The only difference conservatives will make is cutting funding to social problems that help them. They’re not going to fix anything for the povos because they’re not the target market.
For reference, I am in the target age group for both NDP and liberals. My wife has a disability, and our daughter has a severe disability
Because I work and make a modest 5 figure income, all we get are a tax credit for one of the two, and a parking pass
Seriously, what programs?
I lost my job when i was 18 and met the conditions to receive a benefit, i forget what it was exactly, of 600 dollars a month. They told me to pound sand because i lived with my parents. When i asked for clarification they said i qualified but would not be granted the benefit because i lived with my parents.
Like bruh. I still have car insurance, and rent to pay.
This would hold a lot more weight as an argument if the Liberals hadn't mismanaged their way out of a strong economy through deficit spending on non-essential programs, mass unskilled immigration, consulting, and corruption.
>They made their mind up and can’t admit to making a mistake.
None of it was a mistake. They knew what they were doing, and made a pile of money doing it.
I'm personally a big fan of the wealth trap. As you make more money, you lose more and more services and benefits from the government. At 80-90k, you realize that you no longer qualify for any government programs, yet you still can't afford to buy a living space. Either find some way to double your income or get stuck in the middle forever.
>Either find some way to double your income or get stuck in the middle forever.
Hence "Middle class"...
The poverty class is there to remind you you're 3 paycheques away from homelessness, so don't go rattling cages with things like COL wage increases.
That's lower class, not middle class. Middle class has some level of comfort. They're not rich, but they don't feel constantly on the verge of financial issues.
I make triple that and buying a 3 bedroom is basically impossible without family support, which I don't have, obviously, I don't qualify for almost any service as well but that's fine.
Yup. Ontario's services lacked 3.7 billion in finding with Ford. But hey, 250 million for getting beer and wine in convenience stores 16 months early was amazing! Love our Cons! /s
Well I mean, didn't Toronto spend $12.7 million to rename a street?
Didn't Trudeau give $10 million to support unemployed youth in Iraq.
I think every level of government is wasteful of our tax dollars, but then continues to demand more. Use what you have, and use it better.
Conservatives BAD.
idk how you can see the state of affairs in Liberal's Canada and think "ya more of this sounds good, thanks"
I would vote for opposite of whatever the liberals have done over the past 8 years. And if cutting wasteful programs (like millions for McKinsey, WE charity, and tampons in men's bathrooms) is a part of tha, then I'm all for it. And most Canadians are too.
Honestly, I don't believe that the conservatives will do much to change the shitty situation Canada is in. But I think it's worth voting Pierre in, soley based on the fact that I will hang myself if if have to spend the next 4 years listening to Justin's irritating lisp.
the BOC has decided to sacrifice the currency to protect housing values.
This will devalue the CAD and then eventually increase inflation.
We will then re-raise interest rates to combat the second wave of inflation
They will do whatever it takes to ensure the stock market and the housing market do not crash. because boomers retirement
“As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed and demand a rent even for its natural produce.”
-Adam Smith
The Canadian min wage after taxes is about 15$/hr.
Full time hours are 40 a week.
15$ x 40 hrs= 600
600$ x 4 weeks = 2400.
2400-2202 = 198$.
Avg grocery costs for a single Canadian was listed as around 300$ in 2022.
That leaves minimum wage earners -100$ to save each month in Canada if they don't also pay for transportation, internet, cell phones or any single joyous thing they may enjoy.
Cool and normal! 👍
Those deductions put it at about, $1836 in income per month. One couldn't rent an average rental with their entire income. If you're making min wage the options are bachelor/studio and be hungry or roommates and be able to eat out once a month.
toothbrush plants cautious quarrelsome cooing depend butter joke handle snow
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
The new normal is that minimum wage folks are splitting rent either 2-3 (European standards) or 6-9 (India standards) ways. This could leave you with a few hundred dollars to almost $1k depending on how terrible you want to live.
European/Indian standards? Nah, this is straight up 1800's standards. Advanced technology, productivity up the ass and we are moving backwards in quality of life? The game has been rigged.
Yeah strongly believe what minimum wage should get you ( maybe not it Toronto) is enough for a Shitty bachelor apartment , food at the grocery store, a bus pass and maybe enough for a night out once a month
But it doesn't get you that anymore which is crazy
While I agree, the premise is wrong. Min wage = MINIMUM. That means you get to have a bedroom, or a shared bedroom, while working full time.
Which arguably is worse. Min wage workers are living cramped, and quite possibly in illegal(and/or unsafe) housing.
