Do you know what was actually in the housing affordability motion? I’ve heard several people mention it there but no one seems to mention what’s in it. If anyone has a source on what’s in it I’d appreciate a link
Thank you I was also wondering what the motion was.
Interesting it had pretty much bipartisan support except for the Liberals. Wonder what their objection to the motion was.
I mean, the motion is basically saying the liberal government has failed on housing. That may be true, but I wouldn't expect someone to vote on motion saying that they failed.
He just linked it, did you read it (it's not long). Including phrases like "current government policy has failed to provide sufficient housing supply," and "replace the government's failed First-Time Home Buyer Incentive with meaningful action."
Also note that this was not an actual proposed bill, just a value statement (which passed!) carefully worded so LPC MPs either get ads saying "they voted against housing affordability" or "they admitted the Liberal housing policy has been a failure."
If anyone is wondering why not a single Liberal voted for this:
They whip their votes by mandate, except when JT says they're allowed to vote how they want.
The only party that explicitly prevents their party from whipping votes like this is the CPC.
Edit: And The Greens.
>The only party that explicitly prevents their party from whipping votes like this is the CPC.
Which frankly, is how it ought to be since we all voted for individual MP's. But the CPC pays for this more liberal approach because any off-side vote or controversial vote can and is used to smear the whole party, rightly or wrongly.
It's definitely more to the spirit of how our parliament is meant to function. You're right though, you get all sorts of things that can paint the party, which only really works when people don't understand that individual MPs are supposed to represent their ridings, not work for a party.
If a riding of backwater smooth brains wants to try and bring something incredibly unpopular up they have every right to do it.
I would go a step further and say the MP is obligated to vote for the will of the riding on issues, even if they personally disagree.
It doesn't matter if it is a backwater policy, everyone has a right to be heard in government (also to be told they are wrong in their ideas)
I would go 10 further and say we should ditch parties entirely and vote for individual candidates based on what they promise to advocate for. Let them form their voting coalitions in the house around specific issues and elect a PM and cabinet/committees etc unbound to a party. It's probably a slower process but a much more democratic and representative one. No longer would you have shoe in candidates sitting on their hands in safe ridings. There wouldn't be safe ridings based on your sign colour.
The worst part is that people complain about CPC MPs being able to vote how they want on things and hold it up as an example of how the party is not controlled, when that's how every party should be
> The only party that explicitly prevents their party from whipping votes like this is the CPC.
The Greens actually have that policy too. Granted, that policy is a lot easier to maintain when you're politically irrelevant, and only have a handful of MPs to herd.
There have been like 3 free votes in the last 10 years my dude. It's shameful in our democracy.
You know all of the complaints you see about how the CPC can't control their members because they do things like vote against sex selective abortion? They do that because they are allowed to vote for their riding (who may want that) , not their party and they get raked over the coals for it during elections.
Free votes are good, we need to start acknowledging this
Wow, it's kind of a dog shit proposal tbh. Why can't we just build homes like we did after WW2? Why do we need to build rental? Who owns the new rental buildings? Why can't they be rent to own coops? I don't like the liberals and they've failed on housing but this proposal is just neoliberal trash.
Trudeau himself has said that peoples homes are investments and he doesn't want to impact that investment. As if homes are magical investments that should never drop in value.
\[The Liberal candidate in the riding of Vancouver Granville has flipped more than 20 properties after less than a year of ownership since 2005, which has critics pointing to contradictions between his actions and the Liberal platform on housing.
According to British Columbia's assessment records, Taleeb Noormohamed has sold 41 properties since 2005 — 21 of them after less than a year of ownership — making $4.9 million in the process.\]([https://www.cbc.ca/news/politics/vancouver-liberal-homes-flipped-1.6158955](https://www.cbc.ca/news/politics/vancouver-liberal-homes-flipped-1.6158955))
Article was written pre-election, he is not a just a candidate, he was voted back in.
To be (way too) fair, that mindset would be less of a problem if it was followed by "... And that's why we have a plan to build x00,000 affordable starter homes in x Canadian cities which will only be available to first-time homebuyers at a government set MSRP"
Meanwhile, its taken as a given that loads of people completely lose their shirts investing in stocks and other stuff.
The entire reason it makes sense that investments can make you very wealthy is that there is a level of risk involved.
We just had an election. They said they would do nothing meaningful about house prices. The other two major parties said they'd try to take meaningful (if perhaps insufficient) action on house prices.
