Trudeau announces new measures to help renters
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- Опубліковано 26 бер 2024
- Prime Minister Justin Trudeau announced a plan that will give renters credit for paying their rent on time every month and improve their chances of buying a home. Scott Terrio, a consumer insolvency manager discusses the announcement and how this can help renters in Canada.
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JT's plan shows just how disconnected he is from the reality of average Canadians. It's not our credit score holding us back from owning homes. It's the lack of housing supply, huge influx of demand, high interest rates, and ridiculous prices. We need to vote this nepo baby out of office ASAP.
So true
exactly! he needs to go!
Yep. I was a mortgage broker and my friends still are. I have never seen this mythical client that is young, has $100,000+ for a down payment, and has bad credit that would be fixed if only their rental payments affected their credit.
This seems to me in the interest of Equifax, the govt, and banks. If it was in our interest, they would make credit scoring illegal so lenders are actually forced to take risks and treat customers equally.
@@AlexWilkinsonYYCI 100% agree! As a past landlord to a very affordable secondary suite I’ve been out tens of thousands in damages as well as non paying tenants. I’ve been burned enough my suite is now an Air B&B . For me it wasn’t once bitten twice shy it was 90% of the tenants I took in either trashed it or always late with rent or paying last minute then refusing to cover the shared hydro after busting the heat all winter.
I still have about 10 totes behind a shed of abandoned belongings. I’ve had hoarders too.
There should be credit scores on tenancy like in Australia. I would report them and it would hopefully 🤞 make tenants wise up as of now most tenants have ZERO respect for landlords and carry all the rights.
Not all landlords are greedy and if I reduced the rent out of compassion then you would think there would be a higher regard of respect and gratitude.
Turns out the more affordable you are the worse the tenants . The more you charge the better the tenants. That’s not being greedy that’s the logic. I use the same logic when I sell pups. I breed PB golden labs once every 2 years. I charge $2000 plus and if you can’t afford that you can’t afford a dog. It weeds out the ones that are potentially neglectful and every pup comes chipped dewormed from 2 weeks old insured for the first 60 days from adoption. I do everything in my power to ensure I’m putting out theses little gaffers to the best possible homes and I have turned down people. If only I figured that out about tenants long ago.
It's the low wages keeping people from buying homes. If Canadians had higher paying jobs and fewer people coming into the country than people who want a home can be home owners.
Still doesn’t lower housing costs.
You going into the trades and the construction industry would help...if you're not part of the solution then you're part of the problem.
@@JessT-vg7ib let’s do it! I’ll bring my hammer.
Who says anyone was lowering anything? It's supposed to help us renters with credit ?? XD. Inflation is a thing don't forget. A bag of chips and pop when my mom was a kid was 50 cents!!!!!
@@JessT-vg7ib The Tradespeople are some of the most affected by the carbon tax and have to pass that expense onto developers, buyers, and eventually renters.
Anyone working in the Trades knows how secure their jobs are. We need to secure jobs so that Trades people can benefit from this. Otherwise this credit score system will be for nothing. @@perryroberts4353
Unusual for CBC to leave comments on…😐
At this point they are fearing de-funding so they are starting to jump ship to please their so to be new master.
They trying to catch you for the online hate speech to arrest you and give you a home and three meals a day. Who needs to rent just say a mean comment
They probably thought the comments would be positive
they only leave comments on to see what you people think. its easier than paying people for a group-think study
CBC has given up on this dude.
sounds like one more step to make sure landlords reports their rental incomes to be taxed.
Good point
exactly - more deceit
isn't that a good thing? too many slumlords are getting rich by exploiting renters.
@@ihategooglesomuch it is what the market demands. Not enough rentals available leaves the landlords the ability to charge based on demand. Creating a renters bill does absolutely nothing to increase available housing or housing affordability. It is nothing but a smoke screen.
@@ihategooglesomuch Maybe. But remember, for every slumlord there are over 10 or more independent landlords who rent things like basement suites. And then there are another 20 landlords who operate professionally run rental buildings. I wouldn't let the 1% of landlords dictate your view on national policy.
How about just lower taxes and don't send money to Ukraine?
that does nothing but give the government less money to cover certain social services
@@vanhoot2234The majority of your money is going to an ever increasing size of government along with 6-digit salaries and pensions.
@@vanhoot2234 Which social services are we talking here? Who does the federal government help specifically? All the ones I know such as ODSP, OW, etc.. are provincially funded and do the heavy lifting.
