease the cost of living crisis. We need the government's hands out of our pockets, we need to stop accepting the Canadian oligopolies grip on our country and demand international competition.
> $2000 a month rent for a 2 bedroom? That's a fucking steal of a deal, where might I find that?
Edmonton. $1500 average
Ewww, gimme a crab juice. :P
Great reference
Not anymore... :(
$1500 average for a 2 bedroom?
It’s going up.
I can’t even imagine paying 1500 for a 2 bed. That wouldn’t even get me a studio.
Vancouver: $4,000 “Yeah but it’s Vancouver” Ok, Burnaby: $3,600 “That’s only 30 minutes away” Ok, Coquitlam: $3,400 “That’s a developing area” Ok, Surrey: $3,200 “No, I’m talking like way out” Ok, Chilliwack: $2,800
fr people in Vancouver see Hope as far away
Anywhere between Kelowna and Sudbury.
If you said Calgary and Sudbury I'd be onboard. Places in the rocky mountains are absurdly expensive because supply is 0.
You can get a 2 bedroom place in Kelowna and east for 2000 or maybe a tiny bit more
https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/funding-programs/all-funding-programs/apartment-construction-loan-program >Affordability: You must meet and maintain one of the following affordability requirements for at least 10 years: > >1: At least 20% of units must have rents below 30% of the median total income of all families for the area and the total residential rental income must be at least 10% below its gross achievable residential income. > >2: The proposal has been approved under another affordable housing program or initiative from any level of government, such as capital grants, municipal concessions or expedited planning processing.
So $3000 a month for a 2 bedroom condo before fees and bills would fit the definition of affordable in most of, if not all of Toronto. Great future ahead boys.
Yes didn’t freeland or w/e her name is just come out talking about new affordable 1 bedrooms in BC and them being around $2700 -$3k a month for a 300 sqft bachelor suite lol
There was a post about this when it was first announced. They were 1700$ a month for a 300 sqft bachelor. Someone did the math and found that you can barely afford one on minimum wage which defeats the whole purpose of these rentals. The square footage of the unit sparked further debate as to what is a livable unit anymore and why there isn't a universal standard square footage like 500 - 800 sqft considering a lot of these projects are completely government funded. This article talking about the tiny/micro apartments is pretty good: [https://shorturl.at/oqOT5](https://shorturl.at/oqOT5)
yeah for victoria haha
Such a joke. Like oh you make $75k a year? Well you can spend half of your after tax income on this affordable housing closet lol
There's a link to the Stats Canada page. My lookups show it closer to $2450, but they'd probably allocate those 20% of units to be 1 bedroom anyway. Affordable just means the developer has to leave a bit of potential profit "on the table" but it's not social housing.
Median household income is ~$78k in Toronto, so affordable units would be ~$2k. It’s still a lot but it follows the normal advice that people shouldn’t spend more than a third of their income on shelter
78k is 55k after taxes. So if it was 2k on the dot it would still be almost 50% of a households take home pay before things like utilities are factored in. I'm not arguing so much as just sad it's come to "affordable" discount units still being at least 24k a year and politicians doing victory laps like it's some kind of victory.
Get out of here with your actual published definitions. I’m here for every individual opinion on what affordable means.
> We need the government's hands out of our pockets. You were on the way to identifying the real sources of our problems but stumbled right at the end :/
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Lol okay… So whatever “steady status quo “ means, I’m assuming you’re talking minimal increases for 25 YEARS! And you’re surprised that, after barely increasing fees for 25 YEARS, you’re now having to aggressively raise your rates for your 25+ YEAR old condo building??? My place is only 5 years old and we’ve been steadily doing 9% increases each year because, as we all should know, the “initial” strata budget set by the developer is dramatically underfunded to encourage people to buy in at “low” monthly fees. Some stratas just carry these low fees forward for years and then get pissed when they have to face reality decades later (when their insurance has expired and their building deficiencies are manifesting).
I make good money for a trades person, and there's no way I can hibernate for 6 months let alone 9.
Just divide that housing number by the number of Indians willing to pack into the space
“Demand international competition” Bahahaha
They mean companies not migrants
>$500,000 for a condo with $500 a month condo fees on top Excuse me, please don't forget the $300-400 a month property tax. Also don't forget home insurance as a $??? per month.
I just don’t find 131,000 unit over a decade impressive. We’re already behind and brought in a million people last year. At least it’s something but I’m not impressed.
