Been renting out a 4 person tent ⛺️ I purchased at CanadianTire for $112 to four foreign students for $2000/person a month. I have never had so much cash flow. Thanks trudeau!
I’m still seeing massive inflation pressures across my industry (heavy civil & mine construction). Some procurement items (ie: transformers) are back out 18-24 months just like during Covid and some are saying even longer. Since my industry produces everything we need (energy, petrochemicals, etc) this will push up the cost of everything else. Don’t even get me started about labour cost pressures for skilled trades. Zero rates cuts in 2024 is what I’m seeing.
and the number of international students doesn't change this or hardly anything else. Its all a smoke screen riling up wimple people against a fake enemy - international students. Dangle this manufactured controversy out there to get people arguing meanwhile no one is talking about things which actually matter. I wonder how much inflation is due to labour shortages. In my field of insurance wages are skyrocketing after 4 decades of stagnation, in large part now the boomers have left the industry and there is not nearly enough people to replace them even after adding in the huge efficiencies made through technology. Too many positions chasing too few people with the needed skills. This is great for individuals but on an aggregate level adds to inflation and housing price inflation as that's a lot more money available to chase the same or few goods.
When you become an MP you sign a contract, in that contract is the obligation to STFU and vote how told by the party, otherwise you will be replaced. They dont listen to their constituents, if you want someone who listens vote for an independent MP.
except that they know we need immigration to keep growing in large part because we dont have enough kids so we need to get other peoples grown kids to come here and have babies. NO party is going to reduce immigration, they are going to precedent to from one category and just hide the numbers in another. Harper used a little know TFWP to blow up the number of international people to helps big corporations like tim hortons, starbucks and suppress wages.
Adding 5 more units on one lot is one thing providing services for these new units is another beast. Did BC government even consider the need for 5 to 6 time more services in one small allay , streets.... Vancouver will soon be unlivable
Also we just massively increased the value of the house/lot. This further helps current owners, how does this help people who cannot get into the market, unless literally thousands a year rebuild which just isn't very likely to happen.
Either way u Slice it population will increase Whether it's 18 people in 4 or 5 seperate units. Or 18 people sharing a whole single family home. Overload on the infrastructure is pretty much the same. It's gonna happen anyway.
It doesn't matter whether interest rates rise or fall, REAL ESTATE IS a GARBAGE ASSET TO HOLD IN CANADA. It is wise to consider other classes of assets. Rent if you can!
People, and mostly people under 50, don't seem to know how to invest. They all seem to think they know RE? I have RE, and over 2019 to 2022 it gave good returns, but my other investments are poised to give me way way better returns right now. Don't get it.
@@Stormshfter it's cultural, Canadians ae obsessed with owning real estate regardless of risk, expected returns, carry costs and transaction costs/possible tax implications (principal residency exemption has to go, we need tax revenue bad). I own RE in 604 but the fact the vast majority of Canadians do not invest outside of their home is mind boggling.
Too bad they don't see that they're willingly becoming debt slaves. There is no upside within the next 5 years to become a landlord either. Taxes and upkeep suck up most of the rent collected, and that's if you get a stable tenant who regularly pays. All of my friends who are investors are for sure not buying anymore and some are selling this spring. We will have a new fed gov next fall also which adds more uncertainty. Risky risky. Finding a good startup company to invest in is way safer.
I had a house with a great Mountain View and no sooner the three small houses in front of me were mowed down and 18 Town houses were built right across the street from me, the only saving grace I had was my house was zoned for multiplex buildings and the land value rose. Many of the old houses have large lots in the GVD and it only takes three houses mowed down to create 18! Townhouses so it's going to be interesting to see what happens with the Changes to R1 zoning in the upcoming years!
Exactly. Like I said earlier. When rates were zero who was asking when rates would rise? Nobody. The reason for all this hyperfocus on rate cuts is the real estate industry won't survive without it. And prices have nowhere to go but down with rates at this point. So. People are talking the book.
@5:26 Steve debunks himself. Steve why don't you overlay house prices on the same chart so people can see that house prices spiked before immigration did?
One conundrum : (START) demographically more people in canada are choosing not to have kids owing to the cost of living (also there is the sentiment that it would be not fair and responsible to bring a child into a world where their less prospects) -> ultimately this creates a talent and a labour shortage -> so government increases immigration targets to correct for this shortfall -> but government at all levels chooses not to change zoning laws that would increase housing stock (because many of them are property investors and no one wants densification in their neighbourhood, ie, no one really wants affordability) -> more people come and then there is more demand on the existing supply of anything -> go back to START => cycle => cycle => cycle ...
It’s important to look at net population increase versus obsessing only on the number of immigrants coming in. Especially when thinking about how many homes we need to build. Canada’s population would be flat/shrinking without immigration. We only need to build for the net increase in population (eg subtracting out all of the people who die each year,, and people who leave for other countries).
@@hill4377 except we cant force anyone out of their homes. The vast majority of people i know, in their 30 s and 40s their parents still live in the houses they grew up in. And why not, moving sucks, the default is just to stick with what ya got plus the house has been making them fortunes in tax free cash for retirement. We're talking houses bought for 200k in the early 90s now worth well over 2 million. The fact its arguably wasteful to heat and maintain just doesn't matter. This generation also much more likely had a DB pension on top of this so this is free money to spend! most of them will still be able to live unassisted when we're retired and at least the kids are moved out.
World events that effect supply chain and oil price stability dictate inflation. The panama canal drought and the fact that the world oversupply of oil will run back to normal by early summer. And of course the US strong job numbers and high CPI. These are all things that effect BOC policy that average people with tunnel vision on Canada's jobs and cpi dont understand
Get in before the bubble goes nuclear...... Boy, that's rich. So the typical spec has an IQ of a marble and hears this and offers 300K over asking... They are jacking you so they can sell theirs.
