"It comes as no surprise that the political class has failed to respond to the crisis in any meaningful way. Every Canadian political party is home to landlords with investment properties." https://t.co/eegd7y3eYK
Instead of 'strongly urging' landlords to behave, @fordnation, could you introduce a bill that gives Ontario municipalities the power to set rent caps, and other protections? This gouging issue goes wayyyyy beyond the #Barrie tornado. Housing is a human right, not a commodity.
On top of that, the "affordable" units are not truly affordable at all. As the article points out, 30% of median household income amounts to "over $2,000 per month."
Giving handouts to wealthy property developers to build unaffordable units isn't working.
#cdnpoli#onpoli
The @liberal_party on the other hand is fine selling off Canadian homes to foreign investors but has introduced a 1% tax if those homes are left vacant
When investors are making double digit returns, 1% is no barrier
But it gives the appearance the Liberals actually care
24% of newly built condos in Richmond and 19% in Vancouver are owned by foreign buyers.
And we're still debating whether foreign money inflates house prices?
So far only the @NDP and @CPC_HQ plan to introduce barriers on foreign ownership...
https://t.co/eqe6QyKGDQ
We’re proud to share @wellnesstogethercanada – Canada’s first and only online platform offering free immediate mental health and substance use support for people of all ages. . Help is just one click away. https://t.co/8ZTDeYjN6r.
Good point by @paulkrugman in the @nytimes: “When a millionaire or billionaire evades taxes, this comes at everyone else’s expense: A bigger budget deficit might mean less room for social spending, but it also means less room for legal tax cuts”
https://t.co/vrVWVfQeXm
Recipe for Toronto:
- 49% awesome people
- 40% people that adopt the opinions of their peers
- 0.1% very rich, but mediocre men
- 10.9% mediocre men that don't realize the 0.1% they admire couldn't get a gig as a manager at No Frills without their parent's connections
🇨🇦's housing crisis is 110% due to its economic dependence on housing.
After oil crashed in 2015, not one politician knew what to do. They leaned on housing because it's easy.
Now homes make more than the people living in them. Shelter instability is the goal.
#ToRE#VanRe
The big opioid distributors settled for $26 billion after opioids killed hundreds of thousands of people.
Sounds like a lot. Except the four companies make $26 billion every two weeks.
No one goes to jail, and the penalty is just a cost of doing business
https://t.co/snWbe5Itwn
Wealth in 1991
Richest 1%: $5.2 trillion
Poorest 50%: $0.8 trillion
Wealth in 2021
Richest 1%: $41.5 trillion
Poorest 50%: $2.6 trillion
When they say wealth will "trickle" down they mean it literally.
[source: https://t.co/YI8AXJ0kTF]
I think institutional money is going to cause real problems for housing. The returns are great and much much better than CRE with limited downside. Everyone I know who has rentals it’s getting 5 calls a week. If housing becomes fully financialized households can’t to compete.
@NBCNewsBusiness when we make every aspect of America a commodity to make money off - housing, health, water etc - the natural outcome will be companies charging exorbitant amounts for people to meet their basic needs.
Canada’s hesitancy in confronting PRC is partly assisted by influential people in Ottawa who enjoy lucrative board memberships, or associations with law firms, or well-connected Canadian businesses that have close ties with PRC state business.https://t.co/nO2idWVDPu @torontostar
75% of new jobs require a college degree
33% of workers have a college degree
We need to stop requiring college for jobs that don't require a degree.
As a CEO I care a lot more about experience and your desire to learn than what class you took at 19
https://t.co/og6rmOnRyl
"If housing becomes fully financialized households can’t compete"
There is a segment of people who fully support institutional investors buying up houses
They tend to be land owners who want you to rent their missing middle apartment
You'll own nothing & you'll be happy!
Who knew Canada would take more action on a homeless camp than it would on...
Corruption, drugs, money laundering, tax evasion, and political fundraising dinners with questionable wealthy business executives...