@@albundy9706 That is still Yucatan. Safe area. Merida is the second safest city in North America, right behind Quebec City. That however was before the Pandemic. Why that town? We know some Canadians that live near Merida. We are actually going to checkout Progreso, but anywhere near the beach is amazing. Nicest beaches in the world. My wife and I will start as snowbirds. Adjust life accordingly. Don't want to rise my 3 years old son just here. Too many brainwashed. I definitely want an escape spot. 6 months no visa is very appealing. Mexico was one country that never lockdown. It's my first pick. Looking elsewhere. Make our final decision in the New Year. Good luck and God Bless.
@@truthteller6743 I agree, selling in spring here in bc, using the funds to buy a home in Alberta and somewhere south. Not set in stone on where, but like you, near the water and warmth. I'll look into Merida as well. So many options
I’m building a custom house now in Toronto. I’m finding it easy to find contractors these days. I also can often find more reasonable prices. I also noticed that contractors are actually following up with me because they want the job. Before, we had to constantly follow up with them because they were too busy
Rates should never come under 10% so the savers can save for golden years. The younger generation should learn that money is not free. The house prices went sky high because of free money. Housing is a necessity not a business the governments of all so called Democracies made it a business with free money and now everyone is scrambling for the exits. Good luck guys. Buy only if you can afford it with your financial capacity not because money is cheaper.
What’s Canadas unemployment rate going to look like with all those extra people when the Recession hits. Will it drive down Wages if more people are Competing for the same job
Yes, let’s just import the rich. Some immigrants come from countries where they make less than $10 per day. Canada is still better than where they came from. Some come from countries where the government can seize all your wealth even if your a powerful billionaire so Canada is a perfect place to park money.
Are you implying this immigration policy is just a Liberal thing? If you think the Conservatives will change anything when they win the next election you will be disappointed.
@@Observer168 You mean like freezing people's bank accounts ? Some places you can live on $10 a day.. I think a lot will leave once they see how bad Canada is.
Canada’s major cities are just exhausting. I find myself just checking out. I prefer to be positive and find myself working in places where the locals here me talk about these cities and they usually answer with “that’s crazy, well I’m going to take January February off and go to Bangkok.” Then they jump on their dirt bikes on their days off during the season and have a blast.
Banning foreign buyers will not make any difference. What government needs to do is stop the mass mortgage fraud happening in Canada at big 5 Canadian banks. The government need to introduce a policy where banks are REQUIRED to accept income documents ONLY directly from CRA when applying mortgages for customers . This will stop the mortgage fraud. This will correct the real estate market and also control the inflation. The corruption is happening at a mass scale and MUST be stopped for betterment of canadians
They come from South America, India, middle east and the Philippines where they were making $10 per day. Some people just don’t know how lucky they are.
The Liberals never wanted to ban foreign buyers. Chinese foreign investors in the housing market are some of their greatest donors. And just because you are an international student or apply for a P.R doesn’t mean you aren’t a foreigner.
@@brianko5720 no, I calculated it using polynomial regression model, same as bank of Canada, how you concluded it is over tightened？grabbed from your ass？
Foreign students and foreign workers won't have much impact on housing in Vancouver and Toronto. International students who meet certain requirements, including having spent the bulk of the previous five years in Canada. They would be able to purchase a property for no more than $500,000. Foreign workers can buy only if they have worked and filed tax returns in Canada for at least three out of the four years prior to purchasing a property. What can you buy for $500,000 in Vancouver these day? Also, it's not like these people can buy home right away, they have to wait at least three years. BOC doesn't have any option but to crush housing, that's the only condition for inflation to subside. As long as people have jobs and are house rich, they will keep spending.
Lol this is a trap for investors who are stupid. As long as the median salaries don't go up, and interest rates don't fall down to previous levels, the housing will have immense downward pressure. Investors who charge more rent will only cause more inflation and thus create reasons for interest rates to go even higher..