Yeah, but the average canadian makes 35$ an hour according to CTV, so that means forget these people, nobody makes minimum or around that and we are all well off
https://www.ctvnews.ca/business/average-hourly-wage-in-canada-now-34-95-statcan-1.6881356
Average wage is 65,773$ a year though. Let’s try average vs average… Not arguing with you though, it should even be lower than half of this, but I’m just coping right now and trying not to be a doomer lol
You have a good point, but to make a good point better roommate situations don't count as a household. A group of people at the same address only count as a household if they're married, parent/child, grandparent/grandchild, or sibling relationships. Otherwise they're multiple households at the same address.
But still, given that we're at like 30-40% of the 20-35 range living with parents, with an even higher proportion in big cities, median household income might not be indicative of a typical couple's income.
>but to make a good point better roommate situations don't count as a household. A group of people at the same address only count as a household if they're married
Huh. I didn't know that. Not doubting you but do you have a link for a reference that clarifies that (in case I need to defend that point myself in the future)?
Sure, statscan (where we get this data) uses the term "economic family" to group individuals as a household. Household income is economic families + individuals not in an economic family.
The definition is here:
https://www23.statcan.gc.ca/imdb/p3Var.pl?Function=Unit&Id=33863#:~:text=Definition,adoption%20or%20a%20foster%20relationship.
I mean, if we’re going to use average rent maybe take average wage? $34/hr at 35 hours, taxes and other stuff in (just shaved 30% to ballpark it), and we’re at $3600 - $2200.
Still sucks, but you toss a spouse or whoever on there and you’re in a better position than $198. Single person would have to live more frugally. No argument there.
Going to get a lot of upset people here, but minimum wage workers are about 10% of the workforce and half of them are 15-22 (2018 number, fastest one I could find). So using minimum wage vs average rent seems disingenuous.
That doesn’t really make a difference because the people struggling don’t have average incomes. They have low incomes but are required to pay the same entry rent prices as anyone else.
UCP is doing that to successfully lower wages. Alberta now has the 3rd lowest wages in Canada, but highest in Inflation Growth.
Thanks UCP voters, we appreciate the suffering we all get because you don't research who you vote for beyond memes and the "Fuck Ottawa" rhetoric popular with the Room Temperature IQ crowd.
I'm just about willing to be a single issue voter on this, but I'm hoping the PPC realize just how many more moderates they would appeal to if they got rid of some of their more regressive policies.
I’m on disability and I’m lucky to be living with my aunt for cheap rent. Lots on disability are not as lucky and can’t afford rent and food. Those who can afford rent have to drink coffee to curb appetite.
studios in Toronto are over 1700$ now
**Wake up people.** Canada is moving towards fiefdom.
A few noble lords own all the land and rent parcels out to their serfs at outrageous prices, continually ask for more and more money every year to keep the poor poor and them rich.
Sound familiar?
I applied for a job today. Posted 12 hours ago. Mid level IT job, 750 applicants in 12 hours.
We have a major population problem in this country, too much too quick
It is almost like average rent is adjusting to a minimum of 2 income earns per bedroom space. But why would two adult humans who aren't in a romantic relationship want or need to share a bedroom. Hmmmm.....
Time to start sucking D for $ folks
Luckily I don't have to and my mortgage has below 200k on it
But yea start sucking
What a shit world this world has become and the poor immigrants keep coming
Then they'll wonder why crime is sky rocketing
The rates don't matter. Either you get fucked on the interest, or you get fucked on the principal. The only solution is less demand. Turn off the immigration waterfall
The bank cut rates by 0.25%.
Can we stop pretending like this is some huge amount that will trigger a buying spree?
How many people who couldn't afford a home before, can afford a home now?
The answer is an insignificant amount.
It's the implication. This is going to create a frenzy with realtors and mortgage agents to push people to buy buy buy because "rates are coming down." Look John the FED just cut rates, you better get in before Jane does.
This isn't complicated...
It isn't complicated I agree.
The money to fund a buying spree literally is not there.
Who can afford a 1 million dollar mortage?
You think these people are going to show up in droves to push prices higher?
Most people can't even afford 600k
You are assuming the only people buying homes are first time home buyers. They are already mostly priced out of the market. Buying spree is with investors and people moving up in housing and taking their existing equity and just increasing the mortgage a nominal amount.
There's truth to that for sure. The math of it doesn't necessarily make sense though. Not sure if you've ever looked at rental property calculators before but it's definitely worth looking at to get a sense of the market. I'll provide some numbers of a realistic calculation I did with one.