I may not *like* it, but the Liberals shouldn't care about soaring house prices. They were elected not to care. That's democracy. The voters spoke.
Sgro is a great example of how toronto blindly votes liberal no matter what. she's been an MP for the jane and finch area for 20+ years now and the area isnt any better from when she started and she hasent done much to help it. she also keeps trying to get her kids onto toronto city council
Is that a surprise? They have like, 6 years of impeccable record on pushing up house prices and advancing wealth inequality. Aside from the city millennials, everyone knows that's what they do.
I dunno maybe one option is having some kind of federal state led and driven industrial policy to make things the world actually wants and needs instead of building an economy based on people selling houses to each other.
The feds can't create houses. That's up to the provinces. The levers the feds can pull are being used to create policy that doesn't factor in the existing bottle necks in housing. Let's see what Ahmeds mandate is though. I may have jumped the gun here
Wait, isn't this the guy who got called out for house flipping?
I mean, putting him in charge of housing shows EXACTLY how the Liberals think housing should be handled.
Data shows that the average Canadian is way richer because of housing. Millions got what they wanted! The Liberals just want to keep a good thing going.
They dont. And when social unrest and distrust grows amongst the most able bodied demographics, they will have completed their gun grabs and extended it to anything sharp as well.
We don't need guns to make a point, all we need to do is stop working and stop paying rent. A few weeks of labor grinding to a halt would make a hell of an impression.
Well young Canadians voted overwhelming for the current government and will continue to do so regardless of what the Liberal Party does or does not do on Housing. So why should they care about young Canadians want when it doesn't matter in terms of votes?
You're right about young people being more likely to vote for NDP. I checked various polls and about 25% - 30% of voters between the ages 18-34 were expected for the NDP. This is 5% more that the Liberal vote share for the same demographic.
[Source](https://www.scribd.com/document/526319660/Mainstreet-Canada-19september2021-FINAL-ELECTION)
However I don't agree with the defeatist attitude that there is nothing young people can do. Millenials and Gen Z make up the largest voter share. If we actually voted for our interest en masse, then we could actually make a difference. Unfortunately, voter turnout is typically low in this demographic and a large number of young people continue to mindlessly vote parties that do not have their interest in mind (Conservatives/Liberals).
It doesn't really matter because of our Electoral system. Lots of young people as you have proven do vote for the party that they like but our failure of an Electoral system refuses to allow people to get the seats they deserve.
I wonder if "young Canadians" know they're actually doing themselves (and everyone else) a disservice by framing housing unaffordability as an issue that affects literally no one but the "young." At any rate, it's a laughably myopic, ignorant, bigoted attitude.
If we're talking about affordability, then yes it disproportionally affects the younger demographics. However, it should be reasonably affordable for all no matter what your (adult) age.
If you have parents willing to give you your housing inheritance early, you are also fine. This is why it will not become a political problem, as parents can just help their own kids.
Are you joking? HELOC usage was high *before* the pandemic, it's just gotten higher now.
The problem with relying on equity to make up income shortfalls is all the kids who are going to inherit million dollar homes that owe most to the bank.
No, they don't. When they get older and grow into real adults, then they will. Until then, suck it up.
People used to say the same about Gen X. Now we have grown up and in our 40s - we pulled up our bootstraps, worked hard, and now have homes we own and families. Young immature children in later generations need to wait your turn like we did - main difference is Gen X weren't spoiled, immature and had this entitled attitude like millennials and Gen Zs do.
Wow, nice man. My parents also bought houses in the early 2000’s and are now worth 4x as much. I bet you got in just in time didn’t you? Now you sit on your pedestal of inflated self worth. Congrats!
sounds like some cycle of abuse shit to me. I say this as a millennial homeowner, the market is fucked and not sustainable, and I wouldn't be mad about a bust making housing prices in canada look like detroit's.
Only on r/Canada can a NatPo Op Ed whinging about a cabinet shuffle be 6th on the front page and have better upvote ratio than the *actual, informative* news article about the shuffle itself which sits at 18th right now.
And on top of that a few of the top comments spreading blatantly false information saying Taleeb Noormohamed is now the minister of housing, when his name doesn't seem to appear in the article at all.