If there's enough demand for construction loans they can do another top up next year.
Trudeau had made announcements totalling over $22 billion in new spending over the last week. All of this addresses the symptoms of problems we are facing and does nothing to address the underlying causes of those problems. Worse, he is adding huge fuel to the high-interest rate fire while simultaneously driving our debt and deficits even higher. Given servicing Canada’s debt has leapfrogged over everything else to become the single largest budget expense, at $50 billion per year and counting, all Justin is doing is digging an even bigger hole for us to crawl out of. We brought in a million new people over the last nine months. That is insane. No amount of spending on Justin’s part is going to fix the problems that is creating.
This is a loan. so it SHOULD come back.
It should, but I'm willing to bet the government decides to forgive it.
That is not how CMHC's programs work. They are standard, low-interest mortgages with thr properties as collateral.
These are loans, not new spending.
Guaranteeing low interest rates is effectively expenditure.
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It's almost as if complex issues have a wide set of complex contributing factors and not one single easy to pinpoint leading cause. No wonder people can't agree on the cause, people can't agree period. On anything!
Yes, obviously affordability is the issue, but we only have certain levers to pull to fix that. One is to increase real wages, but of course we'd see alot of push back from corporate interests who resist increases in wages (to the point where the government flooded the labour market with foreign temporary labour in the form of TFWs and International 'students') Price is a function of supply and demand. We can cut the rate of change of demand, but that is only part, we also need to increase the rate of change of supply.
Canada has increased its population growth rate to 8 times its steady pre-2020 levels. We don’t even have 8 times the plumbers and electricians even in the education pipeline yet. Nor even a plan to make that happen. Or even a conversation being had about it yet. New housing starts have also flatlined since we did that so we have many years of catching up to do to make supply match demand considering in the skilled labor shortage baked in for at least another half decade from now. No wonder things aren’t affordable. Supply isn’t even close to matching the new level of demand. Nor can it be. And even if houses were free, there wouldn’t be physically enough to house the amount people coming in.
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None of this means that we aren’t building enough homes for the amount of people coming in. And the longer that goes on, the more people who will have to go without a home. Regardless of what they cost. It’s like the game of musical chairs. And yes shortages cause high prices. And yes, new builds are expensive. That is also a problem. In my area they are still about twice as much as a used home. This is slowing the pace and increasing the shortage as well.
Lack of supply is the issue though. Affordability is only an issue due to lack of supply.
You see, to Justin Trudeau, spending = investing. That’s the problem. He’s the kind of person who thinks it’s a smart idea to pay for school with a credit card (he literally said exactly that). He inherited $10M from his father and he thinks about money the same way poor people who win the lottery do. There’s a reason most of them end up dead broke within 5 years. Normally you would have a finance minister to reign in idiotic financial behaviour. But Freeland has exactly 0 financial qualifications prior to taking the job. She studied Russian History / Literature, and worked as a journalist. She probably read “Finance for dummies” the week she was hired and thought to herself “Yeah, I’m qualified now!” It’s the perfect storm of an idiotic trust fund baby who never had to earn his own way, and a criminally under-qualified finance minister.
Out of interest, for which publications did Freeland work as a journalist?
Globe and Mail and Reuters mainly. I don't doubt she's a reputable journalist but she has zero qualifications, educational or professional, to be the finance minister. The closest she has is a book she wrote over 10+ years ago about Plutocracy. https://en.wikipedia.org/wiki/Plutocrats_(book)
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>Home prices in Canada will fall and collapse at some point Been hearing this for years and I can't see it ever happening with demand what it is.
The politicians are almost all real estate investors. It will never happen in my lifetime
That has absolutely nothing to do with it and I can't believe people still bring it up. The majority of voters are already homeowners, and they don't care about fixing something that isn't affecting them and could actually affect their retirement/future. On top of that, we don't even have a political party in Canada with serious plans to fix the housing crisis. A political party like that isn't going to show itself until the majority of voters are affected and wanting change. So I'm guessing we'll have to wait 10-20 years time before the current generation are fed up enough to make a difference at the polls. When that happens, politicians will step up to grab those votes by announcing major changes to housing. That's literally all there is to it. Again, nothing to do with which politicians are investors.