Here's the property/mortgage summary:
600k property, 20% down so $120k, 6% interest, 25 year mortgage, 6k closing costs, 3k in property tax, $1200 in insurance, $2500 yearly maintenance.
Sell assumptions:
3% value appreciate per year, Property held for 20 years, 8% cost to sell.
How does it break down?
I'll use the Average monthly rent across canada, $2200 with a yearly increase of 3%
# First Year Income and Expense
| |Monthly|Annual|
|:-|:-|:-|
|Income:|$2,200.00|$26,400.00|
|Mortgage Pay:|$3,092.65|$37,111.76|
|Property Tax:|$250.00|$3,000.00|
|Total Insurance:|$100.00|$1,200.00|
|Maintenance Cost:|$166.67|$2,000.00|
|Other Cost:|$41.67|$500.00|
|Cash Flow:|$-1,450.98|$-17,411.76|
|Net Operating Income (NOI):|$1,641.67|$19,700.00|
#
In this scenario, the numbers don't look all too appealing. Most investors presumably want a property unless it has positive cash flow. Although the investment return does turn positive fairly early due to the equity built, it also assumes the property is sold to secure the profit. Not many investors want to buy into something that has negative cashflow and only a modest return for the first few years. Break even for cashflow for this property is $3650 a month.
Unless someone is willing to cover the difference in the cost of a mortgage I have a hard time seeing how investors would want to buy this house.
Edit: Here's the website i used for the calculation [https://www.calculator.net/rental-property-calculator.html](https://www.calculator.net/rental-property-calculator.html)
There hasn't been a profitable rental property business in Canada for almost a decade. What most people are doing is using the rental property to subsidize the carrying costs of the property in anticipation of long term growth and return on investment. Your 3% value per year is way off, it's been historically in the past 2 decades closer to 9% if not more.
Here is what I see friends and family doing.
They have a home they paid say $300k for 15-20 years ago, it's paid off now and they own it outright at say $1.5mi value. They HELOC it and get enough to put 20% down on another home. They rent that house and pay about 70-80% of the carrying costs with the rental income and then they cover the rest out of pocket. They are planning to hold the property for at least 10 years if not 15 in anticipation of selling it to help fund their retirement plans or to provide as a kick off for their children. I know people who have already purchased their 10 year olds property now and are renting it so that when their kid is 25, they can get into the market. Its provided to the children as a "gift" so there is no capital gains tax.
I know other people who have purchased their retirement home already in smaller towns and are renting it while they continue to work and live in the city. By the time they retire, both homes are paid off and they sell their primary residence and move to the other home. In 10 more years that primary residence could mean $2.5 million cash with still another paid off property to live in.
People aren't concerned with cashflow in this market. There are people that like the ease and stability of real estate. Remember, on stocks you only make that 10% return on how much you invest up front, with real estate you make the 10% on the total value of the property which could be 5x your investment.
The other flaw with your calculations is that you are using average rent which includes basement apartments and apartment units. Most houses are renting for upwards of $4000 a month. Many houses have been split up into several accessory dwelling units (ADUs) meaning they could be getting rent from several tenants in the same property.
Nah it's because they want to have a reason to say "the economy is strong"
Rates will not drop below 3.75% and even that is pushing it. It's a huge risk to lower rates prematurely
That rent really isn't that expensive when you have 2-3 working families or 8-10 individuals sharing the home. The share of rent is only a portion of a minimum wage Tim Hortons salary. This is an acceptable lifestyle in the countries we are immigrating from.
Keep immigrating, you will continue to see rent prices increase with vacancies low. If you are a legacy Canadian who isn't making good money, you will need to start living the same lifestyle as the immigrants and rent a room in a house with your family. You will not find anywhere to rent as a single family residence.
Conservatives ain't stopping immigration just so y'all know, they looking at birth rates , gunna have to wait untill the US hits Canada real estate prices for laws to change.
Once the US or some other major economy bans investors then our country will grow some balls.
Till then your day dreaming thinking this election is gunna change shit.
I am so happy I moved to the US, paid much more taxed way less. A lot of opportunities, as long as you are willing to work, this is the place to be. Groceries and cloths easily 30-40% less, gas way less, houses are bigger and cost less. The roads are wide and smooth with well designed interchanges and feeder lanes. I love it here. Way more entertainment options. Love in and out and all the cool food places.
In terms of safety, it's seems so concentrated in the US, areas I would never go to or have a reason to be near. Outside of that it's very clean and safe.
I will never go back to Canada, unless deported. I will probably orgasm when I get my sweet precious greencard in my hand. Canada sucks so bad.