Why wasnt this an issue during 2020 to 2022? Wasnt that when prices ran up and peaked? These immigrants arent rich and many wont stay. Canada is unafgordable and unliveable for them
I think if we cut rates, hold, or increase depends on the US. Like the #Macroeconomics The cap on international students could be a response to when India in the summer said they were going to ban(?) Indian students, because we accused India of murdering a Canadian-Indian who they said was a terrorist to India and hiding in Canada. So now, Canada is calling their bluff/threat but doesn't want to look discriminatory, so saying it is for housing. Nah, it is so Canada don't look weak on a world stage. Politics. It is not because they actually care about Canadians at all.
Yea the cap should have been like 100k students every year or maybe 200k. Yes i was an international student to canads, no i actually have good grades when i studied here 3.9 gpa to be exact and no i did not go to one of those diploma mill colleges. Its ridiculous where this study thing is now a days.
foreign students up or down isnt going to change anything all sides of the political spectrum know this. Its a talking point the conservatives can try to use against trudeau because the conservative base is simple and its going to rile them up. The liberals have no problem giving in and saying hey look we did something because it changes nothing. Previous cons under harper loved immigration, they created a massive work around using the temp foreign worker program designed for farm labour to flood unskilled labour in to help their corporate friends by suppressing wages. Neither liberals no conservatives are about helping the little guy, both are absolutely about helping big corporations and wealthy Canadians. I dont even think the modern NDP is particularly about helping the little guy although probably more so that the blue and reds.
One could make the argument that the late date this cap will come into effect will actually have opposite intended effect: international students rushing in to come before the fall semester when rules are in place which will drive a surge in numbers of people wanting to get in now rather than later and consequently upper pressure in inflation in the short term (next couple of intakes, or six months).
Totally wrong. As of January 22, international students must submit an attestation letter from.the province or Canadian territory where they are going to be studying. No province is currently issuing such letters except Quebec. The mechanism is not in place until late March or April. Without this letter no study permit application will be accepted. Next time do a google search before making things up
@@Observer168 this is just selling visas since the only reason they're coming here is to live here, not because our schools are so great. Sure an immediate cash influx, but short term thinking.
This action was taken when all services started to halt and hue and cry from all sections of the society. The strong economy can never depend on one sector rather than diversified. A lesson should be taken from bad decisions taken in past.
we dont learn from the past people we vote in politicians and they need to keep us having with fancy sounding ideas that wont do anything. Things that actually work rarely are exciting. We vote in this party then eventually they piss off enough people to get voted out and we put some party that is a little different in who goes back on half the stuff the other one was trying to do. Super inefficient. Lucky for us behind the scenes most of the work isnt political at all and is just being done regardless of who is in power. but man do we argue about some of the dumbest stuff that has little to do with anything.
@@HaydonAshurstFamily It would be self serving to WANT a rate cut as many overburdened household need it. What we NEED is to HIKE rates for next 3 three years.
@@HaydonAshurstFamily honestly it doesn’t matter to me. I have a home, small mortgage, stocks and bonds. So whatever happens I’m fine. I’m just hoping for the best outcome for our country and economy. And I think keeping interest rates where they are for awhile would makes sense.
Your theory on Forward guidance doesn't hold water. They told everyone rates would be low forever. And I don't recall media asking when rates are going to go up. The reality is news, realtors, etc all depend on zero rates to survive. And those days are gone. So like a heroin junky you are going to get the non stop silly questions. Btw the 5 year bond blew out to the top last week. Now over 0.5% higher than the low. So. Expect rates to go up next week.
Rates being low for so long before had limited consequences until they started to build. There is starting to be a lot of social pressure than housing only going up is leaving more and more behind and more and more who actually vote. A lot of people say they want to help with the housing crisis until you tell them what this actually means. you tell this ok we're going to knock off 40-50% off your houses value, suddenly they are not keen at all. If we did do this, spending in the economy would crash, massive recession. The lessor of evils as i see it is just stagnate housing prices, try to not let them inflate no crash. People who own their primary residence can mostly be fine with this. People who own secondary places will slowly figure out there are better areas to invest their money and move on. If they do this slowly it wont be a flood on the market. Is this is best solution long term? Prob not but its the least disruptive to the most people now so least bad for politicians.
Tiff is setting the stage for more inflation. Due to Tiff's own words, he said it is about how long he will hold rates, meaning, we are at an interest rate ceiling. Options are hold or lower. Now we have expectations they won't go up, leading to inflation expectations. [Edit: depending on where you live and long term goals] Owning is much better financially than renting. This is also causing demand.
@@donm2067 and 10 years before that and 10 years before that. its not like this hasnt been pretty much a constant since the 70s or earlier even. We've had absolutely massive leaps in technology and how ordinary people live their lives. The global players have changed significant as well.
@@RainCity3rd it's all good. Those who don't understand it, never will. Don't get me wrong, the only constant is change, but our trajectory is downward while Muppets claim upwards. Now we're just a Willie coyote cartoon.
@@donm2067 We'd have to first agree on what the measure is of downwards or upwards... of what? IF we look at gdp per capita this is down. The best times were many years ago when we had manufacturing and much less globalization. The world was changing with or without us though, its not like we could have just skipped free trade, we would have still be completely left behind and i would argue worse off. Wealthy people are for sure better off. Poor people its hard to say, while there are more below the poverty line a great many people who are poor still have fancy things such as cell phones, fancy tvs and other things even a decade ago was a luxury. The lower middle class while very often living paycheck to paycheck (often so are middle and even very high income earners) live with a lot of things i would still argue are luxuries. It is scary how many are living in fairly precarious positions more than ever BUT also on a day to day basis i would also argue we live pretty well in many senses.
