ABNuck Posted August 19, 2021 Share Posted August 19, 2021 Interesting that this has "finally" become an issue..."look Pierre, the horses have all escaped, we should close the barn doors now!" I feel incredibly sad for anyone who has never been in the house market right now...it's tough to jump into these days. The rules are written in such a way that you are forced to talk to a monopolized industry. When the rules are so tight (mortgage, builder, insurance, code enforcement) it forces people to only be able to deal with certain vendors, creating a profit driven pricing bubble. Where I live for example, the city will only sell a few lots to the citizens, the rest go to the developers. IF you happen to get a lot, it's VERY expensive to buy from the city and the banks won't lend you the money to build your own house, you MUST go through a builder. So they've got you by the short and curlies no matter which way you turn. If you have your own finances in place to build, then no sub trades want to work with you because they get most of their work from the big builders. If they do work with you, then the price is so far inflated that you may as well just hire a builder. If this was any other industry, the government would step in to help stop the profiteering. But in this case, the government writes the rules and the big banks and builders just profit from it. If people start to make more money in a particular area (ie/ natural resources are discovered or whatever the case may be), the house prices just go up. Nobody actually has any more pocket money because the R/E agents just take it from you. And if the mortgage terms were to go back to 30+ year mortgages (in an attempt to lower monthly ownership costs) then the interest rates and house prices just go up...you'll just end up worse off in the end. Not 100% sure what the answer is, but if there were more alternatives to home ownership (allow and help people to build their own homes...to code of course) then that might release the stranglehold (mafia style stranglehold) that the developers and builders have on the industry...it might help some folks. Until then, we languish on... 2 Link to comment Share on other sites More sharing options...
Alflives Posted August 19, 2021 Share Posted August 19, 2021 With 2000/month guaranteed income people can buy houses in lots of markets all over Canada. Three or four people get together, and that’s 6,000-8,000/month. They can live in some nice town, that’s inexpensive, and have very comfortable lives. No jobs there; it doesn’t matter. No more housing crisis. 2 1 Link to comment Share on other sites More sharing options...
Dazzle Posted August 19, 2021 Share Posted August 19, 2021 3 minutes ago, Alflives said: With 2000/month guaranteed income people can buy houses in lots of markets all over Canada. Three or four people get together, and that’s 6,000-8,000/month. They can live in some nice town, that’s inexpensive, and have very comfortable lives. No jobs there; it doesn’t matter. No more housing crisis. Where's the money coming from? Taxes? And no jobs while paying for a house, which I assume has little to no downpayment on? This is nuts. Link to comment Share on other sites More sharing options...
BoKnows Posted August 19, 2021 Share Posted August 19, 2021 33 minutes ago, Dazzle said: Where's the money coming from? Taxes? And no jobs while paying for a house, which I assume has little to no downpayment on? This is nuts. Yeah but it'd eliminate many other social services to take their places. 1 Link to comment Share on other sites More sharing options...
Coconuts Posted August 19, 2021 Share Posted August 19, 2021 It's been an issue for years, particularly in BC. But I don't expect anything more than lip service and empty promises. The rental and buying markets are nuts, at 31 I don't know if I'll ever own a home. Renting often costs more than a mortgage, but the market is absolutely insane and out of reach for a lot of folks. Housing is essential, but unfortunately it seems out of reach for a lot of folks. A lot of folks in my age bracket have actually had to move back home, multigenerational households are becoming more common. 2 Link to comment Share on other sites More sharing options...
taxi Posted August 19, 2021 Share Posted August 19, 2021 44 minutes ago, Alflives said: With 2000/month guaranteed income people can buy houses in lots of markets all over Canada. Three or four people get together, and that’s 6,000-8,000/month. They can live in some nice town, that’s inexpensive, and have very comfortable lives. No jobs there; it doesn’t matter. No more housing crisis. Printing more money, isn't going to create more houses, only drive the prices further up. 1 Link to comment Share on other sites More sharing options...