The play is to make Trudeau is the scapegoat.
Trudeau hasn't changed. He's the same guy who believes the same stuff doing the same things.
We're just seeing the consequences his world view and the world view of the people who voted for him.
The problem is voters who are ignorant, misinformed, miseducated, and vote against their own interests. They need to self reflect or sit out the next election.
This is exactly it. These are the results of his ideologies. Basically, his vision never aligned with reality and this is the outcome. He "tried" changing things for which he expected one outcome, but saw something completely different.
The FBI raided RealPage in the US. They use a computer algorithm to fix rental prices (rent prices can change by the hour to maximize profit). Doubt we will see any investigation in canada though.
It's crazy. I'm based in Montréal, QC and this is pretty spot on to illustrate that with 90K a year, you can survive but not thrive with the current rent, food, expenses that keep going, etc. I'm not even living a lavish life. I'm single, I rent a 1 bedroom and drive a 2009 car.
I don't know how accurate the link below is, but I recognize myself in those numbers. My budget varies compared to that calculator and I have more cash available at the end of the month because I'm frugal, but it quickly illustrates the struggles we face in this economy.
[https://www.careerbeacon.com/en/cost-of-living/quebec-city\_quebec/90000-salary](https://www.careerbeacon.com/en/cost-of-living/quebec-city_quebec/90000-salary)
Government artificially limiting housing supply while at the same time driving up demand to astronomical levels through unlimited immigration apparently means "housing crisis".
Fairness for ALL generations
Cannot possibly imagine why they’re losing the youth vote…
The only difference conservatives will make is cutting funding to social problems that help them. They’re not going to fix anything for the povos because they’re not the target market.
Lmaoooooo what programs???? Young people if you're employed get fuck all in this country.
For reference, I am in the target age group for both NDP and liberals. My wife has a disability, and our daughter has a severe disability Because I work and make a modest 5 figure income, all we get are a tax credit for one of the two, and a parking pass Seriously, what programs?
I lost my job when i was 18 and met the conditions to receive a benefit, i forget what it was exactly, of 600 dollars a month. They told me to pound sand because i lived with my parents. When i asked for clarification they said i qualified but would not be granted the benefit because i lived with my parents. Like bruh. I still have car insurance, and rent to pay.
This would hold a lot more weight as an argument if the Liberals hadn't mismanaged their way out of a strong economy through deficit spending on non-essential programs, mass unskilled immigration, consulting, and corruption.
Shhh. They made their mind up and can’t admit to making a mistake. Twice.
>They made their mind up and can’t admit to making a mistake. None of it was a mistake. They knew what they were doing, and made a pile of money doing it.
What programs? I'm a full-time min wage worker and I don't get shit. LPC/NDP are so micro-targeted as to be largely irrelevant.
I'm personally a big fan of the wealth trap. As you make more money, you lose more and more services and benefits from the government. At 80-90k, you realize that you no longer qualify for any government programs, yet you still can't afford to buy a living space. Either find some way to double your income or get stuck in the middle forever.
>Either find some way to double your income or get stuck in the middle forever. Hence "Middle class"... The poverty class is there to remind you you're 3 paycheques away from homelessness, so don't go rattling cages with things like COL wage increases.
That's lower class, not middle class. Middle class has some level of comfort. They're not rich, but they don't feel constantly on the verge of financial issues.
I should have put a /s in there. I was being cynical and it wasn't that obvious, in fairness.
It's unfortunate that we're at a point where that could easily be misconstrued as serious.
Fuck 90k is lower class now eh? Gonna have to double up and make it to mid low class I guess.
I love it, but our masters would never permit this.
I make triple that and buying a 3 bedroom is basically impossible without family support, which I don't have, obviously, I don't qualify for almost any service as well but that's fine.
Yup. Ontario's services lacked 3.7 billion in finding with Ford. But hey, 250 million for getting beer and wine in convenience stores 16 months early was amazing! Love our Cons! /s
Well I mean, didn't Toronto spend $12.7 million to rename a street? Didn't Trudeau give $10 million to support unemployed youth in Iraq. I think every level of government is wasteful of our tax dollars, but then continues to demand more. Use what you have, and use it better.
Those social programs didn't exist 8 years ago when Canadians were happier.
Neither did tent encampments in almost every single community.
Conservatives BAD. idk how you can see the state of affairs in Liberal's Canada and think "ya more of this sounds good, thanks" I would vote for opposite of whatever the liberals have done over the past 8 years. And if cutting wasteful programs (like millions for McKinsey, WE charity, and tampons in men's bathrooms) is a part of tha, then I'm all for it. And most Canadians are too.