@@GreenBeanGreenBean we'll see who's the genius. Watch how it pans out for next 3 years.. 😄. Interest rates are not coming down that's for sure. You think bringing more immigrants is going to push prices up and save the market? If rents remain high than at some points immigrants will see that they are only salving away for someone else and are not gaining anything and will question why they should even stay in frigid temperatures to salve away for someone else. I think next 3-5 years will be period of stained down trend in housing for sure. Moreover I feel sorry for born Canadians, while immigrants will slave away even trying to get anywhere whereas a lot born Canadians will have to lose hope and turn to drugs which we are already seeing. Oh man don't know where this country is going..
@@parthppatel28 3 years is meaningless, real estate is a long term asset.....aka 10+ years if not forever. it's moronic fake pump and dumpers that think the real estate market operates like the stock market that make reading these posts highly entertaining and hilarious at how wrong you are. if housing doesn't go up for 5 years, THAT'S FINE......(as long as the people are well qualified and paying off their mortgage) protip: the high interest rates is making new supply go to 0 real quick, so in a few years there will be another megarun when interest rates invariably come down again and incomes are also higher as 45 million people fight over the SAME supply of housing as there is today.
@@GreenBeanGreenBean I'm not saying it's not okay if housing sits flat. That's totally fine that way but for next year we'll see slight downward trend on house prices to balance for these interest rate hikes and loss of affordability which it has caused. In this environment the genuine/end buyers who have to buy will buy cause they are in it for long term but the wise investors are going to stay out and are out. Cause why would an investor buy something he's going to lose value/equity on? Even if it has positive Cash flow, he'll lose that equity that he builds on a house. I'm not an investors but I'll take advantage to this market condition which had investors out and demand fallen by a huge amount as there are a lot of those greasy investors in Canadian real scam estate..
@@parthppatel28 investors are the ones actually putting up money to build new supply........end users do not. a minimal downtrend for a short time isn't something to bet on lol. most investors are long term thinkers, and this environment is indeed the time to be buying up good deals....because like I said 5 years from now there will be an even worse severe shortage than the last big run.....3-5 million more people will be here and the amount of housing added will be miniscule.
@@Observer168 Gov't is the problem not the solution...you must live in Ontario...where everyone looks to gov't for solutions and keeps getting a lower standard of living as a result.
@@michael2275 I agree the government is extremely inefficient but people can’t expect services and infrastructure without paying taxes. Should we privatize all the education, healthcare, infrastructure and government services?
Agreed. This should be common sense.. if politicians actually cared about the working and middle class..instead of the rich, the investor class and rich foreigners looking to park their money into real estate.
@@hv3115 most politicians are investors or wealthy or get paid supplements from the investors to not drop them or the money laundering. Canada has the highest money laundering rates in the world. Until politicians crack down on all this and do stuff like parts of the US do and triple property tax on investment properties and properly track The investment properties and vacant properties not much will change. It’ll take Canada’s financial crises to create change and unfortunately that’s probably what we’re looking at in next 2-3 years
the government makes huge profits from landlords when they sell their rental ...any profit made at the point of sale of a "rental" is taxed way differently than your own home where you live....they get a cut ! . ... so government is squandering your money and will never be your friend ...
I wonder if temporary workers live in big cities or in special restaurants for workers. There is always limits on how much people can pay and we reached the limits.
@@saretsky Cheers buddy. And for the record, when I met you at Apple Greene and was surprised at how young you were, it's wasn't cause you "looked older" (you commented on how your grey's made you look older). I was surprised b/c you're so fricken smart! 😂
Yeah, right now they are getting workers because they think having more immigrants can keep the wages low. But what about the excess demand caused by having more people. I am not sure how does having more people will impact the goods inflation again, especially when there are still some supply bottle necks lingering. I don't think anyone really understands intricacies of economics, it's almost like trial and error.
So, how the government expecting the new comers to buy a dwelling and trap them into paying a higher mortgage rate? Who will lend a new comer without a financial background?
