Housing Bubble II: The Quest To Build Enough Homes Where People Actually Need Them
This thread is a continuation of the previous thread. Please proceed.
|
Quote:
|
It used to be primarily a bubble (nearly purely the product of speculation and grannies getting in on the action, a la Bre-X). Now it is primarily supply and demand.
|
|
Quote:
We will still have to see what happens this year. Canada has pulled a number of our diplomats out of India. That has the potential to negatively impact our ability to process student visa applications. The "Quest to build housing where people need them" is a very appropriate tittle. That is laser focused on the problem. |
Quote:
|
Toronto/Canada is in a bubble that both have typically ranked first or second in the world in the past decade. If you're interested, we've been swapping places with Germany. Price increases are not sustainable without foreign influences for which policies have been proactive in maintaining foreign interest.
It's not evidence that this is sustained growth as predictions on its cyclical end haven't transpires during the last ten years. It's a prediction afterall and as I said policies at all levels have supported its continuation. It's one of or even the largest driving force of Toronto's economy and the wealth of the economy is the number one determination in elections. In other words, it would have been (past tense ) political suicide to introduce real legislation that would deflate the bubble. Is there a major market that doesn't need more homes they way things are run now? |
The thread title is really inappropriate (others have beaten me to this point.) Ten years ago, it was the correct title, but real estate discussion in Canada nowadays should take place in “The Canadian Ponzi Scheme Discussion Thread”.
|
Quote:
(A quest which should end in 2025, the way things are going.) |
Is there a reason for all these new threads specifically now? I know there used to be a 10,000 post limit rule on threads - is it just catching up to that rule?
|
Quote:
|
Canada will never be able to build enough housing while we continue to import a million people a year, it just can't happen.
Housing bubble: How Trudeau screwed the housing market and couldn't possibly care less about the harm it is causing but due to his falling ratings has decided to throw billion away by buying a rubber plug to stop the dam leak. |
Looks like we have term. "Decommodification of housing"
Banning Airbnb and similar services is the first step of "Decommodification". At least that is what the BC Green party is calling it. The NDP are going along with it. The BC Party put up some resistance but back down. The only party now against getting rid of short term rentals as the BC Conservative party. https://www.timescolonist.com/local-...upport-7716972 The province implementing targets for new construction in some municipalities look to be causing councils to consider how they need to stand-up to their voters. Saanich has a 104 unit market complex that is coming before council. They being more open minded due to the provincial mandates that perhaps they would have been in the past. Given there is a 9 story residential building going up across the street, my guess is this one will be approved. https://www.timescolonist.com/local-...n-lake-7718862 |
Quote:
Quote:
|
Quote:
Quote:
A lot of these immigrants will get jobs in the construction industry by the way. |
Quote:
Quote:
|
The construction industry historically has pretty bad absorption in relation to immigration. Skilled trades especially given the archaic accreditation system.
|
Just saw a two bed/two bath apartment in New Westminster trying to get $3300 a month for rent.
Pure lunacy. |
Quote:
https://www150.statcan.gc.ca/n1/dail...30322f-eng.htm The number is going to be substantially higher in 2023. https://twitter.com/BenRabidoux/stat...61431828889606 |
Quote:
If it is on Facebook, it will be accompanied by multiple laughing emojis and comments about how landlords are crooks. |
All times are GMT. The time now is 10:24 PM. |
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.