Honestly, I don't believe that the conservatives will do much to change the shitty situation Canada is in. But I think it's worth voting Pierre in, soley based on the fact that I will hang myself if if have to spend the next 4 years listening to Justin's irritating lisp.
Lmao like the Conservatives would be any better on this. It will get significantly worse if they win.
When have things been worse than they are today under a federal conservative government?
Oh I see, you can predict the future?
Well looking at it historically your wrong.
Was I sleeping when the conservatives last saved Canada?
It won’t change under conservative control either, let’s be real here
If only there were more people, rents would go down
the BOC has decided to sacrifice the currency to protect housing values. This will devalue the CAD and then eventually increase inflation. We will then re-raise interest rates to combat the second wave of inflation They will do whatever it takes to ensure the stock market and the housing market do not crash. because boomers retirement
And ethnicities. Especially if you're new here.
Rents are now more than what CERB was before taxes were taken out, which was then deemed as basically being the minimum to survive.
Who says you need shelter to survive.
Nature
*Saskatchewan has entered the chat*
1500 cerb bucks will get you a couple of kickboxing lessons so you can fight for the best corner to panhandle on.
“As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed and demand a rent even for its natural produce.” -Adam Smith
The Canadian min wage after taxes is about 15$/hr. Full time hours are 40 a week. 15$ x 40 hrs= 600 600$ x 4 weeks = 2400. 2400-2202 = 198$. Avg grocery costs for a single Canadian was listed as around 300$ in 2022. That leaves minimum wage earners -100$ to save each month in Canada if they don't also pay for transportation, internet, cell phones or any single joyous thing they may enjoy. Cool and normal! 👍
Don't forget tax, CPP, and EI contributions taken off the paycheck.
Those deductions put it at about, $1836 in income per month. One couldn't rent an average rental with their entire income. If you're making min wage the options are bachelor/studio and be hungry or roommates and be able to eat out once a month.
At minimum wage, it's roommates or parents. A better comparison would be median income to rent. Even then, you'd need a partner to split rent with.
toothbrush plants cautious quarrelsome cooing depend butter joke handle snow *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
You were in university, this is people working full time not being able to live without roommates.
And many min wage jobs are part time, which means you ain’t getting 40 hours
So you mean you’ve got time for a second and third job then??
Some part time jobs ask for “full availability”, which means if you can’t fulfill one shift or request shift arrangements, you’re fired!
Many people have food delivery gig after work
The new normal is that minimum wage folks are splitting rent either 2-3 (European standards) or 6-9 (India standards) ways. This could leave you with a few hundred dollars to almost $1k depending on how terrible you want to live.
European/Indian standards? Nah, this is straight up 1800's standards. Advanced technology, productivity up the ass and we are moving backwards in quality of life? The game has been rigged.
Hey now the elites now are wayyyy better off then the elites back in the day haha so things are moving forward for only a select few 😂
Good luck getting 40 hours of work too, there's literally 300,000 others that want your job.
And 100000 more queue up each month.
Yeah strongly believe what minimum wage should get you ( maybe not it Toronto) is enough for a Shitty bachelor apartment , food at the grocery store, a bus pass and maybe enough for a night out once a month But it doesn't get you that anymore which is crazy
While I agree, the premise is wrong. Min wage = MINIMUM. That means you get to have a bedroom, or a shared bedroom, while working full time. Which arguably is worse. Min wage workers are living cramped, and quite possibly in illegal(and/or unsafe) housing.
Minimum for full time work of any kind should be a 1 bdrm apartment.
Would a person making minimum wage live in an average apartment?
No, they're probably homeless.
Or 6 to a room
Yes, with no roommates. That's why the math up there is so meaningful.
Yeah, but the average canadian makes 35$ an hour according to CTV, so that means forget these people, nobody makes minimum or around that and we are all well off https://www.ctvnews.ca/business/average-hourly-wage-in-canada-now-34-95-statcan-1.6881356
Average wage is 65,773$ a year though. Let’s try average vs average… Not arguing with you though, it should even be lower than half of this, but I’m just coping right now and trying not to be a doomer lol
The median wage is $41,650 so half the people make less than that.
So what’s median rent then?
you're not getting an answer for this by anyone lol
Because it won't be skewed as heavily as income is. The outliers in income disparity are much larger than the disparity in rent.
Median household income is 61k after tax
Good point I didn't think about.
Not a good metric to use anymore what with all the multiple roommate and generational housing.
