> The government doesn't want to do anything
Looks like the voters dont want to do anything either, if they keep re-electing the same party/politicians.
Looks like the voters dont want to do anything either, if they keep re-electing the same party/politicians.
As a society, we need to acknowledge how zero interest rates were directly responsible for the housing bubble. The people that caused that should be shamed publicly.
"The bridge from Rinkeby makes it easier for criminals to recruit your children into crime," the party told local voters during last year’s campaign.
Speaking of taxing home sales, before 1997 any profit was considered capital gains. After the "taxpayer relief act" in 1997, the first $250k was exempted ($500k if married). So that was like a big flag saying "go forth and make money flipping houses". Side effect in our timeline is the creation of infinite home flipper content for YouTube. Similar signals with zero interest rates. "Buy a house now, no matter what it costs, for tomorrow it will cost more. Oh, maybe buy some guns too while you're at it, the end times are near".
If you make $200k a year, you've got almost 3x the average household income in canada ($75k). You're way up there in terms of wealth, and don't need any help from the NDP or anyone else.
It's so far out the norm of normal income that anyone earning $200k in canada and complaining about the housing situation isn't in touch with what normal people in canada are experiencing and their complaints are ridiculous.
It's like a CEO yelling that you don't know how much they're paying in capital gains tax. It really isn't relevant.
After taxes, high COL, sky-high rent, and retirement savings there's maybe a deposit in there.
You're out to lunch and out of touch.
Thanks the advice. I'll start purchasing property impractically far from my work. Good idea
Businesses underpay and when they can't find people willing to impoverish themselves to work for them, they apply to the government to bring in "temporary foreign workers" - for things like fast food restaurant workers not essential business, keeping the wages down.
Temporary foreign workers and international students in canada are allowed to buy housing, so aside from renting the rich ones who make it here actually buy up properties for their family offshore.
Even if Canadians vote out Trudeau, Poilievre of the conservatives has no interest in slowing down immigration or affecting policies to improve access to housing. The leader of the NDP, Singh, is useless and his party is also very pro immigration and has no housing policies that would affect the market.
What we're seeing is a death spiral of some kind but I'm not sure where the ultimate end goes - no doctors, no housing, low wages compared to housing and food costs, etc. This is textbook conditions for serious blowback and social instability.
When asked why there wasn't anything in this years announced budget to deal with the housing crisis Christina Freedland says that they're still spending money from last year's budget on it. Well how about you see the fruits of your labours and realize it isn't working out well for Canadians, and do something else/more?
If we don't manage to vote trudeau out this time around I'm going to look into immigrating to texas. People joke about that but texas recognizes my professional licensing and all I'd need is a job offer.
Now it seems everything needs to be ready before having children: big house, big car, career.
> Temporary foreign workers and international students in canada are allowed to buy housing, so aside from renting the rich ones who make it here actually buy up properties for their family offshore.
If they're being paid so little, I don't see how they could possibly afford to buy any properties. I've only known a few, but they all send the majority of the money back home instead.
This feels very fear mongering on TFWs and not grounded in facts.
I'm doubtful that it's TFW that are buying the properties you're concerned with, especially since they're still at the mercy of PR/work authorization laws that could make them leave the country at any time.
It _could_ happen, but that would be pretty exceptional. You want to complain about foreigners making house prices too high for you, you do you. Just be accurate in your complaints.
international students do purchase houses for their families out of country - it happens more in some areas than others.
And if someone couldn't get in as a student, they might try to get in as a TFW and spend their family money on a home - I don't know how often it happens but its allowed because TFWs DO buy houses.
Also, what support do you have for the claim that the existence of temporary foreign workers suppress wages for working Canadians? My understanding is that they are performing jobs that Canadians just won’t do and thus, their presence shouldn’t affect Canadian working wages (or so the theory goes).
Their presence suppresses the wages because there's a basically unlimited pool of people willing to work for suppressed wages. All businesses have to do is not raise wages and the prevailing wage is whatever they offer. Almost every tim hortons, mcdonalds, burger king, etc in canada is staffed with TFW. I'd rather they raise the wages or go out of business. Instead they import workers and keep wages suppressed.
I’ll tell you what would happen - People would lose their minds.
So… it’s complicated (at least in that industry). I’m not as convinced about the need for them in tech and restaurants because, as you say, they should probably just pay more and Canadians would do those jobs. But the numbers I saw don’t seem that significant so I’m not so sure.
Unemployment is also at the lowest it’s been in ~50 years so.. where would those new Canadian workers come from anyways?
There are no simple answers. That’s why I’d like to see what economists are saying. I know that with regular immigration, there’s a consensus among many economists that we need them so our economy doesn’t actually shrink due to low birth rates.
What?
Drug lords and warlords are allowed to buy real estate in the west through shell companies registered in tax heavens. It's the same companies that do 'tax optimisation' for our billionaires.
The head of Wagner Prigozhin has passed money laundering check in London while he was under sanctions and wanted by the FBI, he submitted his mother's gas bill.
https://www.ft.com/content/3e1b5bc5-090c-434d-84e4-ca2b120cf...