Absolutely correct! Stop giving Canadian taxpayer’s money to citizens of other countries! Take care of your own first! Charity begins at home! Your own backyard has been neglected for years! Get some brain cells Mr. PM Trudeau!
This is beyond absurd. How can you draw comparisons like this ? Take steps to reduce rent.
How? We are supposed to live in a free market society. As King Polly said if there are rents at 2-4k a month it is because people are willing to pay these prices.
Oh, most definitely reduce the sky high rent.
But it you can pay the absurd amount, I'm sure people should have the credit to reflect, that you can afford to buy that house.
What happened to "The government has no business in business"? Do you want a free market or do you want communism (that's where government rules over industry).
That’s a provincial issue
@@PaulMartin-qu5up I want a government that listens to the people that tell them how their decisions are going to affect Canadians whether it's good or bad for them
He's making sure that if you are late on a rent payment you won't ever own a home
No...he wants to help the Landlords so they can pay their mortgage and that helps the banks. 😊🍁
yup everything he does is more authoritarian under the thin guise of being beneficial...CBC shame on you for twisting everything!
maybe irresponsible people shouldn't own homes?
@@sonjagatto9981 Then why is he saying "it is to help renters"
We won't ever own a home anyway stop listening to him
🤦🏽♂️ this will do nothing
Nope~ never get better 😒
itll sure help renters like me out a ton!!
It will help landlords. That's it.
Absolutely nothing.
@@Platinumdose420how? Lol. It absolutely will not.
So if you have a landlord that doesn't like you he can destroy your credit rating. Awesome 👍🏾
Ya, if greedy renters can destroy landlord credit too. Landlord will spend a year kick them out.
this isnt gonna help RENTERS at all
👍but it will help Landlords.
Wake up Canada , dictators love control ,they want to control everything and everyone . when you spend
more money , you need to raise taxes , he doesn't know and doesn't care ,because he never paid taxes.
It will also help banks.
Help good renters
This is a trick to make sure LANDLORDS aren’t receiving cash and reporting ALL tenants
This is laughable
Credit score, cool. Now how about reducing the damn tax so we might be able to AFFORD to buy a house & get a mortgage?!?!??
reducing taxes isn't the answer. how about paying a wage that actually allows you to afford the basics of life, like shelter, food, utilities.
@@ihategooglesomuch Trudeau does not pay my wages, he is the one charging the tax.
@@ihategooglesomuchthat depends on your tax bracket. Which takes away anywhere from 20-50% of your income
@AW-gj4ji if you want a decent healthcare system that actually works, a safe place to live, support systems for the disabled, etc. then you need to pay for that with higher taxes. if you look at other first-world countries that have better standard of living than Canada, like most European countries, they all pay high taxes. however, if your income is also increased to a reasonable level, you can have enough money left over to live comfortably.
LOWER RENTS ..THATS THE PROBLEM AT 2500+++ THERES NO MONEY FOR A HOUSE....GOOD CREDIT OR NOT😳😳😳
True! Highest Credit score is 900 in Canada. Anyone can achieve that if you always pay your bills in full and on time. No difference if you pay rent or pay a mortgage.
I know that for sure.
However, I think it is clever how in a hidden way Trudeau is really helping the landlords.
People default in rent payments and sometimes are many month in arrears.
Just who is he kidding❓
@@sonjagatto9981 Almost no one can achieve a 900 credit score unless you are a very high net worth individual. The highest an average person can get to is about 840-850.
It's the landlords. Justin isn't renting anything to you. It's your landlord. XD. ??? Justin is helping us renters finally get credit for renting. That's so amazing in my eyes
I mean my score is only average. And I don't own a car or house
But can you afford to save for a downpayment on a house or condo? If not, then what difference will this make for renters in this situation where the rent is too high to ever save much?
@@milezeroisland yea get a job and start saving. Dint just throw your money in the bank where there's no interest. Make a crypto wallet
He has lost touch. He needs to go.
He needs to go to prison.
@@johnlocke3862 Wrong country.
What a clown. Any one else hate listening to him talk?
Yup.
Unfortunately once you've lived many decades, you will eventually come to the same conclusion that most of us "older" people come to:
All politicians are essentially the same. They make promises that will never happen, or they simply say what they think people will like to hear etc. Until the day politicians are just regular, day to day folks, nothing will ever change.
be easier to keep track of the promises Justin has kept than the ones he promised to keep @@pecospelagodroma
Hearing him talk is nauseating. I'm sure whatever his plan is will raise the cost of living
That's on you. Not him. The least you could do is own it.