Single family homes are not practical for many '3rd world' immigrants. There are many obvious reasons but one aspect not discussed is that culturally they have limited experience with landscape maintenance and Canadian plant knowledge. I have had customers ask why the leaves were falling off of their maple tree in Oct! The properties often look derelict and the value is diminished. Strata titled properties where professional maintenance is employed provides an overall benefit to civil society at large.
rather broad brush comments. Most will figure out the less than complicated different plants and its not as if there are not tons of born in Canada folks who dont maintain their yard which who cares but even their houses. People from other cultures born here or not are more likely to live in multi generational houses which Canadians were doing until about ww1 and especially by ww2 we changed in north America. It was not that long ago we were very similar in many ways. Living in ever larger houses with ever smaller family sizes is the outlier. What we have been doing since ww2 is what is weird. With current prices more and more families are raising kids in apartments like pretty much most of the rest of the world. it is not some grand disaster.
international student numbers is a massive scape goat for everyone involved. The numbers dont matter but its an issue to rate up conservatives. The liberals have no problem looking like they are doing something. Meanwhile nothing actually changes for housing affordability. Reality is The vast majority of people dont actually want to help with housing affordability as this means knocking off 40-50% or more of their homes value. Absolute non starter for most people especially older and more affluent who are much more likely to own AND who are much more likely to vote. Housing affordability helps a lot fewer people that it hurts in the short term. The people who it helps ( those who dont yet own) are also the more vulnerable to losing their employment in the massive recession which would result/ be the cause of such a housing price crash. What most people want is price stability. This hurts the least people in the shorter term than either a continued run up in prices or a massive crash.
Most of the international students specially coming from poor countries compete in the rental market with Canadians and also do cash jobs under the table as most of them are fake students. They just come here to make money as there are not many opportunities in their native countries. So yea it does matter
*Thanks for continuing updates 👍🏻 I'd rather trade the stock market as it's more profitable. I make an average of $25,500 per week even though I barely trade myself.*
Most people are retiring this year and has nothing to show for. But I assure you it’s never late to get your financial life together again.. All thanks to Eleanor Nelson for I and my family
It’s high time I get connect with Eleanor Nelson. I have heard a lot of testimonies about her and also see few of her interviews on the internet and CNBC
Charging 20k-30k annually for a study permit would work better than a cap. The government should charge 20k-30k annually for a study permit. It would bring in billions to help with infrastructure and services. Canadians are already taxed to death for these services. International students add billions to our economy but the services that they use shouldn’t be subsidized by Canadian tax payers. The government doesn’t even blink an eye when raising our property taxes which adds more burden to Canadian home owners. The billions from this program can be used to upgrade our hospitals, modernize rapid transit, affordable housing and hire more doctors, nurses and teachers.
You don't get it. We don't need money. Money is overburdening our economy with inefficiencies. We need LESS money, LESS taxes, and MORE deregulation. That will bring CAPITAL to invest in factories, tech sectors and industries that are now heading to USA.
@@JK-qn9qr we absolutely need more money. All our services are over extended and infrastructure is aging. Factories in Canada could never compete with factories in China, India, Mexico and Vietnam unless for very high end goods. We will never have a tech sector like the USA without billions in government funding and many Canadian funded companies end up flopping like Nortel and Research in motion… do you remember them? Canada has some very talented people but can’t compare with the USA. Go count the number of universities in the top 100 in the world from the USA compared to Canada. Simply no comparison!!! The USA churns out extremely talented engineers and the only country that can challenge USA in technology in the future is China. 1 University of Oxford United Kingdom 2 Harvard University United States =3 University of Cambridge United Kingdom =3 Stanford University United States 5 Massachusetts Institute of Technology United States 6 California Institute of Technology United States 7 Princeton University United States 8 University of California, Berkeley United States 9 Yale University United States 10 Imperial College London United Kingdom =11 Columbia University United States =11 ETH Zurich Switzerland 13 The University of Chicago United States 14 University of Pennsylvania United States 15 Johns Hopkins University United States 16 Tsinghua University China 17 Peking University China 18 University of Toronto Canada 19 National University of Singapore Singapore 20 Cornell University United States 21 University of California, Los Angeles United States 22 UCL United Kingdom 23 University of Michigan-Ann Arbor United States 24 New York University United States 25 Duke University United States =26 Northwestern University United States =26 University of Washington United States 28 Carnegie Mellon University United States 29 University of Edinburgh United Kingdom 30 Technical University of Munich Germany 31 University of Hong Kong Hong Kong 32 University of California, San Diego United States 33 LMU Munich Germany 34 University of Melbourne Australia 35 King’s College London United Kingdom 36 Nanyang Technological University, Singapore Singapore 37 London School of Economics and Political Science United Kingdom 38 Georgia Institute of Technology United States 39 The University of Tokyo Japan 40 University of British Columbia Canada 41 École Polytechnique Fédérale de Lausanne Switzerland 42 KU Leuven Belgium 43 Universität Heidelberg Germany 44 Monash University Australia 45 Chinese University of Hong Kong Hong Kong 46 McGill University Canada 47 Paris Sciences et Lettres - PSL Research University Paris France 48 University of Illinois at Urbana-Champaign United States 49 Karolinska Institute Sweden 50 University of Texas at Austin United States 51 Fudan University China 52 Shanghai Jiao Tong University China 53 