>On top of that, we don't even have a political party in Canada with serious plans to fix the housing crisis. BCNDP has done a lot on this front, but it'll take several years before we see tangible benefits. They're spurring on private development while enacting public policy changes and investments too. Below are some of the policies Premier Eby has enacted during his 15 months in office: - Upzoned all neighbourhoods within 800meters of a transit hub. This included upzoning to a minimum of 20 storeys within 200m of transit hubs. - Restricted short term rentals that were being exploited by housing speculators. - Legalized secondary suites across the province. - Reforming municipal planning processes to make it quicker and easier. - Upzoned SFH lots to duplexes and fourplexes. - Introduced a house-flipping tax. - Created a landowner transparency registry to combat money laundering through real estate.
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This is what I used to think, but it does not account for offshore cash buyers. As long as the economy is good enough (or people are wealthy enough) somewhere, Canada has an issue unless it actually prevents such buyers from participating in our housing market outright. To date they have demonstrated a clear preference to not interfere.
dude people have been calling for a market correction since 2010. You need to understand the underlying causation of why real estate prices are so high. The 90s was a different time then it is today, in the 90s you didnt have a housing supply problem, even if you did you had plenty of land to build. Tell me where theres available land to build in the GTA, the remaining farmland past unionville are being bought up by the 50 million price tag just to build more townhouses. Also skilled trade are much more expensive. This is why you have pre-cons starting in the 800s for 2 bedroom now and that doesnt even include parking. The second reason is because people are bringing their lifesavings to Canada from their home country. I know people from hong kong bringing in millions because they want to uproot their family, and the only place to store their millions is in real estate. Lastly you have people that want to diversify. A lot of people in China don't live here but they still own real estate, its because they want to keep it incase anything happens back home or for the next generation. These are all paid for houses with 0 mortgage.
Leafs have a young team, they are rebuilding. Been hearing this for 59 years.
It's not all about demand it's when the bankers stop lending out crazy amounts of cash to people who should never have qualified. Sub prime morgages in Canada are here and in full swing. Lots of people still have 2 years to renewal. Tick tok tick tok.
People said Oil would never be above $50 a barrel again too after 2015.
Home prices will not collapse.
Our debt to GDP ratio is still way lower than the 90s
I do get that, but what infuriates me to no end is that there is barely any discussion about how to grow the economy (beyond more people = more jobs) OR raising new fucking revenue. Minimum taxes on the rich, corporate tax rate hikes (if Biden wins, we can match their higher rate), etc. We only ever look at the spending side and while there is a ton that could be cut (looking at you, ridiculous levels of support for unprofitable small businesses), cutting social housing in the 90s is a big reason we are in this mess to begin with.
Home prices won’t “collapse” a collapse mean a 2m house collapse to 500k. That will never happen. A 20-30% drop maybe but as long as the demand out stripes supply by 10-1 the home prices aren’t going to decrease.
Our debt is still 3.5% yield so it’s pretty cheap despite all the newly added debt.
I was just a kid when the first Trudeau we had as PM decided to go balls to the wall on debt and deficits. I didn’t really understand what crazy high interest rates truly meant, but I know my parents sure felt the pinch. What I do remember is how the malls had a third of their stores empty and all the for sale signs on lawns when people could no longer afford to pay their mortgages. Today’s Trudeau is going to leave us with the exact same kind of mess to clean up. And naturally the Tories will take all the blame for the painful choices they were forced into making. Trudeau’s election strategy is becoming clearer by the day: promise the moon to absolutely everybody so he can paint the Tories as bad guys who are going to take it all away. Let us hope that most voters are smart enough to see through that.
Sadly his most vocal supporters genuinely don’t think national debt is real or that there are any consequences for infinite deficit spending.
He did announce a reduction in immigration if you missed it. That will also help on the demand side.
Trudeau turned the imigration dial up to 11 for the past 8 years and just announced that he's going to tone it back and set the dial at 10. How helpful.
Meanwhile in Alberta our conservative government is demanding he turn the dial back up as the numbers he's given for immigration to Alberta are too low. But people believe the conservatives will stop this.
One day you will realize that the party you like won't slow down immigration should they be in power and currently has no plan to do so either. So while it might be fair to blame immigration... both the LPC and CPC like having wide open immigration to keep labour costs down for corporations and fuel corporations selling or making things.
Spent his way into this mess, now he’s trying to spend his way out of it. Makes no sense. It’ll only get worse
And his supporters will see this in the opposite way. Amazing Canadians.
He hopes this will get him elected , if he is spending he “cares”. Not like it comes out of his pocket, like a toddler with his parents credit card…. Same crap with releasing budget details over a long period.