Immigrants improve productivity? LOL I worked at Amazon and they montior productivity, I was throwing 1800 boxes a day while the average immigrant was doing 400. LOL it was very evident and not an improvment in productivity.
How many educated locals are willing to throw boxes at Amazon? Did you go to college or university just to throw boxes at Amazon? We need people to fill these jobs.
@@Observer168I did take 5 yrs univesity and Appraised Real Estate for banks, but laid off from my job I took the Amazon job temporarilty. You obviously dont know what its like to take a job you dont like, to get by..
Most people (including me) never thought the BOC rate would be above 4% by the end of 2022. Lots of people wish for rates to come down sharply in 2023; imagine the scenario where It does not happen. BOC Rates have been in average 2% in 2022, imagine rates being over 4% in average in 2023: it will be savage.
It will not be a possible scenario. Tiff said the interest rates are going higher being that inhalation is at 6.8 percent. Tiff also indicated we have a way to go get inflation down to 2 %.
@@Paul-km8ko Seasonally adjusted, last month’s inflation was 0.4% MOM. That is 4.8% annualized. You seem to cherry-pick stats that support your beliefs.
yup, this is just the prelude, going to get much crazier than the normies think. We think we have come so far but really we're just the same as we were during all the other historic crises
Hi Steve, Thanks for your channel, I appreciate your content and your lens on the effect the macro picture has on our local/national economy. You’re in my top-3 weekly watches with Gammon and the Uneducated Economist. Merry Christmas!
All bs. If you bothered to look at the legislation, you would now that this stuff was there right from the beginning. Also, students and workers make 2/3 of the people, but these are not the people who were buying the real estate like crazy and bidding 200k over the asking price. Sadly, no more good content on this channel.
It is actually very hard for people with study or work permit to buy properties in Canada after the new ban. I know lots of people have to postpone their house purchasing plans because of that. For example, for international students, to be exempted, they must have filed income tax returns for the last five years, and they are only allowed to purchase a property that is under 500,000
China is starting to open up again after 3 painful years. Time for the Canadian government to open up an express immigration program for Chinese millionaires. Canada has always been in the business of immigration. Imagine a million Chinese millionaires coming to Canada with at least a million each. That’s already Trillions of dollars to our GDP when they start buying homes and cars. I can still only find a handful of detached homes under $1.4 million in Vancouver. I don’t think a detached home in Vancouver will ever become affordable. Owning a detached home in Vancouver has become a luxury.
@@hardipsingh2013 Higher salaries still give you a better lifestyle. Government just needs to tax more and pay healthcare professionals more. Fiscal policy is better than monetary policy.
Im a bit surprised immigrants are impressed with a 4% interest rate. If you were born in canada, you have nowhere else to go so youre stuck with whatever government If youre an immigrant, are you expecting the interest rates will plummet?
Some immigrants come from countries where they make less than $10 per day. Canada is still better than where they came from. Some come from countries where the government can seize all your wealth even if your a powerful billionaire so Canada is a perfect place to park money.
@@Observer168 i don't think "we're less abusive than your previous government" attitude is improving anything Trudeau is not a better manager than Modi.
@@Observer168 Most people who earn six figures in a developed nation, are 7 figures in debt. Dont kid yourself. Canada is broke but have enough "credit" to paper over the cracks. As soon as immigrants realise there are diminishing returns, its over for justinfrastructure trudeau. 🥊
We also have allot of Canadians leaving Canada
I am. Merida Mexico. I want to rise my son in a free and safe environment.
Yup. Planning to sell all my properties in 5 years and move to florida
@@truthteller6743 the wife and I are thinking Puerto Morales.
@@albundy9706 That is still Yucatan. Safe area. Merida is the second safest city in North America, right behind Quebec City. That however was before the Pandemic. Why that town? We know some Canadians that live near Merida. We are actually going to checkout Progreso, but anywhere near the beach is amazing. Nicest beaches in the world. My wife and I will start as snowbirds. Adjust life accordingly. Don't want to rise my 3 years old son just here. Too many brainwashed. I definitely want an escape spot. 6 months no visa is very appealing. Mexico was one country that never lockdown. It's my first pick. Looking elsewhere. Make our final decision in the New Year. Good luck and God Bless.
