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Investors account for 30 per cent of home buying in Canada, data show

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Re: Investors account for 30 per cent of home buying in Canada, data show

#31

Post by jilX »

wredue wrote: post #19
likenesstheft wrote: post #11

Earlier quoted context omitted.

[flagged]

Immigration remained mostly consistent and “definitely not ‘millions’” till last year when it hit 500,000 for some reason: https://www.statista.com/statistics/443063/number-of-immigra... The whole “millions of immigrants” is just a property of the recent alt-right attempt at a take over of HN. Looking around, it appears that immigration rates were raised due to aging population issues. While other places around the w…

I was looking separately and I think I found where the claim comes from: > The federal government's latest immigration levels plan, released last fall, would see Canada welcome 500,000 immigrants annually by 2025. In contrast, the immigration target for 2015 was under 300,000.

Then:

> In 2022, Canada's population grew by more than one million people, a number that included 607,782 non-permanent residents and 437,180 immigrants. https://www.cbc.ca/news/politics/feds-immigration-strategy-s...

Re: Investors account for 30 per cent of home buying in Canada, data show

#32

Post by likenesstheft »

slothtrop wrote: post #17
likenesstheft wrote: post #11

Earlier quoted context omitted.

[flagged]

It should, but the mouth pieces have stuck with their spiel that their own policies can't be helped, are necessary, because of "labor shortages". In other words, horseshit. I think people at the top are positioning themselves because they made large investments and want their return, so the lobbying efforts are to stall the slowing rate of immigration, or anything else that would increase housing starts / availabilit…

Labor shortage is such a lie. when they say that they just mean there aren’t enough low-information workers who will work for meager wages in a high taxation environment in a race to the bottom while some political dynasties always skim from the top. I hope you can all muster up the strength to vote in better leaders who put the citizens first.

Re: Investors account for 30 per cent of home buying in Canada, data show

#33

Post by ozmodiar »

Schiendelman wrote: post #20
bitxbitxbitcoin wrote: post #9

Earlier quoted context omitted.

Almost as if the large companies would like those unable to buy homes to misdirect their ire.

The large companies just don’t account for very many homes. Once you control out for homes under construction, that just isn’t the issue. The issue is that we dramatically restrict how much housing anyone can build, specifically, upward.

The city I live in isn't restricting it. Condos are going up as fast as they can be built and the parks are still filling up with tent cities and rents are still doubling. Something just doesn't add up. I'm in Canada (don't want to give exact city, sorry).

Re: Investors account for 30 per cent of home buying in Canada, data show

#34

Post by chongli »

transcriptase wrote: post #5

[flagged]

I think the solution to this issue is a Henry George-style Land Value Tax (LVT) [1]. Properly implemented, this sort of tax would totally wipe out any returns from buy-and-hold investment in real estate, essentially turning it into a depreciating asset. Holders of unproductive/underproductive real estate would be forced to sell to developers or continue to lose money.

LVT is also nice because it cannot be passed on to tenants in the form of rent increases. Raising rent causes the value of the land to go up with it, leading to higher taxes which claw back all of the gains from the rental increase. If the landlord chooses to continue raising rent to stay ahead of the taxes, this upward spiral will price the property right out of the rental market, leading to high taxes and vacancy, causing the landlord to lose money.

[1] https://en.wikipedia.org/wiki/Land_value_tax

Re: Investors account for 30 per cent of home buying in Canada, data show

#35

Post by bitxbitxbitcoin »

Schiendelman wrote: post #20
bitxbitxbitcoin wrote: post #9

Earlier quoted context omitted.

Almost as if the large companies would like those unable to buy homes to misdirect their ire.

The large companies just don’t account for very many homes. Once you control out for homes under construction, that just isn’t the issue. The issue is that we dramatically restrict how much housing anyone can build, specifically, upward.

Yes that is an issue. There isn’t only one issue. As an extreme illustration, think about trailer homes and trailer parks as an example.[0]

[0] https://www.nytimes.com/2022/03/27/us/mobile-home-park-owner....

Re: Investors account for 30 per cent of home buying in Canada, data show

#36

Post by lokar »

goethes_kind wrote: post #24
newbie578 wrote: post #4

I do wonder what country will be the first one to ‘break’ and implement restrictions on buying homes. The current situation is not sustainable, and soon something will need to give.