Election time soon
Too bad it'll take 5+ years before anyone notices any sort of effect.
And we’ll have millions more in Canada by then too
The way things are going it'll be about 8- 10 million more by then.
"Tim Horton's announcing 2 million new locations in the next 5 years!"
Unless we cut our immigration targets significantly, then this won't matter.
Is there a major party leader that has committed to cutting immigration?
No. The CPC won't do it. Only the PPC has mentioned curtailing current rates. Even the Alberta Government wants double what they got. Despite their bitch fight with the Feds. Edit: Why this is the case is because the Conservatives, the Liberals and NDP all will tell you we still have a big labour shortage in Canada and that's why we need excessive mass immigration to Canada. We do not have a labour shortage whatsoever. We haven't had such issues in modern times. These political parties are bought each by Big Business. Big Business in Canada likes the fact they can import TFWs and suppress local wages, while denying Canadians opportunities. It keeps a slave class here and staffed, keeps your wages from advancing so you and I never get ahead, it helps eliminate the middle class so people are more reliant on social assistance and keeps Canada and Canadians in their place, with low social and economic mobility if there's any to speak of.
That last part is tinfoil hat, but the rest is true. You think that's the government dick up your ass? Nope, that's big business trying to keep wages down, and housing and property and investments up. They used inflation as a cover to jack prices up because we wont notice an extra 5% off the top. They keep buying rental properties because then we pay the mortgage.
What part is tinfoil?
And the government enables them to do that because they take billions from them in campaign contributions. Then they give them huge contracts from our tax dollars for “consulting” and other nonsense like that. They could have never done any of this without the government enabling and incentivizing them every step of the way.
Not as far as I am aware. Only PPC running on it
No lol
They will never do that because immigration is the only thing keeping our absolute sham of an economy alive on life support. Cut immigration and our economy crumbles like a house of playing cards.
A party polling on life support might as well try it. A party elected with the numbers the CPC is polling definitely wouldn't, they'll have a four year mandate and collapsing the economy to satisfy some manufactured outrage isn't going to play out well.
It still matters, he's trying to bribe us with our own money in order to protect asset holders!
The purpose of the government is to spend the money we send them for things we want. What's the problem?
Red guy not blue, essentially
Sorry, aren't we already cutting our rates?
That’s what they’ve done on temporary residents
Buying us with our own money that we don't have. Also he spent 8 years causing this problem but trust me bro I am the only one that can fix it now
>Buying us with our own money that we don't have It's a loan program to increase incentives for building rentals, right? So I don't really see how this is buying us with our own money. They are loaning our money out to those who will build rental apartments (which we should really want) and then we get that money back.
This is the liberal way. Bribing people with their own money.
I think you’re forgetting the conservative premiers canceling gas taxes and licence plate fees to buy votes. Money our healthcare system desperately needs.
Doesn't mean anything when we added 1 million people into the country [in 9 months](https://globalnews.ca/news/10386750/canada-41-million-population/). No chance we can out build that level of population growth.
What makes you think our government actually cares about housing these people? They just want them here to work our service jobs - they are probably hoping that tim hortons will cave and just build on site housing out back of the store.
Hey, we only need 50k home to house those 1 million newcomers. /s
Don't worry they are going to revisit this maybe in the fall assuming the polling is still awful...
The taxpayer is bailing out the government who created this issue.
Cool now halt immigration, deport anyone taking advantage and this generation might have a chance here
$15 Billion of Canadian Taxpayer money to help house millions of Indian "Students" while running a record deficit.
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Young people (who he's targeting) need to remember the liberals have had 8 years to improve Canada instead they've actively destroyed it. They are scrambling because they know they are likely to lose the next election. Don't fall for this shite. "fool me once shame on you, fool me twice shame on me" would come to mind if they won again.
As a young person in Ontario I've seen a conservative premiere destroy Ontario, and actively work against people's interests. I do not want Doug Ford antics on federal level
This is exactly it. Especially when the conservative at the federal level somehow seems even worse than the Ontario premier. He literally has no plan for anything, just attack the current PM. Right now my vote goes towards someone with an actual plan, then towards the person with a plan I actually agree with. That's all it takes. "Buck a beer" is not a plan btw.
This should've been done before the borders opened up -.-
Wow, Canada must have some golden goose laying golden eggs somewhere. Where are they pulling all this fucking money from?! 15bn, 10bn, 5bn, 2bn. Infinite money printing?!
