Housing is a top structural problem for the economy: economist
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- เผยแพร่เมื่อ 15 ก.ย. 2024
- Frances Donald, global chief economist and investment strategist for Manulife Investment Management, joins BNN Bloomberg to discuss the housing and mortgage situation in Canada.
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Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
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I think we need to address the issue many employees feel. That being productive just leads to more work. If we actually had 3 to 4 weeks minimum vacation like most of other countries, we could probably be as productive as the europeans and be happier. We are only young and healthy once. But as it stands, this productivity crisis wont end until we all start treating employees like people with lives outside work. Just my opinion.
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Why does she forget to mention the federal government keeps policy of bringing in 1 million immigrants every year while we only build about 200,000 homes annually? I am sick and tired of people not talking about the elephant in the room...
Housing is choking the economy.
Housing is the economy. 🤣
@@mattbarry79these are non-productive assets
The federal liberals are choking everyone
I think so is our 2 weeks minimum vacation. I think many people see the reward for being productive as not enough time off and more work. Most of world get 3 to 4 weeks minimum and among countries like germany, they are much more productive. I think employees want to live their lives, not just work. We are only young and healthy once.
@@abcdedfg8340 I am supportive of 6 weeks (incl public holidays) vacation
Even at 7.25% interest rates from the big banks homes are still $1M. Thats insane. Where the FUCK are people supposed to live?
Owning a house has been a cornerstone of our society. If the ability to own is out the window. Productivity is out the window with it.
Heck no
Why be productive if we get just 2 weeks minimum paid vacation minimum and more work as a reward. Most of world get 3 to 4 weeks minimum, and is much more productive. Like in europe. I think people want to live not just work. We are only young and healthy once. Just my opinion.
@@abcdedfg8340
Not in China, Japan or Singapore.
@@shauncameron8390 China. Lying flat and low birthrates. Singapore. Low birthrates. Japan.. even less productive than Canada because of burnout lol. Do you really think people are productive when they work long hours and dont get proper time off ? You think people are machines that never tire and never lose motivation?
@@shauncameron8390 Japan has a huge productivity problem, long hours and mental health issues. Singaporeans suffer from extremely high stress levels. Chinese have excessive work hours that also mean that per hour they are probably not very productive. People burnout and lose motivation. Meanwhile germany and other european countries get more done in about 60 or 70 percent of the time as i read. Maybe motivating employees with time of their own works? Just my opinion.
No mention of government spending? You can't ignore that while trying to make sense of persistent inflation.
If only immigration growth was kept in check this past year would have been the opportunity for Millenials to actually get into the housing market.
Immigrants didn't force realtors to seek top dollar for the houses they're selling to pad their commissions.
Immigrants didn't force homebuilders to focus on more profitable McMansions instead of affordable entry-level housing.
If only capitalism had been kept in check these past several years....
Get rid of the demand created by a population boom and Realtors wouldn't have the ability to up the price.
Low demand = low price.
100%
@@iExploderdemand exceeds supply because of mass immigration
No .. prices are up because of the increase of the money supply. It's pretty simple. She said everything else but the real issue ... "MONEY SUPPLY"! the more money in the market chasing the same goods .. price goes UP.
House prices have bottomed out…..will go higher in 2025
I've been saving or, trying to save, for a house, for 20 years.
I have about $1600, and about $565 in credit card debt.
Should be about a month or less before the next emergency wipes it all out again, if history holds to the pattern.
Build them as fast as you can, until I can buy one without a down payment and have it be one that costs under $100k, I'll be stuck in this asbestos riddled, crumbling wall and ceiling death trap, until it collapses and leaves me homeless.
Can Tiff sue her and her company for misrepresenting what he said at the last conference/meeting?
Young people should leave Canada and search for jobs in the US or elsewhere.
Working on it
Why you guys f ed up canada want to f another 1aswell?
Itll take a generation for housing to become affordable re salary indexing and builds. Esp at the current rate being
I think that you have not counted the launder (dirty money) in real estate. Canada has huge drug money from fentanl and other street drugs. That has billions into the investment and banks. TD?
Snow washing is over 5% of GDP according to different experts on the matter
All this shows is how incompetent our policy makers are. You did not anticipate population growth??! Are you kidding me?
Black rock is the best landlord
Banks won;t approve a mortgage for anyone making the minimum wage.
So what is the point of having a minimum wage then?
It doesn't give anyone any level of security, all it does is give the top earners an excuse to whine about how much the slaves cost.
Equal before and under the law, unless you breathe.
But theres people saying the Canadian housing market is going to crash….. lol
Dont fight the rules of supply and demand you will not win.
Yeah. Well i hope those 410,000 people that came into the country in the last 4 months bought some money with them as well.
@ewaste8318
So when they do accumulate wealth. They will buy in the future? So supply and demand makes sense or no?
Minimum wage = no mortgage.
So what good is the minimum wage then?
To do big business a favor and price the smaller competition out of the market.
I think many employees also realize 2 weeks' minimum vacation is basically useless. I think they already know most of the world gets 3 to 4 weeks as a minimum, and especially compared to other developed countries, canada is way less productive. Maybe employees just want enough time for their lives instead of just being given more work. We need productive people who are paid decently, not long hours, that make people stop trying as it appears to be. Japan and korea have long hours, but they are less productive than germany. Maybe canadians would be more productive if we had real paid time off. Just my opinion.
Doesn't make any 😢sense.......
how come housing starts lowest in GTA in last 20 years ???
Is this because of the capacity issues or something else ????
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Canada is one of the only countries in the world that include housing costs in their inflation data. And since most of inflation in Canada is caused by OSFI and Bank of Canada induced cost increases in housing, there is no practical inflation. No excuse to reduce cost other than ego of the Central bank and the bank regulators (that are chocking bank’s ability to lend and making it more costly for them when they do).
Effective central bank policies involve a delicate balance of transparency, communication, and prudent management of monetary and financial stability risks. You have a lunatic and self serving administration in charge of this economic miracle, good luck to all.
I like this guest. She's cute, friendly, upfront, and super smart.