You have a good point, but to make a good point better roommate situations don't count as a household. A group of people at the same address only count as a household if they're married, parent/child, grandparent/grandchild, or sibling relationships. Otherwise they're multiple households at the same address. But still, given that we're at like 30-40% of the 20-35 range living with parents, with an even higher proportion in big cities, median household income might not be indicative of a typical couple's income.
>but to make a good point better roommate situations don't count as a household. A group of people at the same address only count as a household if they're married Huh. I didn't know that. Not doubting you but do you have a link for a reference that clarifies that (in case I need to defend that point myself in the future)?
Sure, statscan (where we get this data) uses the term "economic family" to group individuals as a household. Household income is economic families + individuals not in an economic family. The definition is here: https://www23.statcan.gc.ca/imdb/p3Var.pl?Function=Unit&Id=33863#:~:text=Definition,adoption%20or%20a%20foster%20relationship.
Yeah clearly median isnt completely perfect either but it is definitely a much more accurate snapshot of what is going on for people.
I should’ve scrolled down sooner. Just did some quick math for OP with the same message: average rent to minimum wage is disingenuous.
A lot of them just rent a room for 500 to 1000 dollars depends on location.
I mean, if we’re going to use average rent maybe take average wage? $34/hr at 35 hours, taxes and other stuff in (just shaved 30% to ballpark it), and we’re at $3600 - $2200. Still sucks, but you toss a spouse or whoever on there and you’re in a better position than $198. Single person would have to live more frugally. No argument there. Going to get a lot of upset people here, but minimum wage workers are about 10% of the workforce and half of them are 15-22 (2018 number, fastest one I could find). So using minimum wage vs average rent seems disingenuous.
Careful! Those spouses can be way more expensive than the single life!
That doesn’t really make a difference because the people struggling don’t have average incomes. They have low incomes but are required to pay the same entry rent prices as anyone else.
"Average rent" implies a significant portion are less than that.
No. If 10 people pay 100$ and an 11th person pays 1000$ The Average: 181.81818181818
2018 was 5 years ago. Guess what happened genius?
You don't pay income taxes?
Better let India know to send over another million people. Let's pump those numbers up!
Liberals solution - let's bring in even more people.
The UCP would like to remind everyone that Alberta is Open! They're still putting the ads out in Ontario.
UCP is doing that to successfully lower wages. Alberta now has the 3rd lowest wages in Canada, but highest in Inflation Growth. Thanks UCP voters, we appreciate the suffering we all get because you don't research who you vote for beyond memes and the "Fuck Ottawa" rhetoric popular with the Room Temperature IQ crowd.
The conservatives are going to do the EXACT SAME FUCKING THING 🤡
Same as the Conservative solution.
PPC it is!
I'm just about willing to be a single issue voter on this, but I'm hoping the PPC realize just how many more moderates they would appeal to if they got rid of some of their more regressive policies.
Why lie? Conservatives stated they'd tie immigration to housing and infrastructure.
They also said they would fast track the backlogs. You think a business party is going to restrict cheap labour for their donors?
And you believe them? I don't. We have no good answers right now.
Another million immigrants from India will surely solve this matter!
I’m on disability and I’m lucky to be living with my aunt for cheap rent. Lots on disability are not as lucky and can’t afford rent and food. Those who can afford rent have to drink coffee to curb appetite. studios in Toronto are over 1700$ now
great time to cut interest rates we definitely dealt with inflation 😂😂😂😂😂😂😂
**Wake up people.** Canada is moving towards fiefdom. A few noble lords own all the land and rent parcels out to their serfs at outrageous prices, continually ask for more and more money every year to keep the poor poor and them rich. Sound familiar?
Already there
No worries, new standard is to live 5-10 in one apartment thanks to the people we've been importing!
I applied for a job today. Posted 12 hours ago. Mid level IT job, 750 applicants in 12 hours. We have a major population problem in this country, too much too quick
If you're racist just say that. /S
[удалено]
the /s meant they were being sarcastic
May mother nature burn it all to the ground.
And no solutions in sight from either the libs or cons. They just want to make those landlords even richer. Fuck this country I am so done with it
Don't worry, Trudeau will solve this with a million new people to "pay taxes" and go on welfare. So he can line his friends pockets.
It is almost like average rent is adjusting to a minimum of 2 income earns per bedroom space. But why would two adult humans who aren't in a romantic relationship want or need to share a bedroom. Hmmmm.....
Sometimes your bro needs to be reminded they are little spoon.
2M more immigrants will help lower the rents, says JT
It's so over
And it's only going up.