Alflives Posted August 19, 2021 Share Posted August 19, 2021 5 minutes ago, taxi said: Printing more money, isn't going to create more houses, only drive the prices further up. Lots of available housing in smaller communities around Canada. People can move to those places. They don’t need a job, because the government will pay 2000/month guaranteed. A young guy and girl (not married) can get 4000/month together. They would live a very comfortable life in small town Canada. Plus, they never have to work, so there is no need for jobs where they settle down. No need to stay in expensive places. 1 Link to comment Share on other sites More sharing options...
oldnews Posted August 19, 2021 Share Posted August 19, 2021 Link to comment Share on other sites More sharing options...
Gurn Posted August 19, 2021 Share Posted August 19, 2021 10 minutes ago, oldnews said: No room for my stereo, and records, but other than that, looks good. Wonder how much the auto insurance and fuel would be in a year? Link to comment Share on other sites More sharing options...
Dazzle Posted August 19, 2021 Share Posted August 19, 2021 34 minutes ago, Alflives said: Lots of available housing in smaller communities around Canada. People can move to those places. They don’t need a job, because the government will pay 2000/month guaranteed. A young guy and girl (not married) can get 4000/month together. They would live a very comfortable life in small town Canada. Plus, they never have to work, so there is no need for jobs where they settle down. No need to stay in expensive places. Where is this money coming from? You have no basic grasp of economics. Link to comment Share on other sites More sharing options...
c00kies Posted August 19, 2021 Share Posted August 19, 2021 45 minutes ago, Coconuts said: It's been an issue for years, particularly in BC. But I don't expect anything more than lip service and empty promises. The rental and buying markets are nuts, at 31 I don't know if I'll ever own a home. Renting often costs more than a mortgage, but the market is absolutely insane and out of reach for a lot of folks. Housing is essential, but unfortunately it seems out of reach for a lot of folks. A lot of folks in my age bracket have actually had to move back home, multigenerational households are becoming more common. I'm in Winnipeg and my plan was to save up (by staying at home) to buy a house. However, the housing market went so screwy that I have no way of buying a house by myself. Since I'm likely going to have to get an apartment (and split one at that), I've expanded my job opportunities to out of the province, since I'm going to have to split an apartment anyway, then hopefully circle back when the market settles down. Link to comment Share on other sites More sharing options...
Dixon Ward Posted August 19, 2021 Share Posted August 19, 2021 What if the richest people in the country build and own 1 million rental units across the country. They would pay no property taxes. They would pay no capital gains on the increased value of the land. They would write off all of the costs against their income taxes. They would collect no rent. The government would decide who would receive the units. Every year they would build another 250,000 units and after 5 years they could start charging rent or sell them to someone who could. I'm not sure this would work exactly as I have laid it out, but with billionaires and homeless in the same country, there has to be a way that both could win. People with mental health issues, addiction, and unemployment need a home. This would help solve many other societal issues as well. But what do I know? Link to comment Share on other sites More sharing options...
Tortorella's Rant Posted August 19, 2021 Share Posted August 19, 2021 53 minutes ago, Coconuts said: It's been an issue for years, particularly in BC. But I don't expect anything more than lip service and empty promises. The rental and buying markets are nuts, at 31 I don't know if I'll ever own a home. Renting often costs more than a mortgage, but the market is absolutely insane and out of reach for a lot of folks. Housing is essential, but unfortunately it seems out of reach for a lot of folks. A lot of folks in my age bracket have actually had to move back home, multigenerational households are becoming more common. Multigeneration households are the way to go. Our EI friends have done it correctly. I'm the same as you but I'm at home saving up so much of my salary, far more than people who own a home. When I do get to own a home, I will have so much money generating interest in my retirement accounts that I think I'm in a fairly solid position right now and when there is the ultimate crash, I can finally swoop in. Link to comment Share on other sites More sharing options...
