joe deschenes smith

Trillium Housing. Our mission is to create housing affordability. We are a social enterprise.

[joe deschenes smith @jdstrillium]

@CMHC_ca Good tone on this notice. To deliver this program @CMHC MUST treat the coops as the senior partner. COOPS deliver the housing!
Please @CMHC_ca, the gov't has not mandated ZERO risk for this program. DO NOT repeat the First Time Home Buyers Incentive where $ BILLIONS left unused

[joe deschenes smith @jdstrillium]

Trudeau is right to protect housing values & reduce housing costs.
He can:
Stop CMHC profit taking ($2 BILLION + a year)
Use HST from new home sales (over $7Billion) for HST rebates for modest inc. home buyers
Modest tax on the profit of home re-sales.
https://t.co/Kvsj3zK2OH

[joe deschenes smith @jdstrillium]

Great potential here - but why NO mention housing affordability? Do stats show that the Rich (who can afford to live here) use transit enough to justify it?
Canada’s Most Important Transit Oriented Development https://t.co/EWBxMguqO8 via @urban_toronto

[joe deschenes smith @jdstrillium]

This article shows inflation falling for almost two years. The #1 driver of inflation is housing costs - & high interest rates drive up housing costs. Time to cue interest rates @bankofcanada

Inflation fell to 2.7%.... https://t.co/yCsdDW8QtY via @torontostar

[joe deschenes smith @jdstrillium]

@CMHC_ca I took a quick look at the @CMHC_ca 2023 Annual Report.

You'll see they cut the profit dividend by $1 Billion (paid to federal gov't) down to $1.1B but also increased their cash (and investments) on hand from $25 Billion to $26 Billion. (page 28)

Yes, Billion with a B.

[joe deschenes smith @jdstrillium]

Can someone show these graphs found in the Federal Budget to the @bankofcanada please? If interest rates are currently high to combat inflation, then reduce the rate and lower inflation!

[joe deschenes smith @jdstrillium]

Maybe some extra storeys with affordable units #infraontario ?

[UrbanToronto @Urban_Toronto]

Take a look at the two new #transit-oriented towers in store for Queen-Spadina station, along the upcoming Ontario Subway Line. #Toronto #housing #development https://t.co/BCtSjDYUog

[joe deschenes smith @jdstrillium]

I hope that @InfraOntario ensures there is ownership #housingaffordability at these #transit-oriented sites. All four @TrilliumHousing projects, where Trillium financed purchasers had incomes averaging $75,000, have had transit within a few feet of each site. @PaulCalandra

[UrbanToronto @Urban_Toronto]

Check out the new #transit-oriented community planned for the future Ontario Line's Exhibition Station! #Toronto #development #housing https://t.co/i7QaK72rim

[joe deschenes smith @jdstrillium]

#NHC24

[joe deschenes smith @jdstrillium]

#NHC2024 is federal conference, so focus on feds in housing:
CMHC profit every year ( dividends to feds) average $3 BILLION a year for the last 5 years.
The 5% GST on new home purchases - 125,000 homes, avg price $750,00 = over $4 BiLLION.
@CMHC_ca & @SeanFraserMP have $$$

[joe deschenes smith @jdstrillium]

#NHC2024 is federal conference, so focus on feds in housing:
CMHC profit every year ( dividends to feds) average $3 BILLION a year for the last 5 years.
The 5% GST on new home purchases - 125,000 homes, avg price $750,00 = over $4 BiLLION.
@CMHC_ca & @SeanFraserMP have $$$

[Raymond Sullivan (he/him) @SullivanRay]

Minister @SeanFraserMP at #NHC2024 : “there is no market solution for non-market housing, that’s why they call it non-market housing”

[joe deschenes smith @jdstrillium]

Maybe Canadian pension plans should invest in residential real estate - fewer people might be going to offices, but they still need a place to live.
Canada's largest pensions bet big on commercial real estate — now offices are emptying... https://t.co/EVAgHdCsSW via @torontostar

[joe deschenes smith @jdstrillium]

Check out the podcast On Our Way Home - I explain how Trillium Housing delivers housing affordability, background on our work & public policy ideas to get more housing affordability delivered to Cdn families.
Affordable Home Ownership for All https://t.co/b0QaiGn2un via @YouTube

[joe deschenes smith @jdstrillium]

The #1 cause of inflation in Canada is high interest rates impact on housing cost - so logic demands that rates go down. But consumer spending (record high credit card debt) goes unchecked by fed regulators?
@bankofcanada
. https://t.co/mCewSCX07r via @torontostar

[joe deschenes smith @jdstrillium]

Much like the Trillium Housing program....

They didn’t see how they’d ever be able to save a down payment to buy a home in the GTA. Then they got help from an unexpected source https://t.co/rAxVM35gH0 via @torontostar

[joe deschenes smith @jdstrillium]

Feds needs to correct backward interest rate policy - jacking interest rates that are the #1 driver of inflation. While NOT addressing rampant consumer credit card debt
Majority of Canadians now have more debt than savings, StatCan says. https://t.co/djGLQJzFJk via @torontostar

[joe deschenes smith @jdstrillium]

@HousingNowTO @YSM_TO @CityPlanTO Given the density of the new private and TCH buildings nearby as well as transit I think 10 storeys is not enough. Non-profits are not good at getting the density and really the city should be prioritizing these developments over nearby for-profit projects.

[joe deschenes smith @jdstrillium]

@MayorOliviaChow @gordperks @viraniarif Fingers crossed that the City of Toronto can break with past results & succeed as a builder on this project.
With announced government funding of $25 million that works out to $625,000 PER UNIT ! So there is lots of cash being provided.
@MayorOliviaChow @SeanFraserMP

[joe deschenes smith @jdstrillium]

@VanMarInc @BC_Housing @RLA_Architects Our partners @VanMarInc doing more good work!

[joe deschenes smith @jdstrillium]

Non-profit housing providers are to the housing system what public hospitals are to the health care system!
Federally, the bureaucracy put risk reduction first - so $$$ goes to big private interests - gov't repayment comes first & housing affordability is down the list...

[National Right to Housing Network @R2HNetwork]

🔔EVENT: Unaffordability is worsening in the private housing market. It's time to use public money for public good & invest in non-market housing.

On #NationalHousingDay, hear from experts on rights-based solutions to scaling up housing supply.

✅RSVP: https://t.co/bBrZwfcWus

[joe deschenes smith @jdstrillium]

Great to have feds lands with affordability goals tied to them but if bureaucrats use the same playbook for housing affordability we won't get the results. @jyduclos @cafreeland

Feds promise to build more homes on public land..https://t.co/bcGMkHWQ6n via @torontostar