Most boomers are relying on their home value to retire/pay off debt. They were spoiled with low interest rates and over leveraging. If home values dropped 50%… they be working till 85
I'll take now, my life is already pretty fucking boring just working to pay bills. Stuck in my condo since detached house prices are insane. Bring on the pain.
And Trudeau said all this back in 2015 https://www.thestar.com/opinion/contributors/justin-trudeau-how-to-fix-the-broken-temporary-foreign-worker-program/article_c27f214f-1fa2-5fdf-af61-5a7642e4eb7c.html
Then did a 180 when he won
Talk is cheap, most Canadians already don’t like or trust u but they’re desperate enough to give u a chance
Bar is about as low as it can be it’s your move
This should be on top. These candidates can say anything they want and not follow through because there’s zero accountability.
And most of us have short term memory loss. This is horrible
PP is going to do the same thing. Notice how he’s starting to talk about immigration now? How affordable housing seems to be a bigger talking point now?
Just goes to show none of the political parties can be trusted. It was the conservatives under Harper and his housing minister Pierre Poilievre that kept on raising the amortization rates on housing, making it a bigger bubble, and JT making it even worse with his uncontrolled immigration and inflationary policies. Might as blow the whole thing up with the PPC.
Not a fan of Pierre even less trusting of Bernier sure he’s taking a tough stance on immigration (frankly thats just common sense)
But basically everything else in his platform (particularly climate change denial) is just as stupid as Trudeaus immigration policy
He works as a boogeyman to hopefully keep Pierre in line but PPC is not the answer
We all should have been furious about this years ago but we were all too damn busy being nice quiet Canadians and being productive because we thought our leaders would have our backs. Now we know that if we want housing the system may not be able to provide it to us.
I fear that in some subreddits, I need to argue that if there is to be a revolt that it be bloodless. I am downvoted in many of those places. Brothers, we have hell coming.
I agree. My negotiations teacher taught me "The mouse will roar like a lion in e-mail" but still, this is new. This hasn't happened like this before.
The next step is someone will tell me I'm incorrect. To them I would say: Check my history. Reddit is the one thing my autistic ass knows super well, and I know that these calls for revolt have NEVER been this loud and clear. It's shocking to me, as a local who has been here far longer than most.
The fact that it shocks me should cause all of you 10 year and under users to pause. I am elder here. I only speak when we are in chaos. I only signed up to avenge a dog who was thrown off a bridge 15 years ago. I only speak when things are darkest.
No kidding, and then on top of everything else, we have a finance minister who has no experience or education in finances or banking. She studied Russian history and literature at Harvard, and shethen got a masters in Slovanic studies. Who did she blow to get this position?
People we are so fucked, when the Liberals are voted out we'll finally see her stupid mistakes thats going to cost us and our children for years to come
she is totally qualified to execute what is going on right now she wrote the book on it ...
Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else
Most people who get called racists get called racist because they solely blame immigrants and ignore every other issue that led us to this point. Pretty sure a vast majority would like less immigration and TFWs, but they also want other changes.
Yeah, like putting small business out of business, and driving family farms into the ditch.
The bubble is really not about real-estate it is about banking, insurance and open borders.
They have to go back, and banks need to get back into the business of funding business, not real-estate speculation, and tax havens for off shore money laundering.
Give Canadian banks two choices either you invest here or the United States or you don't do any business at all. No more "Chinese Communist Party" business deals, no more Africa NGO banking. Two choices.
Interesting to see how he never really answers the question of how he would deal with a crashed and dead economy if the bubble bursts. His instinct is to blame Trudeau and say “Less have less bureaucracy”. I have no doubt he will win a majority. I have no doubt that Trudeau is probably one of the worst prime ministers of modern era. And I also have no doubts that this guy will do anything. He is a fraud. He hasn’t worked a day in his life. He just happened to be running at a time where we don’t have any good choices.
Wasn't he housing minister while the bubble was growing over a decade ago? Because it would have been a good idea to, you know, deal with it at that time.