@@truthteller6743 I agree, selling in spring here in bc, using the funds to buy a home in Alberta and somewhere south. Not set in stone on where, but like you, near the water and warmth. I'll look into Merida as well. So many options
Left Canada this year, with my little boys. Moved to the Baja in Mexico . Best decision I ever made.
Smart move. I’d leave if I could.
We are thinking to leave as well.
I know of 2 friends that did the same thing. Moved their family to Mexico. Enjoy
Mexico is good?
Is it difficult to move to Mexico?
I’m building a custom house now in Toronto. I’m finding it easy to find contractors these days. I also can often find more reasonable prices.
I also noticed that contractors are actually following up with me because they want the job. Before, we had to constantly follow up with them because they were too busy
construction labour rate will come down. it has been rediculous. this is the point of rate increase, fixing the over demand.
Labor won't come down until everything else does first
@@huskavarnapunkband
You can definitely find deals if you know what you are doing
Thankfully, The days of the crappy carpenter are soon over.
If you want affordable housing, just keep rates at 7%. Simple.
not wrong
Rates should never come under 10% so the savers can save for golden years. The younger generation should learn that money is not free.
The house prices went sky high because of free money. Housing is a necessity not a business the governments of all so called Democracies made it a business with free money and now everyone is scrambling for the exits. Good luck guys. Buy only if you can afford it with your financial capacity not because money is cheaper.
Its almost as if the people making the decisions are personally invested in Canadian real estate.
:) 😀 exactly!
What’s Canadas unemployment rate going to look like with all those extra people when the Recession hits. Will it drive down Wages if more people are Competing for the same job
Yup, that's when appetite for mass immigration hits a wall. That will reveal the failures of Trudeau (I hope).
Time to only allow skilled and millionaire immigrants.
Importing poverty. This government is a disaster.
Yes, let’s just import the rich. Some immigrants come from
countries where they make less than $10 per day. Canada is still better than where they came from. Some come from countries where the government can seize all your wealth even if your a powerful billionaire so Canada is a perfect place to park money.
Are you implying this immigration policy is just a Liberal thing? If you think the Conservatives will change anything when they win the next election you will be disappointed.
@@Observer168 You mean like freezing people's bank accounts ? Some places you can live on $10 a day.. I think a lot will leave once they see how bad Canada is.
@@Calvin5150VH Canada is much better than other countries. At least you are free to become rich if you put your mind to it.
@@Observer168 Once we get rid of Trudeau.
Canada’s major cities are just exhausting. I find myself just checking out. I prefer to be positive and find myself working in places where the locals here me talk about these cities and they usually answer with “that’s crazy, well I’m going to take January February off and go to Bangkok.” Then they jump on their dirt bikes on their days off during the season and have a blast.
Banning foreign buyers will not make any difference. What government needs to do is stop the mass mortgage fraud happening in Canada at big 5 Canadian banks. The government need to introduce a policy where banks are REQUIRED to accept income documents ONLY directly from CRA when applying mortgages for customers . This will stop the mortgage fraud. This will correct the real estate market and also control the inflation. The corruption is happening at a mass scale and MUST be stopped for betterment of canadians
that would be smart policy
Merry Christmas Steve. I hope you get a new microphone for Christmas.
ahah - merry christmas
No temporary workers ever wants to go back. I know many in my community that came as temporary worker all stayed.
They come from South America, India, middle east and the Philippines where they were making $10 per day. Some people just don’t know how lucky they are.
The Liberals never wanted to ban foreign buyers.
Chinese foreign investors in the housing market are some of their greatest donors.
And just because you are an international student or apply for a P.R doesn’t mean you aren’t a foreigner.