The University of Queensland Australia =54 University of Manchester United Kingdom =54 The University of Sydney Australia 56 Seoul National University South Korea 57 Washington University in St Louis United States 58 The Hong Kong University of Science and Technology Hong Kong 59 Wageningen University & Research Netherlands 60 University of Amsterdam Netherlands 61 Brown University United States 62 Australian National University Australia 63 University of California, Davis United States 64 University of California, Santa Barbara United States 65 University of Southern California United States 66 Utrecht University Netherlands 67 Zhejiang University China 68 Kyoto University Japan 69 University of North Carolina at Chapel Hill United States 70 Delft University of Technology Netherlands =71 Boston University United States =71 UNSW Sydney Australia 73 Charité - Universitätsmedizin Berlin Germany 74 University of Science and Technology of China China 75 University of Groningen Netherlands 76 University of Bristol United Kingdom 77 Leiden University Netherlands 78 Yonsei University (Seoul campus) South Korea 79 The Hong Kong Polytechnic University Hong Kong 80 Erasmus University Rotterdam Netherlands 81 University of Wisconsin-Madison United States =82 Emory University United States =82 University of Glasgow United Kingdom =82 University of Zurich Switzerland 85 McMaster University Canada =86 Humboldt University of Berlin Germany =86 University of Tübingen Germany 88 University of Adelaide Australia 89 University of Bonn Germany 90 Sorbonne University France =91 Free University of Berlin Germany =91 Korea Advanced Institute of Science and Technology (KAIST) South Korea 93 Université Paris-Saclay France 94 University of Bern Switzerland =95 University of California, Irvine United States =95 Institut Polytechnique de Paris France =95 Nanjing University China 98 Vanderbilt University United States =99 City University of Hong Kong Hong Kong =99 RWTH Aachen University Germany
Charging international students $20k - $30k annually after international students pay significant tuition annually will lead to no more international students coming to Canada. Make no mistake, colleges and universities need international students to stay open. Canadian students pay next to nothing and cannot sustain these learning institutions. Your suggestion will never fly.
Many of these international students are from very wealthy families. You are under estimating the amount of money that people will pay for Canadian citizenship which is their main goal. There are millions of people in China, India and Russia that will gladly pay hundreds of thousands for a Canadian passport. A EB-5 Residency in the USA cost 900k USD… you can buy citizenship in many smaller countries and they also cost hundreds of thousands of dollars. United States $900,000 EB-5 Residency Turkey $400,000 Citizenship Cyprus €300,000 Residency Malta €600,000 Citizenship Canadian citizenship is not for sale but it’s worth at least a million dollars.
What Canada needs to do is look past immigration and real estate as a methodology to increase the GDP. It's getting ridiculous. It's like people have forgotten how an actual economy is supposed to work. ffs you can't grow and sustain an economy by bringing in random immigrants and jacking up your real estate prices.
I was confused too and didn't have very strong conviction. A few months ago I was thinking that the fed will make a policy error by cutting rates too quickly. After that all the economists started echoing a similar sentiment starting with rosenberg. As soon as everyone was expecting rapid cuts, I knew I would be wrong as most consensus predictions are. I regained my strong conviction from one simple example and by taking a common sense approach. All I had to do was learn from Canada's failed panic pause. I look at the US consumers and see that they are in a much stronger economic position than Canadians were during the initial stages of the pause. If a pause was enough to loosen financial conditions that much due to speculators front running cuts... What do you think will happen to financial conditions if the US was to cut? The answer is simple, I expect the data to remain hot in the US while economists are baffled by how stubborn inflation is. Powell will repeat Tiff's mistake no doubt. Rosenberg will eventually be right but he is early, and he has been calling for a crash for over a year. Imagine the stock gains you would have missed out on by listening to rosenberg. That being said I expect the S&P 500 to keep melting up to 6000. Markets love to climb the wall of worry while scared money hides on the sidelines. Contrary to what many believe, markets won't sell off until we get cuts. A lot of the stuff is just noise to confuse and misdirect people. It's actually really simple.
Been renting out a 4 person tent ⛺️ I purchased at CanadianTire for $112 to four foreign students for $2000/person a month. I have never had so much cash flow. Thanks trudeau!
I’m still seeing massive inflation pressures across my industry (heavy civil & mine construction). Some procurement items (ie: transformers) are back out 18-24 months just like during Covid and some are saying even longer. Since my industry produces everything we need (energy, petrochemicals, etc) this will push up the cost of everything else. Don’t even get me started about labour cost pressures for skilled trades. Zero rates cuts in 2024 is what I’m seeing.
I am in heavy manufacturing. We are seeing the same. Steel prices going back up. And container rates just went up 130% month on month
and the number of international students doesn't change this or hardly anything else. Its all a smoke screen riling up wimple people against a fake enemy - international students. Dangle this manufactured controversy out there to get people arguing meanwhile no one is talking about things which actually matter.
I wonder how much inflation is due to labour shortages. In my field of insurance wages are skyrocketing after 4 decades of stagnation, in large part now the boomers have left the industry and there is not nearly enough people to replace them even after adding in the huge efficiencies made through technology. Too many positions chasing too few people with the needed skills. This is great for individuals but on an aggregate level adds to inflation and housing price inflation as that's a lot more money available to chase the same or few goods.
Talk to your MPs, ask them to lower immigration numbers further. We need time to absorb the huge numbers that have already come.
When you become an MP you sign a contract, in that contract is the obligation to STFU and vote how told by the party, otherwise you will be replaced. They dont listen to their constituents, if you want someone who listens vote for an independent MP.