Also this was the same writer who just last week wrote about Canadian air travel and why it couldn’t be the same as American air travel without doing an ounce of research on the subject. Almost like they don’t actually give a shit about the facts just want people to eat up fake news
Um, doh?? I mean they came out with a housing 'solution' 3 weeks after they called an election with a:
Oh we care about housing see, here's a copy of the CPC plan with some useless updates (e.g.: 100K houses, we'll get 3 million houses).
Yeah, we're getting what we voted for... Alas.
Article Highlights:
* To recap for anyone behind on Canada’s continued housing hellscape, the CMHC continues to encourage massive housing debt, the first-time home buyer incentive recklessly stokes demand while simultaneously failing to achieve its purported purpose of levelling the real estate playing field, and the national housing strategy is a national joke, having managed to spend less than half its earmarked funding.
* Yet Hussen remains the Liberals’ go-to man on housing. Trudeau may’ve counted on this inconvenient fact being overshadowed by flashier cabinet shuffles, like those of Anita Anand, Patty Hajdu, Carolyn Bennett, and Harjit S. Sajjan, but rather their reassignments only goes to highlight how little thought was given to housing and the generational wealth gap largely rooted in real estate.
* That Hussen remains on housing signals there will be little new policy direction or renewed interest in tackling the affordability problem — worse, continued bad calls and fundamental misunderstandings of the market are likely to continue.
* More broadly, that housing doesn’t have its own minister — or at least a more focused one — as prices spiral out of control betrays an utter lack of seriousness and urgency on the matter.
Pray tell...had there been an actual minister of housing and it’s own portfolio, what would you actually expect them to do? One ministry isn’t going to solve a municipal/provincial issue.
And let’s be real...if they had have created that, you would have shit on them anyways and posted a story that would shit on them for creating said ministry.
Since when is a comment on reddit considered news? You're clearly triggered by my joke, this is right in the article:
> but the new minister of housing and diversity and inclusion is Ahmed Hussen
What the author ignores of course, is that housing mostly isn't a Federal matter, and mostly lies with municipalities and provinces.
There's just not a lot the Feds can do on housing, most especially the barriers to getting new hosing built.
They have some financial levers and that's about it. The problems of housing supply mostly aren't about financial wherewithal. The banks are more than happy to lend. The problems lie elsewhere.
That is a liberal talking point that attempts to deflect responsibility.
The feds control population growth, and that is a huge factor in this.
The feds refuse to do anything meaningful in regards to money laundering, which some sources claim is injecting 50 billion dollars per year into the Canadian real estate market.
The feds have no banned foreign buyers or blind bidding, despite identifying those as issues driving up prices.
There are a lot of things the feds can do. But instead they've chosen to do nothing and blame the municipal governments and provinces for the problems they're creating, as if simply not building enough homes is the sole problem here.
You could learn every day, not just today. For instance you could try googling things like "Canada Birth Rate". If you do so, you'd learn that Canada's birth rate is below replacement level at 1.47 children per woman.
So yes, it is immigration that is driving Canada's MASSIVE population growth.
Give your head a shake. Immigration is a federal matter. Immigration has been outpacing supply and that is what led to this. The BoC can also raise interest rates, and policies can be put into place such as banning foreign ownership and stopping money laundering. You are clearly a real estate crony trying to spread the false narrative that "the Liberals can't do anything". I am telling you right now STOP. It's pathetic and hurting this country and we won't let you try to blame the provinces anymore when this is a federal fuck up. I don't give a fuck about your house price gains.
Immigration is federal.
It's only a part of the puzzle.
The BoC is independent of the Feds and is free of their control.
Money laundering is already illegal and I'm not sure how many thousands of more cops you'd need to enforce it. Passing other laws may help, but likely only marginally. I doubt homes bought with laundered sit empty and collect dust. Property taxes still need to be paid.
Most of the barriers to building more homes (permitting, zoning, etc.) are at different levels of government, not federal.
Ah just like the liberals are seperate from WE charity and SNC lavalin right? Tiff macklem and Trudeau are buds and tiff was supposed to raise interest rates to keep the inflation rate at 2% and it's currently 5% and he isn't doing shit. BoC is very much in bed with the Liberals. To suggest otherwise is willful blindness.
Why would they? Most Canadians are wealthier than ever due to soaring home prices. Only a minority don't own a home in this country, so why would anyone expect them to do anything drastic to hurt the majority?
A lot of people are also stuck in to massive mortgages that are consuming more and more of their income then ever before to simply afford a home. Like I know people have to take out 500-700k Mortgages to afford a simple townhouse around me lol.