You really think our government has any power? Our prime minister works for the “Crown”
Merry Christmas Steve, enjoy your Holidays...
Same to you!
over tightened？not until home price comes down by another 50%. we have been over loosened for too long.
why not 60%?
@@saretsky getting closer Steve 🤫
@@saretsky why overtightened now not 400bps ago？it is still negative real rate.
@@brianko5720 no, I calculated it using polynomial regression model, same as bank of Canada, how you concluded it is over tightened？grabbed from your ass？
what part canada does china own
Ottawa
@@tz7332 what you said yup
All of it 😂
Trudeau
Vancouver we call it HongCouver
Foreign students and foreign workers won't have much impact on housing in Vancouver and Toronto. International students who meet certain requirements, including having spent the bulk of the previous five years in Canada. They would be able to purchase a property for no more than $500,000. Foreign workers can buy only if they have worked and filed tax returns in Canada for at least three out of the four years prior to purchasing a property. What can you buy for $500,000 in Vancouver these day? Also, it's not like these people can buy home right away, they have to wait at least three years. BOC doesn't have any option but to crush housing, that's the only condition for inflation to subside. As long as people have jobs and are house rich, they will keep spending.
Lol this is a trap for investors who are stupid. As long as the median salaries don't go up, and interest rates don't fall down to previous levels, the housing will have immense downward pressure. Investors who charge more rent will only cause more inflation and thus create reasons for interest rates to go even higher..
that's 100% NOT how things work lmao......another internet jenius at work
@@GreenBeanGreenBean we'll see who's the genius. Watch how it pans out for next 3 years.. 😄. Interest rates are not coming down that's for sure. You think bringing more immigrants is going to push prices up and save the market? If rents remain high than at some points immigrants will see that they are only salving away for someone else and are not gaining anything and will question why they should even stay in frigid temperatures to salve away for someone else. I think next 3-5 years will be period of stained down trend in housing for sure. Moreover I feel sorry for born Canadians, while immigrants will slave away even trying to get anywhere whereas a lot born Canadians will have to lose hope and turn to drugs which we are already seeing. Oh man don't know where this country is going..
@@parthppatel28 3 years is meaningless, real estate is a long term asset.....aka 10+ years if not forever.
it's moronic fake pump and dumpers that think the real estate market operates like the stock market that make reading these posts highly entertaining and hilarious at how wrong you are.
if housing doesn't go up for 5 years, THAT'S FINE......(as long as the people are well qualified and paying off their mortgage)
protip: the high interest rates is making new supply go to 0 real quick, so in a few years there will be another megarun when interest rates invariably come down again and incomes are also higher as 45 million people fight over the SAME supply of housing as there is today.
@@GreenBeanGreenBean I'm not saying it's not okay if housing sits flat. That's totally fine that way but for next year we'll see slight downward trend on house prices to balance for these interest rate hikes and loss of affordability which it has caused. In this environment the genuine/end buyers who have to buy will buy cause they are in it for long term but the wise investors are going to stay out and are out. Cause why would an investor buy something he's going to lose value/equity on? Even if it has positive Cash flow, he'll lose that equity that he builds on a house. I'm not an investors but I'll take advantage to this market condition which had investors out and demand fallen by a huge amount as there are a lot of those greasy investors in Canadian real scam estate..
@@parthppatel28 investors are the ones actually putting up money to build new supply........end users do not.
a minimal downtrend for a short time isn't something to bet on lol.
most investors are long term thinkers, and this environment is indeed the time to be buying up good deals....because like I said 5 years from now there will be an even worse severe shortage than the last big run.....3-5 million more people will be here and the amount of housing added will be miniscule.
Im Canadian but also a nonresident, living in another country, so am I banned from buying property too?
Why do you think the boc has over tightened?
debt servicing ratios will hit record highs in Q1. It takes 12-18 months for monetary policy to hit the real economy.
@@saretsky well if you took on debt that sounds like a you problem. (just speaking generally not you in particular).