Just charge 20k-30k annually for each student permit. Would bring billions into our aging infrastructure.
except that they know we need immigration to keep growing in large part because we dont have enough kids so we need to get other peoples grown kids to come here and have babies. NO party is going to reduce immigration, they are going to precedent to from one category and just hide the numbers in another. Harper used a little know TFWP to blow up the number of international people to helps big corporations like tim hortons, starbucks and suppress wages.
Adding 5 more units on one lot is one thing providing services for these new units is another beast. Did BC government even consider the need for 5 to 6 time more services in one small allay , streets.... Vancouver will soon be unlivable
Also we just massively increased the value of the house/lot. This further helps current owners, how does this help people who cannot get into the market, unless literally thousands a year rebuild which just isn't very likely to happen.
Either way u Slice it population will increase
Whether it's 18 people in 4 or 5 seperate units.
Or 18 people sharing a whole single family home.
Overload on the infrastructure is pretty much the same.
It's gonna happen anyway.
I'm sure glad I own way too many SFHs in cities that fall into this new category.
I'm sure glad I own way too many SFHs in cities that fall into this new category.
I'm sure glad I own way too many SFHs in cities that fall into this new category.
It doesn't matter whether interest rates rise or fall, REAL ESTATE IS a GARBAGE ASSET TO HOLD IN CANADA. It is wise to consider other classes of assets. Rent if you can!
People, and mostly people under 50, don't seem to know how to invest. They all seem to think they know RE?
I have RE, and over 2019 to 2022 it gave good returns, but my other investments are poised to give me way way better returns right now.
Don't get it.
@@Stormshfter it's cultural, Canadians ae obsessed with owning real estate regardless of risk, expected returns, carry costs and transaction costs/possible tax implications (principal residency exemption has to go, we need tax revenue bad). I own RE in 604 but the fact the vast majority of Canadians do not invest outside of their home is mind boggling.
Too bad they don't see that they're willingly becoming debt slaves.
There is no upside within the next 5 years to become a landlord either.
Taxes and upkeep suck up most of the rent collected, and that's if you get a stable tenant who regularly pays.
All of my friends who are investors are for sure not buying anymore and some are selling this spring.
We will have a new fed gov next fall also which adds more uncertainty.
Risky risky.
Finding a good startup company to invest in is way safer.
Need more interest hike with immigration stop
I'm currently renting out my van and car to foreign students for $500 a month. Livin the life, thanks foreign immigration boom!!!
Lol😂
Tuition is around 70k per year not including living expenses. Many students come from wealthy families.
lolz, not for people that a particular country. @@Observer168
I had a house with a great Mountain View and no sooner the three small houses in front of me were mowed down and 18 Town houses were built right across the street from me, the only saving grace I had was my house was zoned for multiplex buildings and the land value rose. Many of the old houses have large lots in the GVD and it only takes three houses mowed down to create 18! Townhouses so it's going to be interesting to see what happens with the Changes to R1 zoning in the upcoming years!
No rate cuts will happen in the first half of the year. Maybe at the end of 2024. Or, even in 2025
Exactly. Like I said earlier. When rates were zero who was asking when rates would rise? Nobody. The reason for all this hyperfocus on rate cuts is the real estate industry won't survive without it. And prices have nowhere to go but down with rates at this point. So. People are talking the book.
As The Old Man Steps Outside Of His Little house On A Prairie
He Sees A Beautiful Wildrose Growing In The Field!
@5:26 Steve debunks himself.
Steve why don't you overlay house prices on the same chart so people can see that house prices spiked before immigration did?
I been talking about this shit since 2017, where's my government salary for seeing the obvious?
I hope rates go up. I need the retirement income
One conundrum : (START) demographically more people in canada are choosing not to have kids owing to the cost of living (also there is the sentiment that it would be not fair and responsible to bring a child into a world where their less prospects) -> ultimately this creates a talent and a labour shortage -> so government increases immigration targets to correct for this shortfall -> but government at all levels chooses not to change zoning laws that would increase housing stock (because many of them are property investors and no one wants densification in their neighbourhood, ie, no one really wants affordability) -> more people come and then there is more demand on the existing supply of anything -> go back to START => cycle => cycle => cycle ...
I can’t wait for the BOC to cut rates 0.25 to become a home owner
funny man
You will my friend. I know you will
It’s important to look at net population increase versus obsessing only on the number of immigrants coming in. Especially when thinking about how many homes we need to build. Canada’s population would be flat/shrinking without immigration. We only need to build for the net increase in population (eg subtracting out all of the people who die each year,, and people who leave for other countries).
Exactly. Then add in the percentage of baby boomers closing in on 70 who are sitting in 5 bedroom houses. Often alone.
@@hill4377 except we cant force anyone out of their homes. The vast majority of people i know, in their 30 s and 40s their parents still live in the houses they grew up in. And why not, moving sucks, the default is just to stick with what ya got plus the house has been making them fortunes in tax free cash for retirement. We're talking houses bought for 200k in the early 90s now worth well over 2 million. The fact its arguably wasteful to heat and maintain just doesn't matter. This generation also much more likely had a DB pension on top of this so this is free money to spend! most of them will still be able to live unassisted when we're retired and at least the kids are moved out.
World events that effect supply chain and oil price stability dictate inflation.
The panama canal drought and the fact that the world oversupply of oil will run back to normal by early summer.
And of course the US strong job numbers and high CPI.
These are all things that effect BOC policy that average people with tunnel vision on Canada's jobs and cpi dont understand
Get in before the bubble goes nuclear......
Boy, that's rich. So the typical spec has an IQ of a marble and hears this and offers 300K over asking... They are jacking you so they can sell theirs.