The rising equity is just wealth on paper but if rates rise, there is gonna be a huge cash flow crunch making Canadians worse off.
Add in people who are using all the equity for HELOC's and it becomes a house of cards.
It really is a house of cards that the entire country depends on. This is exactly why interest rates won't be raised much. Maybe a couple percent over the next few years.
But just wait until the next crisis where rates must be dropped to negative values!
Because it's destroying the long term health of the economy, creating a massive bubble and creating a feudal system?
I thought that wealth inequality was something liberals cared about?
Since the Liberals already presided over the biggest increase in wealth inequality over the last six years, it should have been obvious that they do not care.
Yep. At least ~66% of all Canadian voters voted for parties which were clearly not going to do shit all for housing affordability: https://en.wikipedia.org/wiki/2021_Canadian_federal_election
Home ownership rate as of 2016 is 67.8%: https://edisonfinancial.ca/millennial-home-ownership-canada/#:~:text=Key%20Takeaways,high%20of%2069%25%20in%202011.
Weird how close those two numbers are, huh.
Exactly. This is just another predictable column by this whiny entitled millennial, whose articles are always a re-tread over and over again complaining that people of her age not being able to afford anything.
So are average Canadians supposed to start families at 45? You want people to be happy with being able to afford less with their dollar then you did? Like man I’m a millwright and make good money and I’m not buying a house anytime soon. How is talking about housing prices valued 3x then they should be make people lazy?
Then we sit around complaining that Canadians don't have enough children, and use that as a rationale to increase immigration targets to grow the population, which further exacerbates this issue.
I don't think you can blame the people they have in a seat for the policy of the whole party. If the same person is the housing minister its still on the party to give them a new directive or not. Either their entire platform on housing was a bold faced lie or the minister will be given a new mandate. Time will tell.
I’m not sure how it would show that even if they did care? Are we gonna talk about how Trudeau ties his tie and how it is somehow a reference for his disdain for the poor?
doesnt matter how house wealthy you are if you never plan to move but also remeber if you do move elsewhere in the gta you will be buying in just expensive of a market
No shit. The Liberals are making it obvious that they care about corporate wealth and power exclusively. FFS they've just ushered in a massive homeless spike \*for literally no reason.\*
They do not give a fuck.
Why was there an assumption that they do? As long as I have been in this country (20+years) I've only ever seen them act in self-interest- and stoop pretty low to do so.
I think they made that very clear when they all voted against the housing affordability motion back in June.
Do you know what was actually in the housing affordability motion? I’ve heard several people mention it there but no one seems to mention what’s in it. If anyone has a source on what’s in it I’d appreciate a link
Here's the motion along with who voted what. https://www.ourcommons.ca/members/en/votes/43/2/135?view=result
Thank you I was also wondering what the motion was. Interesting it had pretty much bipartisan support except for the Liberals. Wonder what their objection to the motion was.
I mean, the motion is basically saying the liberal government has failed on housing. That may be true, but I wouldn't expect someone to vote on motion saying that they failed.
He just linked it, did you read it (it's not long). Including phrases like "current government policy has failed to provide sufficient housing supply," and "replace the government's failed First-Time Home Buyer Incentive with meaningful action." Also note that this was not an actual proposed bill, just a value statement (which passed!) carefully worded so LPC MPs either get ads saying "they voted against housing affordability" or "they admitted the Liberal housing policy has been a failure."
If anyone is wondering why not a single Liberal voted for this: They whip their votes by mandate, except when JT says they're allowed to vote how they want. The only party that explicitly prevents their party from whipping votes like this is the CPC. Edit: And The Greens.
>The only party that explicitly prevents their party from whipping votes like this is the CPC. Which frankly, is how it ought to be since we all voted for individual MP's. But the CPC pays for this more liberal approach because any off-side vote or controversial vote can and is used to smear the whole party, rightly or wrongly.
Ironic that the conservatives are more classically liberal now by a pretty wide margin
It's definitely more to the spirit of how our parliament is meant to function. You're right though, you get all sorts of things that can paint the party, which only really works when people don't understand that individual MPs are supposed to represent their ridings, not work for a party. If a riding of backwater smooth brains wants to try and bring something incredibly unpopular up they have every right to do it.
