Imagine trying to build them when a lot of land costs a million dollars and the house costs 300k; due to greenbelt that never used to exist, zoning that was a lot less regressive, and developer taxes were a tiny fraction what they are now.
We need to either lower the barriers or we need to stop the outrageous growth, as the missing middle podcast always says.
Sure we flooded the economy with cheap labor to depress wages, and we are buying half of all mortgage bonds to balloon home values and further indebt Canadians with full recourse loans, but heres a small handful of rentals, so we do care!
Though Carney is even more conservative than Pierre. His first act was gutting the carbon tax and the generational fairness capital gain taxes, his second act was promoting a housing minister that specifically says housing is an investment.
If the NDP wasn't co-opted by the Mazerati in a Rolex we may have had a shot at someone good, but alas.
China does devalue their dollar to prop up their production. Though we arguably do the same by buying mortgage bonds and discounting home values in the CPI to keep our money loose.
Because companies don't secure their systems. Its like they are leaving out unguarded cash registers and are telling people not to touch it as their main method of security.
Say we overhauled our firefighting and massively expanded controlled burns would that help, or would it just draw out the smoke inhilation at lower levels?
We need to rename all these streets and replace statues due to past transgression. But the monarch that pushed colonialization all over the world gets a pass due to fun crowns and funny accents.
Pierre would have won if Trump didn't tilt the scales, because we have had the second to last performance on a per capita basis in the OECD since 2015, arguably the Liberals have been a blight on Canada.
You can say you like Carney as an obviously smart guy, but the rest of the party is not something to be celebrated, Freeland is already back to not answering a single question to Vassy.
The financialization of housing is just monetary policy. The Bank of Canada gutting rates and doing QE is meant to entice people to sell their homes, and prices rise until people do it, in which case a mortgage is created as new cash in the economy and the house is securitized as a loan.
This then feeds into aggregate demand, to attempt to derive a 2% inflation target using an index that contains subjective hedonic adjustments to lower the value of goods, substitutions so as consumers buy cheaper food the CPI changes. The CPI also excludes housing appreciation but includes mortgage interest, so the Bank of Canada can print money to buy half of all mortgage bonds to raise home values, while effectively lowering inflation and depressing interest rates to further inflate home values.
To be fair I think she clearly meant in the OECD, where we are second to last behind Luxembourg in GDP per capita growth, falling well short of inflation.
Meanwhile we are capping ourselves to lower our own standard of living and not even fighting climate change to do so, as we perform mass immigration to hide falling productive growth.
This then largely falls on the poor whose rents doubled and who are overwhelming the food banks. The rich already own a home and they invest outside of Canada, which Caroline Rogers has then increasingly warned about our diminishing investment into Canada.
Neo liberalism meaning free market solutions to problems?
Our loose monetary policy distorts lending and debases our salary, with the Federal government now literally buying half of all mortgage bonds. Housing can't be built due to sprawled zoning, huge developer taxes, and massive greenbelt. We have supply side economics so a decent cheese is 20$ a loaf.
Give me one area where Canada is a neo liberal hellscape like this article let's on. I'd argue we have the reverse, and Carneys free trade within Canada plan is barely scratching the surface of the problems we need to fix with government intervention.
We've even got a new housing minister that says housing prices shouldn't come down because its now an investment vehicle, after Trudeau essentially said the same thing, then you have to wonder why the poor are so much worse off.
The pain we feel is from decades of loose monetary policy, rising interest rates due to aging demographics, and a federal government intent on hiding falling GDP via mass immigration. Mass immigration to forcefully invert the phillips curve after vast monetary stimulus, while we remain second to last place in per capita GDP growth in the 38 countries of the OECD, and Caroline Rogers warns of crisis level productivity growth which is diminishing wage growth.
There are people living in rest stops due to the mass amount of people we brought in to depress salaries, who is in favor of destroying the poor with more people?
Its not price gouging, its excess money supply, because the Covid stimulus was entirely funded by the Bank of Canada, who ignored their inflation mandate during Covid. Heres a graph from the Boc outlining the inflation in 2021, which hits us with a lag as the money flows through the economy.
The phillips curve depicts the relationship between inflation and wage pressure, higher inflation means more wage power, and wage gains. But during the inflation Canada did mass immigration, to force down wage pressure. So everyone is now poorer on a per capita basis than they were prior to mass immigration, that is why families dont have any money. Canada has also had the second to last worst per capita GDP performance out of the 38 countries of the OECD, we beat only Luxembourg, so people are poorer.
He's already largely made his plans known has he not?
We will get a 10% tariff unless we remove all our own internal trade barriers.