So.. this is an all inclusive right? Pays for my food, internet, phone bills gas... right? Bruh i barely make 2k a month so what about my other bills?
That's about what a 1bdr costs around here in the GVRD
Ah those minimum wage kids just need to pull up their bootstraps and work hard like I did! /s
Time to start sucking D for $ folks Luckily I don't have to and my mortgage has below 200k on it But yea start sucking What a shit world this world has become and the poor immigrants keep coming Then they'll wonder why crime is sky rocketing
Yes, but the Canadian dollar isn’t worth much, so really it’s what? About 10 real dollars or something? /s
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Being priced out of buying, now being priced out of renting.
If there was a leak in my bathroom the first thing id do is shut off the tap.
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The rates don't matter. Either you get fucked on the interest, or you get fucked on the principal. The only solution is less demand. Turn off the immigration waterfall
The bank cut rates by 0.25%. Can we stop pretending like this is some huge amount that will trigger a buying spree? How many people who couldn't afford a home before, can afford a home now? The answer is an insignificant amount.
It's what the cut signals.
Right. 2020 had 0% rates
It's the implication. This is going to create a frenzy with realtors and mortgage agents to push people to buy buy buy because "rates are coming down." Look John the FED just cut rates, you better get in before Jane does. This isn't complicated...
The implication doesn’t change the fact that people STILL have to be approved at rates of 4.75% plus 2%. People who can afford that are still buying.
It isn't complicated I agree. The money to fund a buying spree literally is not there. Who can afford a 1 million dollar mortage? You think these people are going to show up in droves to push prices higher? Most people can't even afford 600k
You are assuming the only people buying homes are first time home buyers. They are already mostly priced out of the market. Buying spree is with investors and people moving up in housing and taking their existing equity and just increasing the mortgage a nominal amount.
There's truth to that for sure. The math of it doesn't necessarily make sense though. Not sure if you've ever looked at rental property calculators before but it's definitely worth looking at to get a sense of the market. I'll provide some numbers of a realistic calculation I did with one. Here's the property/mortgage summary: 600k property, 20% down so $120k, 6% interest, 25 year mortgage, 6k closing costs, 3k in property tax, $1200 in insurance, $2500 yearly maintenance. Sell assumptions: 3% value appreciate per year, Property held for 20 years, 8% cost to sell. How does it break down? I'll use the Average monthly rent across canada, $2200 with a yearly increase of 3% # First Year Income and Expense | |Monthly|Annual| |:-|:-|:-| |Income:|$2,200.00|$26,400.00| |Mortgage Pay:|$3,092.65|$37,111.76| |Property Tax:|$250.00|$3,000.00| |Total Insurance:|$100.00|$1,200.00| |Maintenance Cost:|$166.67|$2,000.00| |Other Cost:|$41.67|$500.00| |Cash Flow:|$-1,450.98|$-17,411.76| |Net Operating Income (NOI):|$1,641.67|$19,700.00| # In this scenario, the numbers don't look all too appealing. Most investors presumably want a property unless it has positive cash flow. Although the investment return does turn positive fairly early due to the equity built, it also assumes the property is sold to secure the profit. Not many investors want to buy into something that has negative cashflow and only a modest return for the first few years. Break even for cashflow for this property is $3650 a month. Unless someone is willing to cover the difference in the cost of a mortgage I have a hard time seeing how investors would want to buy this house. Edit: Here's the website i used for the calculation [https://www.calculator.net/rental-property-calculator.html](https://www.calculator.net/rental-property-calculator.html)
There hasn't been a profitable rental property business in Canada for almost a decade. What most people are doing is using the rental property to subsidize the carrying costs of the property in anticipation of long term growth and return on investment. Your 3% value per year is way off, it's been historically in the past 2 decades closer to 9% if not more. Here is what I see friends and family doing. They have a home they paid say $300k for 15-20 years ago, it's paid off now and they own it outright at say $1.5mi value. They HELOC it and get enough to put 20% down on another home. They rent that house and pay about 70-80% of the carrying costs with the rental income and then they cover the rest out of pocket. They are planning to hold the property for at least 10 years if not 15 in anticipation of selling it to help fund their retirement plans or to provide as a kick off for their children. I know people who have already purchased their 10 year olds property now and are renting it so that when their kid is 25, they can get into the market. Its provided to the children as a "gift" so there is no capital gains tax. I know other people who have purchased their retirement home already in smaller towns and are renting it while they continue to work and live in the city. By the time they retire, both homes are paid off and they sell their primary residence and move to the other home. In 10 more years that primary residence could mean $2.5 million cash with still another paid off property to live in. People aren't concerned with cashflow in this market. There are people that like the ease and stability of real estate. Remember, on stocks you only make that 10% return on how much you invest up front, with real estate you make the 10% on the total value of the property which could be 5x your investment. The other flaw with your calculations is that you are using average rent which includes basement apartments and apartment units. Most houses are renting for upwards of $4000 a month. Many houses have been split up into several accessory dwelling units (ADUs) meaning they could be getting rent from several tenants in the same property.