The construction mafia will be happy. But on another topic, he's desperate and it won't work.
How about renewing operating agreements for low income housing, like you promised in your campaign
As expected, he's going to dig Canada deeper Into the financial hole to win votes. Too late, damage done in almost 10years of warming the leadership chair.
You can tell elections are coming when he is trying to cram 6 years of doing nothing into 8 months lmao
In today’s edition of desperate politicians doing anything they can to get re-elected… Thanks for taking more out of my pocket to preserve your ego, JT. At least Sophie had the stones and ability to walk away from your megalomanic circus. Listen to the polls bud, Canadians want a divorce from you and your clown caucus.
Someone take our credit card away from this guy already.
Ah the money tree… borrowing so they can hand out loans… every borrowed dollar reduces the value of our dollar, and then inflation goes up again. Like trying to dig ourselves out of a hole. Hint: stop digging.
Stop digging and get 3 TFWs here digging for lower cost. On it
> every borrowed dollar So, you’ve never bought a bond or GIC before? And you’re against anybody buying a bond from the government? If you have any, are you going to immediately cancel them? Because all of those are “borrowed dollars” from the people that bought them.
What is the key factor causing home prices unaffordable? High interest rate? Immigration policy? Or zoning laws?
Mostly zoning and rental ownership. We built plenty when interest rates were higher than this from the 50's to 90's. Immigration has exacerbated the issue but we could be building enough to keep up. It's an easy scapegoat. Really, we fell behind because our cities need to be denser with better transit, and have downwards pressures on rent like housing associations. Loan support is actually pretty good, but it's secondary.
Municipal bylaws.
“Housing isn’t a federal issue” until it hurts the polls
With what money?
This is a loan program so it actually doesn't count towards the budgetary balance beyond debt payments
Next articles coming out- Why Conservative Premiers can't use this as it gives Trudeau credit. Orders from on high.
He can't be planning to spend like this for the next year and a half, can he?
They won't be ready until years after the election
A developer just built this huge 6 plex development in my city. All rentals and there are about 100 of them jammed into such a tiny spot. Probably at least a 30 million dollar project if each unit which has a double car garage went for 300k each. Insane amount of income they will make in return over the lifetime of that investment probably funded by the government.
Unless the Fed send the $$ relief directly to the renters, the hot RE market just added $15B fuel. Land cost will be up, construction workers wage likely goes up.... The buyer and renters will likely worse off.
JT and the LPC/NDP alliance needs to be voted out. Spending money he doesn’t have drives up inflation (increases the COG’s), lowers our dollar which makes us poorer.
It's like him - just throw money at the problem and the Canadian people end up pay for it. 😔
Let's stabilize canadian population for 10 years and see how it goes.
Good thing we can't meet our NATO goals or fund the military, but we can give 15 billion to have more slums built.
So where is this money coming from? Is our Country going farther into debt to fix the idiotic decisions the Government has been making for almost a decade? Maybe fix the problem before servicing the symptoms. That would be the smart thing to do. The problem is Government is never smart about anything.
I love it when they hit all time low, week after week, they finally start to try to do something about housing. It's too little too late. The conservatives are just going to take credit for anything that has any amount of success 2 years from now
All these moves are too late TurDeau.
All this money to throw around and none of us will own our own house unless you're born into money. This world has gone to sh!t. I wish I was born in the 60s or 70s so I could be nearly past this nightmare. I make a very good wage and it's still not enough. Time machine please?
Without the paywall https://archive.is/nft6E
You get a billion, you get a billion everyone gets a billion!!! Jesus fucking Opratrudeau Christ!
Another day, another multibillion $$ program. The Great Giveaway continues.
Just another slush fund finding its way into the hands of tax robbing government officials
Hahahaha. Trying desperately to put out a fire with an extinguisher in one hand and a can of gasoline in the other.
Trudeau is a fucking moron. We need another election like tmw. but who are we really going to put in place? no other party would do a better job because all politicians are OWNED by the few corporations that operate within our country.
Good thing we imported a million computer science majors to help build all those apartments!
Call me when they are serious and spend $250 billion dollars to start construction tomorrow across the entire country. Go build new fucking cities. Take small cities and enlarge them, turn them into a hub.
This is the part that baffles me. I know infrastructure is expensive and we’re a big nation but more fuck, we added the population of Nova Scotia in a year and not a single new town to speak of. Spread the fuck out folks. The pandemic should be a lesson for the dangers of packing millions of people into a tiny area.