Why wasnt this an issue during 2020 to 2022? Wasnt that when prices ran up and peaked? These immigrants arent rich and many wont stay. Canada is unafgordable and unliveable for them
I think if we cut rates, hold, or increase depends on the US. Like the #Macroeconomics
The cap on international students could be a response to when India in the summer said they were going to ban(?) Indian students, because we accused India of murdering a Canadian-Indian who they said was a terrorist to India and hiding in Canada. So now, Canada is calling their bluff/threat but doesn't want to look discriminatory, so saying it is for housing. Nah, it is so Canada don't look weak on a world stage. Politics. It is not because they actually care about Canadians at all.
The foreign student cap is going to help a lot.
It's not capped aggressively enough.
Also, do most current foreign "students " leave when their visas run out, or do they stay?
Yea the cap should have been like 100k students every year or maybe 200k. Yes i was an international student to canads, no i actually have good grades when i studied here 3.9 gpa to be exact and no i did not go to one of those diploma mill colleges. Its ridiculous where this study thing is now a days.
Charging 20k-30k annually for a study permit would work better than a cap.
foreign students up or down isnt going to change anything all sides of the political spectrum know this. Its a talking point the conservatives can try to use against trudeau because the conservative base is simple and its going to rile them up. The liberals have no problem giving in and saying hey look we did something because it changes nothing. Previous cons under harper loved immigration, they created a massive work around using the temp foreign worker program designed for farm labour to flood unskilled labour in to help their corporate friends by suppressing wages. Neither liberals no conservatives are about helping the little guy, both are absolutely about helping big corporations and wealthy Canadians. I dont even think the modern NDP is particularly about helping the little guy although probably more so that the blue and reds.
One could make the argument that the late date this cap will come into effect will actually have opposite intended effect: international students rushing in to come before the fall semester when rules are in place which will drive a surge in numbers of people wanting to get in now rather than later and consequently upper pressure in inflation in the short term (next couple of intakes, or six months).
You could be right or wrong but at least you are using your critical thinking skills. That is rare to see in Canada.
Don’t need to cap, just charge 20k-30k for study permits.
Totally wrong. As of January 22, international students must submit an attestation letter from.the province or Canadian territory where they are going to be studying. No province is currently issuing such letters except Quebec. The mechanism is not in place until late March or April. Without this letter no study permit application will be accepted. Next time do a google search before making things up
@@Observer168 this is just selling visas since the only reason they're coming here is to live here, not because our schools are so great. Sure an immediate cash influx, but short term thinking.
@@m.b5777 wow, aggressive much?
Boomers are retiring ans taking their capital with them. Cost of capital will keep going up. Maybe double from here.
Many Boomers will be passing down wealth (real estate, stocks) to their offspring.
Canada always lag behind Australia and UK in capping stuff 🙄🙄
Canada, Australia and the Uk all belong to the crown
Your mic sounds a little weird today
It's the acoustics in that room.
A Recession will occur after the president reality show. Rates will drop slowly 🐌 in June.
I'm sensing a new microphone
This action was taken when all services started to halt and hue and cry from all sections of the society. The strong economy can never depend on one sector rather than diversified. A lesson should be taken from bad decisions taken in past.
we dont learn from the past people we vote in politicians and they need to keep us having with fancy sounding ideas that wont do anything. Things that actually work rarely are exciting. We vote in this party then eventually they piss off enough people to get voted out and we put some party that is a little different in who goes back on half the stuff the other one was trying to do. Super inefficient. Lucky for us behind the scenes most of the work isnt political at all and is just being done regardless of who is in power. but man do we argue about some of the dumbest stuff that has little to do with anything.
Just another ploy to calm plebs
I don’t think rates are going down any time soon.
A self serving wish no doubt? Lol
@@HaydonAshurstFamily It would be self serving to WANT a rate cut as many overburdened household need it. What we NEED is to HIKE rates for next 3 three years.
@@HaydonAshurstFamily honestly it doesn’t matter to me. I have a home, small mortgage, stocks and bonds. So whatever happens I’m fine. I’m just hoping for the best outcome for our country and economy. And I think keeping interest rates where they are for awhile would makes sense.
@@JK-qn9qrwhat you are smoking ?
Can I get few ? 😂
@@itzzzzi2 yeah, it's called reality.
P low wages help industry
“Student”
Your theory on Forward guidance doesn't hold water. They told everyone rates would be low forever. And I don't recall media asking when rates are going to go up. The reality is news, realtors, etc all depend on zero rates to survive. And those days are gone. So like a heroin junky you are going to get the non stop silly questions. Btw the 5 year bond blew out to the top last week. Now over 0.5% higher than the low. So. Expect rates to go up next week.
Rates being low for so long before had limited consequences until they started to build. There is starting to be a lot of social pressure than housing only going up is leaving more and more behind and more and more who actually vote. A lot of people say they want to help with the housing crisis until you tell them what this actually means. you tell this ok we're going to knock off 40-50% off your houses value, suddenly they are not keen at all. If we did do this, spending in the economy would crash, massive recession. The lessor of evils as i see it is just stagnate housing prices, try to not let them inflate no crash. People who own their primary residence can mostly be fine with this. People who own secondary places will slowly figure out there are better areas to invest their money and move on. If they do this slowly it wont be a flood on the market. Is this is best solution long term? Prob not but its the least disruptive to the most people now so least bad for politicians.
I woder what the foreign student actual numbers after the 35% cut compared to actual numbers pre covid?
Tiff is setting the stage for more inflation.
Due to Tiff's own words, he said it is about how long he will hold rates, meaning, we are at an interest rate ceiling.
Options are hold or lower.
Now we have expectations they won't go up, leading to inflation expectations.
[Edit: depending on where you live and long term goals] Owning is much better financially than renting. This is also causing demand.