1:02 made me cringe hard. Our infrastructure does not seem to be prepared to deal with that many more people.
Catch22, we need to collect more taxes to fund better infrastructure and services
@@Observer168 Gov't is the problem not the solution...you must live in Ontario...where everyone looks to gov't for solutions and keeps getting a lower standard of living as a result.
@@michael2275 I agree the government is extremely inefficient but people can’t expect services and infrastructure without paying taxes. Should we privatize all the education, healthcare, infrastructure and government services?
Trudeau importing votes ! Obvious!!
@@colbiecolbie6979 The “Crown” controls everything. Our Prime Minister works for the “Crown”. Learn the history of your country.
Grerat video 👍
@Sarrestsky crazy, gtf
That population growth is astonishing. Can I ask the source of the data?
Homes are for living in nor for investing. Anyone with secondary or more housing shd be forced to sell
Exactly agree with you 100%
Agreed. This should be common sense.. if politicians actually cared about the working and middle class..instead of the rich, the investor class and rich foreigners looking to park their money into real estate.
@@hv3115 most politicians are investors or wealthy or get paid supplements from the investors to not drop them or the money laundering. Canada has the highest money laundering rates in the world. Until politicians crack down on all this and do stuff like parts of the US do and triple property tax on investment properties and properly track The investment properties and vacant properties not much will change.
It’ll take Canada’s financial crises to create change and unfortunately that’s probably what we’re looking at in next 2-3 years
Do you also want the government to control how many children you have? We live in a free country!
the government makes huge profits from landlords when they sell their rental ...any profit made at the point of sale of a "rental" is taxed way differently than your own home where you live....they get a cut ! . ... so government is squandering your money and will never be your friend ...
i like when you seperate your hands and put them in the air, it looks like youre throwing confetti
Merry Christmas
Same to you!
Alberta is going to be the shining light in 2023! People will be packing their bags and moving West from Ontario!
Merry Christmas Steve
Merry Christmas!
Merry Christmas and Happy New year! great content and discussions!
I wonder if temporary workers live in big cities or in special restaurants for workers.
There is always limits on how much people can pay and we reached the limits.
They all share rooms. $500 per bed
Merry Christmas, Steve! Thanks for all the great content, both here and on the Loonie Hour! Looking forward to an entertaining 2023!
Thank you Boney. Happy New Year !
@@saretsky Cheers buddy. And for the record, when I met you at Apple Greene and was surprised at how young you were, it's wasn't cause you "looked older" (you commented on how your grey's made you look older). I was surprised b/c you're so fricken smart! 😂
importing from other countries will eventually backfire. think thru some of the consequences of selling out to foreign values/ people etc..
Yeah, right now they are getting workers because they think having more immigrants can keep the wages low. But what about the excess demand caused by having more people. I am not sure how does having more people will impact the goods inflation again, especially when there are still some supply bottle necks lingering. I don't think anyone really understands intricacies of economics, it's almost like trial and error.
So, how the government expecting the new comers to buy a dwelling and trap them into paying a higher mortgage rate? Who will lend a new comer without a financial background?
And as you've often said the beatings will continue until morale improves.
Merry Christmas Steve.
Merry Christmas!
Immigrants improve productivity? LOL I worked at Amazon and they montior productivity, I was throwing 1800 boxes a day while the average immigrant was doing 400. LOL it was very evident and not an improvment in productivity.
How many educated locals are willing to throw boxes at Amazon? Did you go to college or university just to throw boxes at Amazon? We need people to fill these jobs.
@@Observer168I did take 5 yrs univesity and Appraised Real Estate for banks, but laid off from my job I took the Amazon job temporarilty. You obviously dont know what its like to take a job you dont like, to get by..
The Poor are coming and the Rich are living...