Alflives Posted August 19, 2021 Share Posted August 19, 2021 8 minutes ago, Dazzle said: Where is this money coming from? You have no basic grasp of economics. Guaranteed Income is coming. Where the money comes from is discussed in this thread: Liberals win minority government Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 19, 2021 Share Posted August 19, 2021 13 minutes ago, Dazzle said: Where is this money coming from? You have no basic grasp of economics. Alfie has his own printing press in his basement. Brought it from his homeland. He'll print out billions in new CDN currency. Inflation might his 1000% but I guess that is a problem for the next generation... 2 Link to comment Share on other sites More sharing options...
Elias Pettersson Posted August 19, 2021 Share Posted August 19, 2021 10 minutes ago, Dixon Ward said: What if the richest people in the country build and own 1 million rental units across the country. They would pay no property taxes. They would pay no capital gains on the increased value of the land. They would write off all of the costs against their income taxes. They would collect no rent. The government would decide who would receive the units. Every year they would build another 250,000 units and after 5 years they could start charging rent or sell them to someone who could. I'm not sure this would work exactly as I have laid it out, but with billionaires and homeless in the same country, there has to be a way that both could win. People with mental health issues, addiction, and unemployment need a home. This would help solve many other societal issues as well. But what do I know? Developers don't make money off of low income affordable housing. They would rather buy their own land, build their own multi million dollar skyscrapers and sell the units to whoever can afford them... 1 Link to comment Share on other sites More sharing options...
BoKnows Posted August 19, 2021 Share Posted August 19, 2021 1 hour ago, Coconuts said: It's been an issue for years, particularly in BC. But I don't expect anything more than lip service and empty promises. The rental and buying markets are nuts, at 31 I don't know if I'll ever own a home. Renting often costs more than a mortgage, but the market is absolutely insane and out of reach for a lot of folks. Housing is essential, but unfortunately it seems out of reach for a lot of folks. A lot of folks in my age bracket have actually had to move back home, multigenerational households are becoming more common. I feel that same way. Going to be graduating next year and looking to start my career. I'd love to move to Toronto, but I'm not sure an entry level job can cover the cost of rent in Toronto. Link to comment Share on other sites More sharing options...
bishopshodan Posted August 19, 2021 Share Posted August 19, 2021 7 minutes ago, Alflives said: Guaranteed Income is coming. Where the money comes from is discussed in this thread: Liberals win minority government You're making my laugh quite a bit. I know you where clarifying just what UBI was....like yesterday? and now you're getting people's knickers in a twist chatting about it in here. I see your reverse psychology! As for housing, I don't see anything changing at all. Are any of the party platforms talking about the increased immigration that is needed to help grow the economy? 2 1 Link to comment Share on other sites More sharing options...
Dixon Ward Posted August 19, 2021 Share Posted August 19, 2021 1 minute ago, Elias Pettersson said: Developers don't make money off of low income affordable housing. They would rather buy their own land, build their own multi million dollar skyscrapers and sell the units to whoever can afford them... I'm not talking about developers. I am saying that the government work out a deal with the richest of the rich, who BTW avoid taxes all the time, and get them to pitch in and solve the problem in a way that benefits everyone. Bill Gates and Warren Buffet have given away 100 billion plus. Canadian Billionaires could solve this problem. Link to comment Share on other sites More sharing options...
Dazzle Posted August 19, 2021 Share Posted August 19, 2021 16 minutes ago, Dixon Ward said: What if the richest people in the country build and own 1 million rental units across the country. They would pay no property taxes. They would pay no capital gains on the increased value of the land. They would write off all of the costs against their income taxes. They would collect no rent. The government would decide who would receive the units. Every year they would build another 250,000 units and after 5 years they could start charging rent or sell them to someone who could. I'm not sure this would work exactly as I have laid it out, but with billionaires and homeless in the same country, there has to be a way that both could win. People with mental health issues, addiction, and unemployment need a home. This would help solve many other societal issues as well. But what do I know? Who pays for the maintenance of the buildings? 1 Link to comment Share on other sites More sharing options...
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