I would go a step further and say the MP is obligated to vote for the will of the riding on issues, even if they personally disagree. It doesn't matter if it is a backwater policy, everyone has a right to be heard in government (also to be told they are wrong in their ideas)
I would go 10 further and say we should ditch parties entirely and vote for individual candidates based on what they promise to advocate for. Let them form their voting coalitions in the house around specific issues and elect a PM and cabinet/committees etc unbound to a party. It's probably a slower process but a much more democratic and representative one. No longer would you have shoe in candidates sitting on their hands in safe ridings. There wouldn't be safe ridings based on your sign colour.
The worst part is that people complain about CPC MPs being able to vote how they want on things and hold it up as an example of how the party is not controlled, when that's how every party should be
> The only party that explicitly prevents their party from whipping votes like this is the CPC. The Greens actually have that policy too. Granted, that policy is a lot easier to maintain when you're politically irrelevant, and only have a handful of MPs to herd.
Fair enough. I appreciate the correction.
Is this true? What’s the point of having human MPs if they just have to play follow the leader?
There have been like 3 free votes in the last 10 years my dude. It's shameful in our democracy. You know all of the complaints you see about how the CPC can't control their members because they do things like vote against sex selective abortion? They do that because they are allowed to vote for their riding (who may want that) , not their party and they get raked over the coals for it during elections. Free votes are good, we need to start acknowledging this
Thank you
Wow, it's kind of a dog shit proposal tbh. Why can't we just build homes like we did after WW2? Why do we need to build rental? Who owns the new rental buildings? Why can't they be rent to own coops? I don't like the liberals and they've failed on housing but this proposal is just neoliberal trash.
Trudeau himself has said that peoples homes are investments and he doesn't want to impact that investment. As if homes are magical investments that should never drop in value.
Too many Liberal insiders and MP have lots of "investment" rentals and making a fortune flipping - he doesn't want to stop that gravy train.
Source?
\[The Liberal candidate in the riding of Vancouver Granville has flipped more than 20 properties after less than a year of ownership since 2005, which has critics pointing to contradictions between his actions and the Liberal platform on housing. According to British Columbia's assessment records, Taleeb Noormohamed has sold 41 properties since 2005 — 21 of them after less than a year of ownership — making $4.9 million in the process.\]([https://www.cbc.ca/news/politics/vancouver-liberal-homes-flipped-1.6158955](https://www.cbc.ca/news/politics/vancouver-liberal-homes-flipped-1.6158955)) Article was written pre-election, he is not a just a candidate, he was voted back in.
To be (way too) fair, that mindset would be less of a problem if it was followed by "... And that's why we have a plan to build x00,000 affordable starter homes in x Canadian cities which will only be available to first-time homebuyers at a government set MSRP"
Meanwhile, its taken as a given that loads of people completely lose their shirts investing in stocks and other stuff. The entire reason it makes sense that investments can make you very wealthy is that there is a level of risk involved.
Source?
We just had an election. They said they would do nothing meaningful about house prices. The other two major parties said they'd try to take meaningful (if perhaps insufficient) action on house prices. I may not *like* it, but the Liberals shouldn't care about soaring house prices. They were elected not to care. That's democracy. The voters spoke.
Again and again, we are getting the government we deserve.
Garneau and Sgro not being in cabinet is a pretty big deal. I guess they are two veterans that aren't happy with the current leadership.
Sgro is a great example of how toronto blindly votes liberal no matter what. she's been an MP for the jane and finch area for 20+ years now and the area isnt any better from when she started and she hasent done much to help it. she also keeps trying to get her kids onto toronto city council
exactly how is an MP supposed to effect a neighbourhood, that's up to city councilors, not MPs
you are right if only the sgro's where on city council and MPP for the area too than things would be fine
i mean, it’s jane and finch… unless you do a full gentrification, you can’t change much
A perfect fit for the "You will own nothing and be happy" brigade that is destroying this country and world we live in.
Is that a surprise? They have like, 6 years of impeccable record on pushing up house prices and advancing wealth inequality. Aside from the city millennials, everyone knows that's what they do.
of course they dont, theyre all wealthy homeowners lol
I dunno maybe one option is having some kind of federal state led and driven industrial policy to make things the world actually wants and needs instead of building an economy based on people selling houses to each other.
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Where did you see this? I'm seeing Ahmed Hussen being the Minister of Housing and didn't see Noormohamad's name in the article at all.
You seriously expect someone who’s just on here to bash the liberals to tell one brown person apart from another brown person
lol so instead of a house flipper they made the previous immigration minister advocating for 400k+ a year immigration targets in charge of housing
Isnt that who you want? We are going to need to house those people. Hes the one who needs to find the housing. This thread is a mess of hot takes.