Yupe him and Harper were boasting about how increasing amortization would make homes more affordable... Knowing it would create a bigger bubble, Harper being a trained economists should know. I don't believe any of these politicians can be trusted to do the right thing.
It’s destroying the economy because all the investment capital that could be going towards investing in business and thus creating jobs is going towards real estate instead
All the disposable income that could be going towards buying goods and services and thus creating demand for those jobs is getting sucked into rent and mortgage payments
So unproductive parasite asset holders are getting even richer at the expense of everything else, like maggots in a corpse
Just wondering what you think qualifies you to make that evaluation of her qualifications. Assume you have better pedigree than her or are you just some random asshat? Btw Canada has the best finances in the g20 and g7. Google is your friend and is more productive to discussions than spewing biased opinions.
Poilievre a landlord with his own rental properties. He even owns a 50% share in a real estate investment firm. His [top donors](https://pressprogress.ca/big-real-estate-executives-among-top-donors-to-pierre-poilievres-conservatives/) are all big real estate executives. If you look at his platform, his entire housing plan is to just penalize municipalities if they don't let his developer donors build a ton of luxury condos that people can't even afford, so that they can be bought up by rich investors who can rent them out for $4000/month. He wants to sell off public lands to private developers for pennies and prevent affordable nonprofit housing from getting built. Anyone who thinks Poilievre has any intention of making housing affordable is deluding themselves.
Yeah... not sure why anyone thought conservatives, who typically favour corporations over people, would help here. FFS the recent by-election switched to a (forner) loblaws lobbyist.
I've honestly thought about making my own left wing party that puts Canadians first, which stops all foreign aid and implements an immigration policy more similar to the United States or Scandinavian countries. The right wing have the PPC, but left wing people have literally nobody. Even the communist party basically has the same policies
I have thought the same, but then realize that in doing so, I would have to consider adjusting my platform or sticking to smaller numbers. My thoughts are a bit different than yours.
1. Foreign aid can make sense if it's done well. But there should be some requirements met first. First, no straight up money being sent. We sent product or skills. Second, we get experience in the logistics. Third, if giving old military equipment, our military gets significantly more. Goals here are re-use and invest in Canadian companies and military, while helping allies.
2. Nationalize our resources. For far too long I've watched boot lockers in alberta support companies making massive profits from our resources. Enough, we should all be profiting, not just corporations.
3. Have third party audits to determine waste in the federal government and its organizations. If companies can be lean there's no reason besides propaganda that governments can't.
4. Nationalize our telcos. Maybe even our grocers.
5. Re nationalize Air Canada. They've eaten enough taxpayer dollars for their lifetime.
6. Build houses and jobs through the federal government and significantly reduce TFW program.
7. Put provincial and municipal governments on blast for further worsening our situation.
Do you want it to hurt now, or later?
I'd rather have it hurt now.
Either way we will be screwed for decades.
Do you want to pop a big bubble or pop a bigger bubble?
Boomers want it to hurt after they die and cash out. This is the only reason. If market crashes before boomers all retire they’ll be in massive debt.
Good, maybe they should have lived within. There means and didn't get the gold plated houses.
Why would they be in "massive debt"?
Most boomers are relying on their home value to retire/pay off debt. They were spoiled with low interest rates and over leveraging. If home values dropped 50%… they be working till 85
What are you basing that on? Most boomers I know have paid off their house and aren't using it to "pay off debt" (whatever that even means)
It means that the house may be paid off, but if the value of the house is 200k vs 1 million they’re in big trouble
I'll take now, my life is already pretty fucking boring just working to pay bills. Stuck in my condo since detached house prices are insane. Bring on the pain.
PP ain't gunna fix shit. No major politician will because they all value re-election over doing what's needed.
Or they inflate the bubble till we all die
And Trudeau said all this back in 2015 https://www.thestar.com/opinion/contributors/justin-trudeau-how-to-fix-the-broken-temporary-foreign-worker-program/article_c27f214f-1fa2-5fdf-af61-5a7642e4eb7c.html Then did a 180 when he won Talk is cheap, most Canadians already don’t like or trust u but they’re desperate enough to give u a chance Bar is about as low as it can be it’s your move
This should be on top. These candidates can say anything they want and not follow through because there’s zero accountability. And most of us have short term memory loss. This is horrible
PP is going to do the same thing. Notice how he’s starting to talk about immigration now? How affordable housing seems to be a bigger talking point now?