Governments should just build a bunch of socialized housing and rent it at a rent just high enough to offset the expenditure (i.e. way below private market value). That would put downward pressure on rents. That is what Vienna did and they are the only popular city in Europe without a serious housing crisis.

No need. Just upzone lots of land and developers will do it for you.

Re: Investors account for 30 per cent of home buying in Canada, data show

#37

Post by likenesstheft »

jilX wrote: post #31
wredue wrote: post #19

Earlier quoted context omitted.

Immigration remained mostly consistent and “definitely not ‘millions’” till last year when it hit 500,000 for some reason: https://www.statista.com/statistics/443063/number-of-immigra... The whole “millions of immigrants” is just a property of the recent alt-right attempt at a take over of HN. Looking around, it appears that immigration rates were raised due to aging population issues. While other places around the w…

I was looking separately and I think I found where the claim comes from: > The federal government's latest immigration levels plan, released last fall, would see Canada welcome 500,000 immigrants annually by 2025. In contrast, the immigration target for 2015 was under 300,000. Then: > In 2022, Canada's population grew by more than one million people, a number that included 607,782 non-permanent residents and 437,180…

That’s a lot of people. Where are all those people going to be housed? Where will the resources for their education and gainful employment come from? Is the Canadian job market exploding with a huge amount of well paying jobs such that Canada’s children have multiple options to pick from, or will everyone be competing for scraps?

Re: Investors account for 30 per cent of home buying in Canada, data show

#38

Post by SamoyedFurFluff »

collaborative wrote: post #23
bugglebeetle wrote: post #12

Earlier quoted context omitted.

If there’s an affordability housing crisis at the level of Canada, where home prices are so wildly out of whack relative to median incomes, it’s IMO entirely reasonable to ban the purchase of investment properties in the single family homes market for anyone . This will never happen because of the political backlash, but housing as a speculative asset is fundamentally insane and corrosive to societies. Housing afford…

A person I know of outstanding moral character (has adopted 3 kids) boasts about voting against any development in his area. I don't know what it'll take for people to see what you are saying

I don’t think people with moral character can be reasonably expected to always have moral views on every subject matter. Not to be political but this is what people mean when they talk about intersectionality. For example a women’s rights advocate might unintentionally exclude disabled women, or be harder on black women they work with than white women for being ghetto or ratchet.

Re: Investors account for 30 per cent of home buying in Canada, data show

#39

Post by ethanbond »

Schiendelman wrote: post #20
bitxbitxbitcoin wrote: post #9

Earlier quoted context omitted.

Almost as if the large companies would like those unable to buy homes to misdirect their ire.

The large companies just don’t account for very many homes. Once you control out for homes under construction, that just isn’t the issue. The issue is that we dramatically restrict how much housing anyone can build, specifically, upward.

Zoning hurts, labor shortage hurts, speculation hurts, sprawl hurts, etc.

We don’t really need to look for a single cause. All of these things are happening and interacting with each other.

Re: Investors account for 30 per cent of home buying in Canada, data show

#40

Post by ecommerceguy »

jilX wrote: post #31
wredue wrote: post #19

Earlier quoted context omitted.

Immigration remained mostly consistent and “definitely not ‘millions’” till last year when it hit 500,000 for some reason: https://www.statista.com/statistics/443063/number-of-immigra... The whole “millions of immigrants” is just a property of the recent alt-right attempt at a take over of HN. Looking around, it appears that immigration rates were raised due to aging population issues. While other places around the w…

I was looking separately and I think I found where the claim comes from: > The federal government's latest immigration levels plan, released last fall, would see Canada welcome 500,000 immigrants annually by 2025. In contrast, the immigration target for 2015 was under 300,000. Then: > In 2022, Canada's population grew by more than one million people, a number that included 607,782 non-permanent residents and 437,180…

"In 2022, Canada’s population grew by an unprecedented 1.1 million people, most of them permanent and temporary immigrants."

From StatCan - The Canadian Census. "alt-right" my ass.

https://www.statcan.gc.ca/o1/en/plus/3861-40-million-strong-...

Your CBC news link 404's.

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