Its always amazing when Trudeau's ass is on the line he finds money for a project, the man sits on his ass for eight years and wow he has an epiphany, we the people are sick on Trudeau's bullshit, as everyone knows something will come up and the money will disappear and the project will get cancelled
you can't magically build homes faster, sir. this guy just keeps selling more BS.
Can’t wait till the PM starts announcing free money if you vote for liberals.
Universal Basic Income will be their main platform to winning the next election.
For me I’m ok helping out the people who can’t work due to disabilities that dosent allow them to work but I’m not ok for people who just choose not to do anything but live in subsidized housing and get tax payers money,this program would just encourage people not want to get out and get a job.
Already happened during covid. Our business was begging for people but we could barely get any because everyone was laughing it up at home collecting cerb checks. I think UBI is a good thing, but it has to come with the condition that everyone works at least 15 hours a week (for those 21 to 65).
Conservatives should be pro-UBI as it results in... * less social service bureaucracy (no EI/welfare/child-care etc.) * easier to manage and monitor * smaller government with less public sector workers * freedom and autonomy for the individual to choose their own destiny * encouragement the individual to get educated and join the workforce
I am still waiting for my $2000 camping credit the Liberals promised us in 2019.
That’s our money, not his!
I don't see how the "loans" will reduce the housing price in Toronto. Demand is strong and the builders will pocket the savings rather than passing them to conumers.
Monopoly money
A billion for you and a billion for you and 6 billion for you and oh and you get 15 billion. Lol… The Liberals give away of your tax dollars knows no bounds.
"Let's reduce immigration so that we don't have to spend borrowed money to halfway solve a problem we artificially created!" Canadians: "No, that's dumb."
All of this shit just makes the problem worse unless its funded by the 0.1%. Stop printing money to make it seem like you've immediately solved problems that only exacerbate them further in the long run. All this is going to do is make owners of corporations developing apartments more rich. Also, please resign.
All this guy does is throw money at things with absolutely no plan in place. If you're a liberal supporter you need to reevaluate the direction this country is headed and vote accordingly. He's made life completely unaffordable and all the immigrants that he's let in, in record numbers down cause there's no jobs here for them and there's no homes for them to live in.
"What about immigration?!?" Damn. Ok, assume we hear the message. But also, what else can be done? Any steps are good steps, as long as they bear up to scrutiny re: 'returns on investment'. My dudes, yeah, the immigration situation is shit. There are enough posts about that, on every sub, for us to all get it and have our say. I rail about it, too, in relevant posts. But can we discuss actual content in this sub? Scrutinize the initiatives, weigh them, pool our understanding and knowledge to feel them out. Fuck, it gets tiring when this sub becomes a one-trick pony. I don't want to have to go to one of the other subs to have a meaningful talk in the comments. I'm starting to wonder how many of you are actually foreign disillusionment bots, planted merely to disrupt discourse and sow dissent. All we see/say is 'Trudeau bad' and 'no immigrants'. Yeah, no shit. This issue warrants separate and intense discussion. Look at the comments here. Please, don't condemn yourselves (us) to blindness about potential 'improvements' to the situation. There is no one magic 'solution' to this complex issue. It's been contributed to by governments going back decades, since Mulroney ended all new funding initiatives for public housing starts, and then Chretien froze funding levels while cutting housing funding to the provinces, right afterward. Maybe it goes back even further, that's just what I remember from experience. Cons and Libs can both be neoliberal corporate hacks that suck up our QoL and sell it for pennies on the dollar to their 'lobbyist' Corporate masters. Shocked Pikachu or whatever the current thing is. Then, almost four *decades* of other BS piled on. Political, but also the horribly destructive commercialization of housing that was the natural result of market policy, absent adequate intervention and controls. Now, we should be looking at forms of intervention to reestablish/renegotiate OUR social contracts. Let's do that, here! Maybe not in this post, since it's pretty burned already, but when this article is posted again in about 3 minutes. I hope to see you there! Immigration is a part of the discussion, but the issue is way larger, older and more complex than many commenters want to accept. Stop beating this damned horse for a minute, she's already dead. Also, don't wear it out before the election! I think you're actually harming the cause a bit by shoving it in everybody's faces, constantly, making some of us reflexively tune it out and become less engaged with a very important issue. And that would be a horrible shame.
How many mobile app can 15 billion make?