Most people (including me) never thought the BOC rate would be above 4% by the end of 2022. Lots of people wish for rates to come down sharply in 2023; imagine the scenario where It does not happen. BOC Rates have been in average 2% in 2022, imagine rates being over 4% in average in 2023: it will be savage.
the last five months annualized inflation in canada is 1.7% and 2.3 in the US...... boc and fed pivot coming in Q2 2023
It will not be a possible scenario. Tiff said the interest rates are going higher being that inhalation is at 6.8 percent. Tiff also indicated we have a way to go get inflation down to 2 %.
@@Paul-km8ko 4% of rate hikes barely brought down inflation 2% I would not hold my breath
@@Paul-km8ko lol where did you get that info from? It's 6.8% last month
@@Paul-km8ko Seasonally adjusted, last month’s inflation was 0.4% MOM. That is 4.8% annualized. You seem to cherry-pick stats that support your beliefs.
The December 50 point rake hike was like the Grinch(Tiff) who stole Christmas
Whistler and Pemberton are exempt from Foreign Buyer ban
link?
Yes its only for major metro areas
Interest rates to 50% inflation to 600%
yup, this is just the prelude, going to get much crazier than the normies think. We think we have come so far but really we're just the same as we were during all the other historic crises
Hi Steve,
Thanks for your channel, I appreciate your content and your lens on the effect the macro picture has on our local/national economy.
You’re in my top-3 weekly watches with Gammon and the Uneducated Economist. Merry Christmas!
Thanks for the support Ron. Happy New Year !
All bs. If you bothered to look at the legislation, you would now that this stuff was there right from the beginning. Also, students and workers make 2/3 of the people, but these are not the people who were buying the real estate like crazy and bidding 200k over the asking price. Sadly, no more good content on this channel.
It is actually very hard for people with study or work permit to buy properties in Canada after the new ban. I know lots of people have to postpone their house purchasing plans because of that. For example, for international students, to be exempted, they must have filed income tax returns for the last five years, and they are only allowed to purchase a property that is under 500,000
China is starting to open up again after 3 painful years. Time for the Canadian government to open up an express immigration program for Chinese millionaires. Canada has always been in the business of immigration. Imagine a million Chinese millionaires coming to Canada with at least a million each. That’s already Trillions of dollars to our GDP when they start buying homes and cars.
I can still only find a handful of detached homes under $1.4 million in Vancouver. I don’t think a detached home in Vancouver will ever become affordable. Owning a detached home in Vancouver has become a luxury.
Good luck finding nurses , doctors or people that are the worker bees of society if that's the scenario. No point in working hard to afford nothing .
@@hardipsingh2013 Higher salaries still give you a better lifestyle. Government just needs to tax more and pay healthcare professionals more. Fiscal policy is better than monetary policy.
healthcare professionals ?????? people still haven't figured it out yet, just follow the elite Morlochs...........willie
Im a bit surprised immigrants are impressed with a 4% interest rate.
If you were born in canada, you have nowhere else to go so youre stuck with whatever government
If youre an immigrant, are you expecting the interest rates will plummet?
Some immigrants come from
countries where they make less than $10 per day. Canada is still better than where they came from. Some come from countries where the government can seize all your wealth even if your a powerful billionaire so Canada is a perfect place to park money.
@@Observer168 i don't think "we're less abusive than your previous government" attitude is improving anything
Trudeau is not a better manager than Modi.
@@nadeemamode most third world countries have very bad governments. If the country is not poor because of the the government then it’s the people .
@@Observer168
Most people who earn six figures in a developed nation, are 7 figures in debt.
Dont kid yourself. Canada is broke but have enough "credit" to paper over the cracks. As soon as immigrants realise there are diminishing returns, its over for justinfrastructure trudeau. 🥊
@@nadeemamode That seven figure debt better be real estate otherwise you need to speak to a financial advisor.
Yes !! India will save us.
We will only step in when the firesales start.
Your clearly biased, working in real estate, wanting more demand(foreign money) in the market which results in more sales/commissions.
You must be new here, welcome!
@@saretsky just making an obvious observation.
International students can as soon as they get their PR status. They can also setup “Holding Companies” to own real estate.