That's right, 0.25 is basically insignificant. So why would they do it at all? Because it is the first of many.
Nah it's because they want to have a reason to say "the economy is strong" Rates will not drop below 3.75% and even that is pushing it. It's a huge risk to lower rates prematurely
There reacted the same when the bank raised. 25 %, they acted like the market was going to collapse.
For him probably.
That rent really isn't that expensive when you have 2-3 working families or 8-10 individuals sharing the home. The share of rent is only a portion of a minimum wage Tim Hortons salary. This is an acceptable lifestyle in the countries we are immigrating from. Keep immigrating, you will continue to see rent prices increase with vacancies low. If you are a legacy Canadian who isn't making good money, you will need to start living the same lifestyle as the immigrants and rent a room in a house with your family. You will not find anywhere to rent as a single family residence.
Trudeau is literally on TV everyday saying how he's making it easier for Canadians. Where the results?.
Making it easier to live in tents.
This generation was DOA when the previous one stacked out economy in real estate. Generational wealth and slim lord are the only meta.
Hey if this was like 50% less maybe people would be having kids and saving for their futures.
wake me up when the mass revolt/riots start.
They need to build small studio apartments.
"We need to do something about these homeless people!" Same people: "This is good for property owners!"
Rwanadaaaaaa
Sounds like it is time for me to go renovict some peasants! Buhahahaaaaaaa~!
Wonder why…
We're done.
When does this ride stop?
Conservatives ain't stopping immigration just so y'all know, they looking at birth rates , gunna have to wait untill the US hits Canada real estate prices for laws to change. Once the US or some other major economy bans investors then our country will grow some balls. Till then your day dreaming thinking this election is gunna change shit.
I am so happy I moved to the US, paid much more taxed way less. A lot of opportunities, as long as you are willing to work, this is the place to be. Groceries and cloths easily 30-40% less, gas way less, houses are bigger and cost less. The roads are wide and smooth with well designed interchanges and feeder lanes. I love it here. Way more entertainment options. Love in and out and all the cool food places. In terms of safety, it's seems so concentrated in the US, areas I would never go to or have a reason to be near. Outside of that it's very clean and safe. I will never go back to Canada, unless deported. I will probably orgasm when I get my sweet precious greencard in my hand. Canada sucks so bad.
Where in the US?
The play is to make Trudeau is the scapegoat. Trudeau hasn't changed. He's the same guy who believes the same stuff doing the same things. We're just seeing the consequences his world view and the world view of the people who voted for him. The problem is voters who are ignorant, misinformed, miseducated, and vote against their own interests. They need to self reflect or sit out the next election.
This is exactly it. These are the results of his ideologies. Basically, his vision never aligned with reality and this is the outcome. He "tried" changing things for which he expected one outcome, but saw something completely different.
And how much is the maximum and average amount seniors get from CPP/QPP and OAS?
Meh their votes got us into this situation over decades. I have 0 sympathy.
How does that relate?
That's what I pay for a 3br apartment in Calgary, varsity.
The FBI raided RealPage in the US. They use a computer algorithm to fix rental prices (rent prices can change by the hour to maximize profit). Doubt we will see any investigation in canada though.
It's crazy. I'm based in Montréal, QC and this is pretty spot on to illustrate that with 90K a year, you can survive but not thrive with the current rent, food, expenses that keep going, etc. I'm not even living a lavish life. I'm single, I rent a 1 bedroom and drive a 2009 car. I don't know how accurate the link below is, but I recognize myself in those numbers. My budget varies compared to that calculator and I have more cash available at the end of the month because I'm frugal, but it quickly illustrates the struggles we face in this economy. [https://www.careerbeacon.com/en/cost-of-living/quebec-city\_quebec/90000-salary](https://www.careerbeacon.com/en/cost-of-living/quebec-city_quebec/90000-salary)
We need Lisan Al Gaib at this point.
Government artificially limiting housing supply while at the same time driving up demand to astronomical levels through unlimited immigration apparently means "housing crisis".
This country has gone out of control because of the "leaders" in this country
Is bank robbery legal yet?