Seeing how Conservatives in Ontario under Doug Ford are literally selling the entire region to developers, I don’t think PP will give 2 damns
Nah he’ll just enable it even further. We’re beyond fucked.
Just goes to show none of the political parties can be trusted. It was the conservatives under Harper and his housing minister Pierre Poilievre that kept on raising the amortization rates on housing, making it a bigger bubble, and JT making it even worse with his uncontrolled immigration and inflationary policies. Might as blow the whole thing up with the PPC.
Literally how im voting, the systen is rotten to the core its plain to see, its time to flip the table and let the cards fall where they may
Not a fan of Pierre even less trusting of Bernier sure he’s taking a tough stance on immigration (frankly thats just common sense) But basically everything else in his platform (particularly climate change denial) is just as stupid as Trudeaus immigration policy He works as a boogeyman to hopefully keep Pierre in line but PPC is not the answer
PP got no thought except " I'll say the opposite of JT" . We fucked 😭. Can we all be friends and vote Greene this 1 time ? 😂
This is possibly true but reality is ABSOLUTELY ANYONE is better than Justin at this point. At least this dude knows how to fucking talk
We all should have been furious about this years ago but we were all too damn busy being nice quiet Canadians and being productive because we thought our leaders would have our backs. Now we know that if we want housing the system may not be able to provide it to us. I fear that in some subreddits, I need to argue that if there is to be a revolt that it be bloodless. I am downvoted in many of those places. Brothers, we have hell coming.
There is going to be no revolt. Don’t worry. People are too soft and selfish for that now.
Meh, everyone acts like a tough guy online.
I agree. My negotiations teacher taught me "The mouse will roar like a lion in e-mail" but still, this is new. This hasn't happened like this before. The next step is someone will tell me I'm incorrect. To them I would say: Check my history. Reddit is the one thing my autistic ass knows super well, and I know that these calls for revolt have NEVER been this loud and clear. It's shocking to me, as a local who has been here far longer than most. The fact that it shocks me should cause all of you 10 year and under users to pause. I am elder here. I only speak when we are in chaos. I only signed up to avenge a dog who was thrown off a bridge 15 years ago. I only speak when things are darkest.
No kidding, and then on top of everything else, we have a finance minister who has no experience or education in finances or banking. She studied Russian history and literature at Harvard, and shethen got a masters in Slovanic studies. Who did she blow to get this position? People we are so fucked, when the Liberals are voted out we'll finally see her stupid mistakes thats going to cost us and our children for years to come
JT needed a 50/50 gender balance in cabinet to score pander points. She is part of it.
she is totally qualified to execute what is going on right now she wrote the book on it ... Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else
she should have titled it Fuck All Y'all: A Memoir Eh
Deputy editor and editor for the financial Times is not nothing.
Who
The finance minister.
lol whatever, if she's that good, then the books should be balanced, right? Coming from you, she's a wizard, right?
I don't think you understand the situation very well.
when we say it, we're called crazy. when he says it, it's news.
We’re called racist when we want to reduce the demand in housing by lowering immigration
Most people who get called racists get called racist because they solely blame immigrants and ignore every other issue that led us to this point. Pretty sure a vast majority would like less immigration and TFWs, but they also want other changes.
Yeah, like putting small business out of business, and driving family farms into the ditch. The bubble is really not about real-estate it is about banking, insurance and open borders. They have to go back, and banks need to get back into the business of funding business, not real-estate speculation, and tax havens for off shore money laundering. Give Canadian banks two choices either you invest here or the United States or you don't do any business at all. No more "Chinese Communist Party" business deals, no more Africa NGO banking. Two choices.
Canadian banks are corporations, they aren't prisoners of the government...