Owning is not better than renting, it all depends on where you are in the market cycle. Right now it less expensive and less risk to rent.
Owning is not better than renting. In some cases it may be. But often it is not.
Federal government needs disbanding Canada unrecognizable in 10yrs
Its unrecognizable from 10 years ago already
@@donm2067 and 10 years before that and 10 years before that. its not like this hasnt been pretty much a constant since the 70s or earlier even. We've had absolutely massive leaps in technology and how ordinary people live their lives. The global players have changed significant as well.
@@RainCity3rd it's all good. Those who don't understand it, never will.
Don't get me wrong, the only constant is change, but our trajectory is downward while Muppets claim upwards.
Now we're just a Willie coyote cartoon.
@@donm2067 We'd have to first agree on what the measure is of downwards or upwards... of what? IF we look at gdp per capita this is down. The best times were many years ago when we had manufacturing and much less globalization. The world was changing with or without us though, its not like we could have just skipped free trade, we would have still be completely left behind and i would argue worse off. Wealthy people are for sure better off. Poor people its hard to say, while there are more below the poverty line a great many people who are poor still have fancy things such as cell phones, fancy tvs and other things even a decade ago was a luxury. The lower middle class while very often living paycheck to paycheck (often so are middle and even very high income earners) live with a lot of things i would still argue are luxuries. It is scary how many are living in fairly precarious positions more than ever BUT also on a day to day basis i would also argue we live pretty well in many senses.
Single family homes are not practical for many '3rd world' immigrants. There are many obvious reasons but one aspect not discussed is that culturally they have limited experience with landscape maintenance and Canadian plant knowledge. I have had customers ask why the leaves were falling off of their maple tree in Oct! The properties often look derelict and the value is diminished. Strata titled properties where professional maintenance is employed provides an overall benefit to civil society at large.
rather broad brush comments. Most will figure out the less than complicated different plants and its not as if there are not tons of born in Canada folks who dont maintain their yard which who cares but even their houses. People from other cultures born here or not are more likely to live in multi generational houses which Canadians were doing until about ww1 and especially by ww2 we changed in north America. It was not that long ago we were very similar in many ways. Living in ever larger houses with ever smaller family sizes is the outlier. What we have been doing since ww2 is what is weird. With current prices more and more families are raising kids in apartments like pretty much most of the rest of the world. it is not some grand disaster.
international student numbers is a massive scape goat for everyone involved. The numbers dont matter but its an issue to rate up conservatives. The liberals have no problem looking like they are doing something. Meanwhile nothing actually changes for housing affordability. Reality is The vast majority of people dont actually want to help with housing affordability as this means knocking off 40-50% or more of their homes value. Absolute non starter for most people especially older and more affluent who are much more likely to own AND who are much more likely to vote. Housing affordability helps a lot fewer people that it hurts in the short term. The people who it helps ( those who dont yet own) are also the more vulnerable to losing their employment in the massive recession which would result/ be the cause of such a housing price crash. What most people want is price stability. This hurts the least people in the shorter term than either a continued run up in prices or a massive crash.
Most of the international students specially coming from poor countries compete in the rental market with Canadians and also do cash jobs under the table as most of them are fake students. They just come here to make money as there are not many opportunities in their native countries. So yea it does matter
*Thanks for continuing updates 👍🏻 I'd rather trade the stock market as it's more profitable. I make an average of $25,500 per week even though I barely trade myself.*
I’m 52years and I’m retiring this 2024 I already secured my financial position for the past 2years from Eleanor
Most people are retiring this year and has nothing to show for. But I assure you it’s never late to get your financial life together again.. All thanks to Eleanor Nelson for I and my family
Yeah, 253k from Eleanor Nelson, looking up to acquire a new House, blessings.
It’s high time I get connect with Eleanor Nelson. I have heard a lot of testimonies about her and also see few of her interviews on the internet and CNBC
Charging 20k-30k annually for a study permit would work better than a cap.
The government should charge 20k-30k annually for a study permit. It would bring in billions to help with infrastructure and services. Canadians are already taxed to death for these services. International students add billions to our economy but the services that they use shouldn’t be subsidized by Canadian tax payers.
The government doesn’t even blink an eye when raising our property taxes which adds more burden to Canadian home owners.
The billions from this program can be used to upgrade our hospitals, modernize rapid transit, affordable housing and hire more doctors, nurses and teachers.
You don't get it. We don't need money. Money is overburdening our economy with inefficiencies. We need LESS money, LESS taxes, and MORE deregulation. That will bring CAPITAL to invest in factories, tech sectors and industries that are now heading to USA.
@@JK-qn9qr we absolutely need more money. All our services are over extended and infrastructure is aging.
Factories in Canada could never compete with factories in China, India, Mexico and Vietnam unless for very high end goods.
We will never have a tech sector like the USA without billions in government funding and many Canadian funded companies end up flopping like Nortel and Research in motion… do you remember them?
Canada has some very talented people but can’t compare with the USA. Go count the number of universities in the top 100 in the world from the USA compared to Canada. Simply no comparison!!! The USA churns out extremely talented engineers and the only country that can challenge USA in technology in the future is China.
