There is also a lot of greed in third world countries. You got to bribe a lot and negotiate. For healthcare yes you got to pay top dollar but even then it does not compare what can be had in the US. That is why there are mass amounts of immigrants especially Indians coming to Canada. They come for the freebies like regular paychecks to have kids, pensions for their old retired parents, and free healthcare and it is very good healthcare.
Housing market is hot
- Thread starter Bigdaug
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Of course they are capitalizing and it works. Mass over population is the cause. Look to other very densely populated cities to get an idea where Toronto is headed check out Tokyo for example. Trudope is a POS just like his father. Both are socialists pushing the globalist agenda. He is bringing mass amounts of immigrants here in an attempt to get control of parliament. He is buying votes and also slowly inching towards total control of the country by giving free money out how? He buys votes and gets people dependent on the government and businesses go bankrupt making it easy to install a socialist state. Expect new taxes. Trudope and his father favored socialist leaders and Venezuela and favors a one party system.
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LILLEY: Trudeau signals big changes are on the horizon Brian Lilley Toronto Sun Aug 19, 2020 • Canada after the pandemic will not be the same as it was before if Justin Trudeau has his way. I’m not talking about the bankrupt individuals or businesses forever shut down by COVDI-19, I’m talking about the shape of the economy. “This is our moment to change the future for the better,” Prime Minister Trudeau said on Tuesday as he announced Parliament would come back in September. “We can’t afford to miss it because this window of opportunity will not be open for long.” It was a call to fundamentally transform Canada in the middle of the pandemic... “Justin Trudeau is weighing sweeping changes to the country’s social welfare system and a series of economic measures that will align Canada with ambitious climate goals,” Reuters reported. Those comments mirrored what had been leaked to the Toronto Star more than a week earlier, Trudeau wants to remake the Canadian economy using the pandemic as an excuse... Based on those leaks we should brace for much higher government spending, expanded social programs, new taxes and a real push to shut down Canada’s oil and gas sector... Expect radical change.
I am going to go out on a limb and say you have never left your town/suburb in Canada, and if you have it is to sit in a resort in another country going between the pool, the hotel and the restaurant, and when Brian Lilley is your source hahha.
I don’t think mass immigration is about culture change, at all. I mean, it’s a product of mass immigration, but I don’t think it’s the goal. Nor do I think it’s to stack the voters on one side or the other.
I think it’s because our economy is a Ponzi scheme, and they need new investor money (taxpayers) to pay off the old (CPP, OAS).
They have to continuously expand the tax base to prevent the system from collapsing on itself.
It’s not sinister social engineering, it’s economics.
I paid like $1500 USD per month for a master bedroom in Singapore. A bed with a bathroom. There were like 5 other tenants in the house that shared the main bathroom and the kitchen.
My gf at the time lived in a 3 bedroom HDB with 8 other people, depending on how many girls the owner had on rotation.
It’s probably the most expensive place I’ve ever been.
My gf at the time lived in a 3 bedroom HDB with 8 other people, depending on how many girls the owner had on rotation.
It’s probably the most expensive place I’ve ever been.
GTA house prices went up 20% being reported. Another high and during an huge economic downturn.
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TRREB says home sales hit record for August in GTA - Toronto | Globalnews.ca
Home sales in the Greater Toronto Area posted a record for August as they rose 40.3 per cent compared with a year ago and prices shot higher, the Toronto Regional Real Estate Board said Thursday.
globalnews.ca
I feel bad for anyone under 35 looking to buy a home in the GTA. I can't fathom taking on such an absurd task. I'm not as knowledgeable about the housing market so no idea what pushing the prices up for the past 10+ years but if I didn't have a place already I couldn't imagine having one in this economy. Even with double income no kids household, how does one pay off a close to a million dollar mortgage?
I originally thought July and August was going to bring a slowdown in the housing market, originally thinking the negative affects of the shutdowns for 4 months was going to be a lot worse which we wouldn’t be able to handle.
But It hasn’t been which was a surprise to me and a direct result of the measures taken and the great job the government took with the measures they put in place for employers and employees.
Applaud Trudeau and Ford for the great job they’ve been doing with containment measures and measures in place for businesses And Canadian’s so far.
But It hasn’t been which was a surprise to me and a direct result of the measures taken and the great job the government took with the measures they put in place for employers and employees.
Applaud Trudeau and Ford for the great job they’ve been doing with containment measures and measures in place for businesses And Canadian’s so far.
Finite inventory coupled with both money in the city and foreign investors willing to buy sight unseen. I'm betting another Hong Kong exodus is coming. We are quite stable here so it's a great place to quietly park cash.
As well a slowdown in building a bit in Toronto while Covid 19 is active. Probably more factors I'm not thinking of.
I was wondering as well what's driving this economy during a massive recession. Through a quick search I found the answer.
Trudeau. Second quarter we lost 20 billion from layoffs and people not spending money. The government through 70 billion into the economy three times what they lost lol. Cerb wage subsidies.......anywhere and everywhere.
Thats why we haven't seen a full blown meltdown
Not true, There were more listings in July and August compared to the year before and that's the exact opposite of finite.
Currently foreign investors have very little if anything to do with driving the market. Matter of fact the only section in the real estate industry that has seen a small slowdown is the market of $1Mln+ and the higher priced homes in the GTA which is what most foreign investors love to park their money into.
The Hong Kong exodus has already started, the Communist party has arrested most of the student protesters along with influential Honk Kong journalist Johnny Lai. Presently they are driving the hot housing market. The Bank of Canada is hedging on housing, they cut interest rates again - foolishly. That's good for the housing market but will send Canada's economy deeper into a deflationary downward spiral.
Yes government keeping businesses afloat and helping every day Canadians had a great impact on the real estate market overall.
The only market seeing a small slowdown is the $1Mln+ in the GTA and the higher priced homes, as the prices are higher these homes are sitting on the market for a lot longer than they would have last year and in many cases having price reductions to be able to sell.
I had a home a few houses down from my own in the GTA not too far out of the city listed for $2.29Mln for about a month and half they received zero offers, they dropped the price to $1.99Mln sold within 3 weeks.
Ongoing I don't think will see any slowdown period for the next few years barring any major events happening, it's going to boom and bigger than before, think the 2010ish housing boom was big this is going to be bigger.
When I say finite inventory I mean within Toronto there are few new homes being built. As in single dwelling. There are still filling in some town homes and splitting properties. But within Toronto some would have had to sell due to business loss. Some out due to layoffs or retirement planning. So really it's just some who had been waiting to get in because of others forced to sell.
And lots of foreign investors also buy condos and smaller properties as rentals and even to house kids coming for school. I still think there is a hidden Hong Kong market similar to the 1999 lead up now in effect. Not massive but enough to keep the prices boosted.
Most foreign investors like to park their money in the $1Mln+ market and the higher priced homes in the GTA. Want to understand this drive to Markham, Richmond Hill to see the houses sitting empty or the $1Mln+ condo market that are sitting empty in Toronto.
Foreign investors are not the driving factor behind the market right now or in the last couple of months, and more then likely in the next few months won't be a significant factor.
2021 and after more then likely they will be.
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The cause is mainly the open floodgates to mass immigration. Toronto for the past 25 years has seen a mass influx of Chinese and Indian immigrants. Population increased rapidly driving up demand therefore prices went up. 25 years ago they started renting out their basements. With Trudope at the helm the situation has got much much worse because he is letting in mass amounts of immigrants to get control of parliament. Now Montreal is feeling the effects of too many immigrants prices are climbing there also. These politicians do not care if people live in poverty they just want to get votes and push their own globalist agenda.