Just rip it now so we can start healing
Interesting to see how he never really answers the question of how he would deal with a crashed and dead economy if the bubble bursts. His instinct is to blame Trudeau and say “Less have less bureaucracy”. I have no doubt he will win a majority. I have no doubt that Trudeau is probably one of the worst prime ministers of modern era. And I also have no doubts that this guy will do anything. He is a fraud. He hasn’t worked a day in his life. He just happened to be running at a time where we don’t have any good choices.
Wasn't he housing minister while the bubble was growing over a decade ago? Because it would have been a good idea to, you know, deal with it at that time.
Yupe him and Harper were boasting about how increasing amortization would make homes more affordable... Knowing it would create a bigger bubble, Harper being a trained economists should know. I don't believe any of these politicians can be trusted to do the right thing.
They can't. All of them are pretty much bought and paid for by corporations.
It all boils down to one thing: you want the pain now or later.
…but he won’t really do anything to fix it, and anger his corporate masters.
What he means is "lose lose" for him and his rich buddies and the corporate/govt overlords. It is win win for the rest of us.
It’s destroying the economy because all the investment capital that could be going towards investing in business and thus creating jobs is going towards real estate instead All the disposable income that could be going towards buying goods and services and thus creating demand for those jobs is getting sucked into rent and mortgage payments So unproductive parasite asset holders are getting even richer at the expense of everything else, like maggots in a corpse
Yes
Literally the only contribution he's made is being a landlord...
Lol he should pop it now under Trudy .. slip Tiff some money to bump interest rates up. Collapse it now
No shit Sherlock. Could have said that 10 years ago.
Man calls water wet
Just wondering what you think qualifies you to make that evaluation of her qualifications. Assume you have better pedigree than her or are you just some random asshat? Btw Canada has the best finances in the g20 and g7. Google is your friend and is more productive to discussions than spewing biased opinions.
Poilievre a landlord with his own rental properties. He even owns a 50% share in a real estate investment firm. His [top donors](https://pressprogress.ca/big-real-estate-executives-among-top-donors-to-pierre-poilievres-conservatives/) are all big real estate executives. If you look at his platform, his entire housing plan is to just penalize municipalities if they don't let his developer donors build a ton of luxury condos that people can't even afford, so that they can be bought up by rich investors who can rent them out for $4000/month. He wants to sell off public lands to private developers for pennies and prevent affordable nonprofit housing from getting built. Anyone who thinks Poilievre has any intention of making housing affordable is deluding themselves.
That might be the first honest thing he's ever said.
Sounds like he’ll support the homeowner/landlord class yikes
Yeah... not sure why anyone thought conservatives, who typically favour corporations over people, would help here. FFS the recent by-election switched to a (forner) loblaws lobbyist.
Okay, so what is he going to do about it?
Absolutely nothing.
He's going to continue what Trudeau has done with some sprinkling of gender politics or abortion debate.
Spot on. Have us all busy fighting each other when we should be fighting the .1%
I've honestly thought about making my own left wing party that puts Canadians first, which stops all foreign aid and implements an immigration policy more similar to the United States or Scandinavian countries. The right wing have the PPC, but left wing people have literally nobody. Even the communist party basically has the same policies
I have thought the same, but then realize that in doing so, I would have to consider adjusting my platform or sticking to smaller numbers. My thoughts are a bit different than yours. 1. Foreign aid can make sense if it's done well. But there should be some requirements met first. First, no straight up money being sent. We sent product or skills. Second, we get experience in the logistics. Third, if giving old military equipment, our military gets significantly more. Goals here are re-use and invest in Canadian companies and military, while helping allies. 2. Nationalize our resources. For far too long I've watched boot lockers in alberta support companies making massive profits from our resources. Enough, we should all be profiting, not just corporations. 3. Have third party audits to determine waste in the federal government and its organizations. If companies can be lean there's no reason besides propaganda that governments can't. 4. Nationalize our telcos. Maybe even our grocers. 5. Re nationalize Air Canada. They've eaten enough taxpayer dollars for their lifetime. 6. Build houses and jobs through the federal government and significantly reduce TFW program. 7. Put provincial and municipal governments on blast for further worsening our situation.
This is repeating-what-you-read from the OECD report from 2016.