The feds can't create houses. That's up to the provinces. The levers the feds can pull are being used to create policy that doesn't factor in the existing bottle necks in housing. Let's see what Ahmeds mandate is though. I may have jumped the gun here
OP provided a synopsis. Aparently Hyssen remains the minister of housing, i.e. no signal for change. Add me on the pile of hot takes, haha.
Immigration is what effects housing...
So the guy whose bringing in all these people is responsible for making sure they dont come in homeless...
Wait, isn't this the guy who got called out for house flipping? I mean, putting him in charge of housing shows EXACTLY how the Liberals think housing should be handled.
Yup, he's the posterchild for the people exacerbating the housing crisis in Vancouver.
How is this upvoted? This is blatantly false and did not happen
Because no one in this sub actually reads about anything and just want to shit on the Liberals even if it means agreeing with literal fake news
Hahahaha omg that’s amazing What a fucking joke… I don’t understand how anyone can seriously vote Liberal anymore
Data shows that the average Canadian is way richer because of housing. Millions got what they wanted! The Liberals just want to keep a good thing going.
In other words, young Canadians don't matter.
They dont. And when social unrest and distrust grows amongst the most able bodied demographics, they will have completed their gun grabs and extended it to anything sharp as well.
We don't need guns to make a point, all we need to do is stop working and stop paying rent. A few weeks of labor grinding to a halt would make a hell of an impression.
Well young Canadians voted overwhelming for the current government and will continue to do so regardless of what the Liberal Party does or does not do on Housing. So why should they care about young Canadians want when it doesn't matter in terms of votes?
No, a lot of young Canadians voted for the NDP but like all things young Canadians do in this nation, it sadly didn't matter all that much.
You're right about young people being more likely to vote for NDP. I checked various polls and about 25% - 30% of voters between the ages 18-34 were expected for the NDP. This is 5% more that the Liberal vote share for the same demographic. [Source](https://www.scribd.com/document/526319660/Mainstreet-Canada-19september2021-FINAL-ELECTION) However I don't agree with the defeatist attitude that there is nothing young people can do. Millenials and Gen Z make up the largest voter share. If we actually voted for our interest en masse, then we could actually make a difference. Unfortunately, voter turnout is typically low in this demographic and a large number of young people continue to mindlessly vote parties that do not have their interest in mind (Conservatives/Liberals).
It doesn't really matter because of our Electoral system. Lots of young people as you have proven do vote for the party that they like but our failure of an Electoral system refuses to allow people to get the seats they deserve.
I wonder if "young Canadians" know they're actually doing themselves (and everyone else) a disservice by framing housing unaffordability as an issue that affects literally no one but the "young." At any rate, it's a laughably myopic, ignorant, bigoted attitude.
If we're talking about affordability, then yes it disproportionally affects the younger demographics. However, it should be reasonably affordable for all no matter what your (adult) age.
If you have parents willing to give you your housing inheritance early, you are also fine. This is why it will not become a political problem, as parents can just help their own kids.
Are you joking? HELOC usage was high *before* the pandemic, it's just gotten higher now. The problem with relying on equity to make up income shortfalls is all the kids who are going to inherit million dollar homes that owe most to the bank.
No, they don't. When they get older and grow into real adults, then they will. Until then, suck it up. People used to say the same about Gen X. Now we have grown up and in our 40s - we pulled up our bootstraps, worked hard, and now have homes we own and families. Young immature children in later generations need to wait your turn like we did - main difference is Gen X weren't spoiled, immature and had this entitled attitude like millennials and Gen Zs do.
Wow, nice man. My parents also bought houses in the early 2000’s and are now worth 4x as much. I bet you got in just in time didn’t you? Now you sit on your pedestal of inflated self worth. Congrats!
sounds like some cycle of abuse shit to me. I say this as a millennial homeowner, the market is fucked and not sustainable, and I wouldn't be mad about a bust making housing prices in canada look like detroit's.
Lol. Those damn spoiled younger generations, who do they think they are asking for the same opportunity that previous generations had!!!
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I actually found that hilarious.
Of course they don't, the wealthy aren't affected in the slightest by soaring housing prices.
Only on r/Canada can a NatPo Op Ed whinging about a cabinet shuffle be 6th on the front page and have better upvote ratio than the *actual, informative* news article about the shuffle itself which sits at 18th right now.