1 University of Oxford
United Kingdom
2 Harvard University
United States
=3 University of Cambridge
United Kingdom
=3 Stanford University
United States
5 Massachusetts Institute of Technology
United States
6 California Institute of Technology
United States
7 Princeton University
United States
8 University of California, Berkeley
United States
9 Yale University
United States
10 Imperial College London
United Kingdom
=11 Columbia University
United States
=11 ETH Zurich
Switzerland
13 The University of Chicago
United States
14 University of Pennsylvania
United States
15 Johns Hopkins University
United States
16 Tsinghua University
China
17 Peking University
China
18 University of Toronto
Canada
19 National University of Singapore
Singapore
20 Cornell University
United States
21 University of California, Los Angeles
United States
22 UCL
United Kingdom
23 University of Michigan-Ann Arbor
United States
24 New York University
United States
25 Duke University
United States
=26 Northwestern University
United States
=26 University of Washington
United States
28 Carnegie Mellon University
United States
29 University of Edinburgh
United Kingdom
30 Technical University of Munich
Germany
31 University of Hong Kong
Hong Kong
32 University of California, San Diego
United States
33 LMU Munich
Germany
34 University of Melbourne
Australia
35 King’s College London
United Kingdom
36 Nanyang Technological University, Singapore
Singapore
37 London School of Economics and Political Science
United Kingdom
38 Georgia Institute of Technology
United States
39 The University of Tokyo
Japan
40 University of British Columbia
Canada
41 École Polytechnique Fédérale de Lausanne
Switzerland
42 KU Leuven
Belgium
43 Universität Heidelberg
Germany
44 Monash University
Australia
45 Chinese University of Hong Kong
Hong Kong
46 McGill University
Canada
47 Paris Sciences et Lettres - PSL Research University Paris
France
48 University of Illinois at Urbana-Champaign
United States
49 Karolinska Institute
Sweden
50 University of Texas at Austin
United States
51 Fudan University
China
52 Shanghai Jiao Tong University
China
53 The University of Queensland
Australia
=54 University of Manchester
United Kingdom
=54 The University of Sydney
Australia
56 Seoul National University
South Korea
57 Washington University in St Louis
United States
58 The Hong Kong University of Science and Technology
Hong Kong
59 Wageningen University & Research
Netherlands
60 University of Amsterdam
Netherlands
61 Brown University
United States
62 Australian National University
Australia
63 University of California, Davis
United States
64 University of California, Santa Barbara
United States
65 University of Southern California
United States
66 Utrecht University
Netherlands
67 Zhejiang University
China
68 Kyoto University
Japan
69 University of North Carolina at Chapel Hill
United States
70 Delft University of Technology
Netherlands
=71 Boston University
United States
=71 UNSW Sydney
Australia
73 Charité - Universitätsmedizin Berlin
Germany
74 University of Science and Technology of China
China
75 University of Groningen
Netherlands
76 University of Bristol
United Kingdom
77 Leiden University
Netherlands
78 Yonsei University (Seoul campus)
South Korea
79 The Hong Kong Polytechnic University
Hong Kong
80 Erasmus University Rotterdam
Netherlands
81 University of Wisconsin-Madison
United States
=82 Emory University
United States
=82 University of Glasgow
United Kingdom
=82 University of Zurich
Switzerland
85 McMaster University
Canada
=86 Humboldt University of Berlin
Germany
=86 University of Tübingen
Germany
88 University of Adelaide
Australia
89 University of Bonn
Germany
90 Sorbonne University
France
=91 Free University of Berlin
Germany
=91 Korea Advanced Institute of Science and Technology (KAIST)
South Korea
93 Université Paris-Saclay
France
94 University of Bern
Switzerland
=95 University of California, Irvine
United States
=95 Institut Polytechnique de Paris
France
=95 Nanjing University
China
98 Vanderbilt University
United States
=99 City University of Hong Kong
Hong Kong
=99 RWTH Aachen University
Germany
Charging international students $20k - $30k annually after international students pay significant tuition annually will lead to no more international students coming to Canada. Make no mistake, colleges and universities need international students to stay open. Canadian students pay next to nothing and cannot sustain these learning institutions. Your suggestion will never fly.
Many of these international students are from very wealthy families. You are under estimating the amount of money that people will pay for Canadian citizenship which is their main goal. There are millions of people in China, India and Russia that will gladly pay hundreds of thousands for a Canadian passport.
A EB-5 Residency in the USA cost 900k USD… you can buy citizenship in many smaller countries and they also cost hundreds of thousands of dollars.
United States $900,000 EB-5 Residency
Turkey $400,000 Citizenship
Cyprus €300,000 Residency
Malta €600,000 Citizenship
Canadian citizenship is not for sale but it’s worth at least a million dollars.
What Canada needs to do is look past immigration and real estate as a methodology to increase the GDP. It's getting ridiculous. It's like people have forgotten how an actual economy is supposed to work. ffs you can't grow and sustain an economy by bringing in random immigrants and jacking up your real estate prices.
I was confused too and didn't have very strong conviction. A few months ago I was thinking that the fed will make a policy error by cutting rates too quickly. After that all the economists started echoing a similar sentiment starting with rosenberg. As soon as everyone was expecting rapid cuts, I knew I would be wrong as most consensus predictions are.
I regained my strong conviction from one simple example and by taking a common sense approach. All I had to do was learn from Canada's failed panic pause. I look at the US consumers and see that they are in a much stronger economic position than Canadians were during the initial stages of the pause. If a pause was enough to loosen financial conditions that much due to speculators front running cuts... What do you think will happen to financial conditions if the US was to cut? The answer is simple, I expect the data to remain hot in the US while economists are baffled by how stubborn inflation is. Powell will repeat Tiff's mistake no doubt.
Rosenberg will eventually be right but he is early, and he has been calling for a crash for over a year. Imagine the stock gains you would have missed out on by listening to rosenberg. That being said I expect the S&P 500 to keep melting up to 6000. Markets love to climb the wall of worry while scared money hides on the sidelines. Contrary to what many believe, markets won't sell off until we get cuts.
A lot of the stuff is just noise to confuse and misdirect people. It's actually really simple.
First lol