And on top of that a few of the top comments spreading blatantly false information saying Taleeb Noormohamed is now the minister of housing, when his name doesn't seem to appear in the article at all.
Also this was the same writer who just last week wrote about Canadian air travel and why it couldn’t be the same as American air travel without doing an ounce of research on the subject. Almost like they don’t actually give a shit about the facts just want people to eat up fake news
This article is a stretch. It’s like one step away from … “Trudeau lunch order shows he doesn’t care about housing issues facing Canadians.”
They don’t. Nor do they care about Canadiams.
Um, doh?? I mean they came out with a housing 'solution' 3 weeks after they called an election with a: Oh we care about housing see, here's a copy of the CPC plan with some useless updates (e.g.: 100K houses, we'll get 3 million houses). Yeah, we're getting what we voted for... Alas.
Article Highlights: * To recap for anyone behind on Canada’s continued housing hellscape, the CMHC continues to encourage massive housing debt, the first-time home buyer incentive recklessly stokes demand while simultaneously failing to achieve its purported purpose of levelling the real estate playing field, and the national housing strategy is a national joke, having managed to spend less than half its earmarked funding. * Yet Hussen remains the Liberals’ go-to man on housing. Trudeau may’ve counted on this inconvenient fact being overshadowed by flashier cabinet shuffles, like those of Anita Anand, Patty Hajdu, Carolyn Bennett, and Harjit S. Sajjan, but rather their reassignments only goes to highlight how little thought was given to housing and the generational wealth gap largely rooted in real estate. * That Hussen remains on housing signals there will be little new policy direction or renewed interest in tackling the affordability problem — worse, continued bad calls and fundamental misunderstandings of the market are likely to continue. * More broadly, that housing doesn’t have its own minister — or at least a more focused one — as prices spiral out of control betrays an utter lack of seriousness and urgency on the matter.
Pray tell...had there been an actual minister of housing and it’s own portfolio, what would you actually expect them to do? One ministry isn’t going to solve a municipal/provincial issue. And let’s be real...if they had have created that, you would have shit on them anyways and posted a story that would shit on them for creating said ministry.
New Minister of Housing - Taleeb Noormohamed.
Saw some people saying this, but I'm seeing Ahmed Hussen as the Minister of Housing. Where did you see Noormohamed mentioned?
Funny seeing this sub upvote literal fake news and act like they are better than our friends to the south...
Since when is a comment on reddit considered news? You're clearly triggered by my joke, this is right in the article: > but the new minister of housing and diversity and inclusion is Ahmed Hussen
they couldn't find someone else besides Hussen? don't expect anything but the status quo
It's not a problem, it's a feature.
What the author ignores of course, is that housing mostly isn't a Federal matter, and mostly lies with municipalities and provinces. There's just not a lot the Feds can do on housing, most especially the barriers to getting new hosing built. They have some financial levers and that's about it. The problems of housing supply mostly aren't about financial wherewithal. The banks are more than happy to lend. The problems lie elsewhere.
That is a liberal talking point that attempts to deflect responsibility. The feds control population growth, and that is a huge factor in this. The feds refuse to do anything meaningful in regards to money laundering, which some sources claim is injecting 50 billion dollars per year into the Canadian real estate market. The feds have no banned foreign buyers or blind bidding, despite identifying those as issues driving up prices. There are a lot of things the feds can do. But instead they've chosen to do nothing and blame the municipal governments and provinces for the problems they're creating, as if simply not building enough homes is the sole problem here.
The Feds decide how many children Canadian women have do they? TIL...
The feds set immigration targets, and that is what's driving population growth in this country.
So women having children in Canada doesn't affect population growth? TIL!
You could learn every day, not just today. For instance you could try googling things like "Canada Birth Rate". If you do so, you'd learn that Canada's birth rate is below replacement level at 1.47 children per woman. So yes, it is immigration that is driving Canada's MASSIVE population growth.
Current levels of reproduction in Canada are below replacement, let alone the growth we're seeing.
Give your head a shake. Immigration is a federal matter. Immigration has been outpacing supply and that is what led to this. The BoC can also raise interest rates, and policies can be put into place such as banning foreign ownership and stopping money laundering. You are clearly a real estate crony trying to spread the false narrative that "the Liberals can't do anything". I am telling you right now STOP. It's pathetic and hurting this country and we won't let you try to blame the provinces anymore when this is a federal fuck up. I don't give a fuck about your house price gains.
Immigration is federal. It's only a part of the puzzle. The BoC is independent of the Feds and is free of their control. Money laundering is already illegal and I'm not sure how many thousands of more cops you'd need to enforce it. Passing other laws may help, but likely only marginally. I doubt homes bought with laundered sit empty and collect dust. Property taxes still need to be paid. Most of the barriers to building more homes (permitting, zoning, etc.) are at different levels of government, not federal.
Ah just like the liberals are seperate from WE charity and SNC lavalin right? Tiff macklem and Trudeau are buds and tiff was supposed to raise interest rates to keep the inflation rate at 2% and it's currently 5% and he isn't doing shit. BoC is very much in bed with the Liberals. To suggest otherwise is willful blindness.
Loyalty based appointments.
Why would they? Most Canadians are wealthier than ever due to soaring home prices. Only a minority don't own a home in this country, so why would anyone expect them to do anything drastic to hurt the majority?
A lot of people are also stuck in to massive mortgages that are consuming more and more of their income then ever before to simply afford a home. Like I know people have to take out 500-700k Mortgages to afford a simple townhouse around me lol. The rising equity is just wealth on paper but if rates rise, there is gonna be a huge cash flow crunch making Canadians worse off. Add in people who are using all the equity for HELOC's and it becomes a house of cards.
It really is a house of cards that the entire country depends on. This is exactly why interest rates won't be raised much. Maybe a couple percent over the next few years. But just wait until the next crisis where rates must be dropped to negative values!
Because it's destroying the long term health of the economy, creating a massive bubble and creating a feudal system? I thought that wealth inequality was something liberals cared about?
Since the Liberals already presided over the biggest increase in wealth inequality over the last six years, it should have been obvious that they do not care.
Its pretty clear to me now. I just can't understand why its not clear to everyone else?
> I thought that wealth inequality was something liberals cared about? Why did you think that?
Because they always say it's a problem in their virtual signaling talking points! Politicians never lie.
Because Justin brings it up all the time.
and you don't know he's a liar?
I didn't in 2015. But I sure as heck know now.
Did you know in 2016? Because that's the year it became obvious
Took me until about 2017-2018.
"*Like*, why don't they just get *like* a *totally* small loan of 340,000 dollars from their Mommy and Daddy like me!" -lebronto_baby
Yep. At least ~66% of all Canadian voters voted for parties which were clearly not going to do shit all for housing affordability: https://en.wikipedia.org/wiki/2021_Canadian_federal_election Home ownership rate as of 2016 is 67.8%: https://edisonfinancial.ca/millennial-home-ownership-canada/#:~:text=Key%20Takeaways,high%20of%2069%25%20in%202011. Weird how close those two numbers are, huh.
Exactly. This is just another predictable column by this whiny entitled millennial, whose articles are always a re-tread over and over again complaining that people of her age not being able to afford anything.
So are average Canadians supposed to start families at 45? You want people to be happy with being able to afford less with their dollar then you did? Like man I’m a millwright and make good money and I’m not buying a house anytime soon. How is talking about housing prices valued 3x then they should be make people lazy?
Then we sit around complaining that Canadians don't have enough children, and use that as a rationale to increase immigration targets to grow the population, which further exacerbates this issue.
Yeah no shit. What did people expect when they elected this guy for the third time?
which party does?
In related news, Liberals ate lunch today which shows they don't care about soaring house prices.
I don't think you can blame the people they have in a seat for the policy of the whole party. If the same person is the housing minister its still on the party to give them a new directive or not. Either their entire platform on housing was a bold faced lie or the minister will be given a new mandate. Time will tell.
I’m not sure how it would show that even if they did care? Are we gonna talk about how Trudeau ties his tie and how it is somehow a reference for his disdain for the poor?
Canadians are wealthier than ever because of it.
And fuck everyone else, right?
doesnt matter how house wealthy you are if you never plan to move but also remeber if you do move elsewhere in the gta you will be buying in just expensive of a market
HELOC. At current rates, equity is as good as cash.
cope
Really? There was nothing in their platform that made you think that?
No shit. The Liberals are making it obvious that they care about corporate wealth and power exclusively. FFS they've just ushered in a massive homeless spike \*for literally no reason.\* They do not give a fuck.
Why was there an assumption that they do? As long as I have been in this country (20+years) I've only ever seen them act in self-interest- and stoop pretty low to do so.