To late Trudeau we want you out of office!!
You gonna have to use a Straightjacket to drag him out of there.
Agreed
Not the sentiment held by all Canadians, especially when there isn’t a viable replacement with two opposition candidates that aren’t electable for vastly different reasons.
@@TheTechnoPilot Oh there is a very viable replacement. You just have a bias against him.
Never mind, I just reviewed your comment history. You're already over the point of no return.
'Tax farmers into poverty because the sky is sad'
Kek
@@POVwithRCHe's probably friends with my brother
Renters are having a hard time paying their rent and THAT is what will be reflected on their credit score. This PM is so far removed from anything resembling the life and struggles of the average Canadian. He finds his job boring. That's because all he ever does is think about how and where he can stick his grubby little fingers into the life of everyone else. He has done either absolutely nothing, or totally mishandled the things he is actually responsible for, but thinks he has the solution for everything else. The sooner he is gone, the faster Canada and Canadians will be able to start the long road of recovery.
Remember... 'you'll have to forgive me if I don't think about the finances of the country' (another useless moment from JT)
Don't forget that this snake has two heads.
Remember that if you dare criticize him, the little dictator can freeze your bank account.
All BS ! Talk talk talk
Yap yap yap. Hes all blabber and zero substance
So who is helping them with the downpayment? When your take home is less than your rent, this guy is a comedian!
What he said has a hidden agenda...I stated earlier in another reply.
He is unbelievable...to be kind. 🙄
What about seniors?
exactly. how ridiculous for him to say that only young people are paying too much for rent. renters come in all ages; we are all getting screwed. of course, he wouldn't know due to his privileged upbringing.
The disabled as well.....
As always they forget about the most vulnerable as if they don't matter.
That is why nobody want to rent the house to senior or single mom.
Part of the social credit score system.
Be a good sheep and pay your rent on time and you’ll be rewarded with a better credit score.
Unless you fall on hard times and your score is damaged due to rent ..
Wow!!!!!! Please do this.
That's normal. People live alone. They have fewer people around themselves to act as guarantors. Your payment history will show how reliable you are.
oh don't be ridiculous, it's about time the federal government reigned in landlord greed, and they're getting housing built. As a renter myself, I am very grateful.
Yeah I want a landlord giving me a credit score....unreal...!
So the assumption is that the majority of renters have poor credit? Misses the point when supply is the main issue! Reduce rent and actually help people!
Yes, the assumption is very ignorant that renters all have poor credit, it isn’t even close to what is happening! There are simply no affordable homes available, and none being built! Condos are not an affordable option! It’s like paying twice as much for an apartment and believing that you own something more than a piece of the sky.
What happens if your condo building has a fire & you can’t live there while they fix it? Or it’s no longer habitable & it’s demolished? Then what?
but if I get a perfect credit score doesn't that mean I get a mansion, Lamborghini and a million cash?@@ReneeKnightYogaRani
O stop that NONSENS 😡😠
More credit...who can afford more debt!!!! Just stop taking our money then we can afford to live. I don't need government to take and then release back. No logic.
It’ll balance itself!!!! That government doesn’t have any logic to rule the country!!!!
Better to have a "Guaranteed Income".
@@Marc_Gagne And who will pay for this "guaranteed income"?
Another nothing burger. What is he being kindergarten teacher of Canada? WTF?
Could have been worse.... imagine Freakland explaining that one.
who think he is doing something good ?
He is just normalizing paying 2.5k for a rent .
I think this is fabulous and has nothing to do with normalization of current rents.
@@TheTechnoPilot LOL Woke ?
@@TheTechnoPilotyou must be a landlord
@@TheTechnoPilot Protecting landlords is one thing, punishing renters who we know can't make payments because of a national crisis is just pure evil. The national credit score average is about to nosedive.
@@agodelianshock9422 This is about implementing a social credit score in our now feudalistic system.
I can't properly afford to get a small apartment on pension in Montreal
This is a joke. Credit is credit. Credit does not equal $! You don’t need a landlord to verify your rent payment. A regular payment on your credit card will build your credit. None of this will amount to the sum of actual dollars you need to buy and own a home.
This is a trick to make sure landlords aren’t receiving cash under the table. If renters are interested then the landlords have to report because they aren’t going to report on themselves if they are just pocketing the cash
This does nothing but make sure landlords aren’t taking cash and reporting to the government
People renting who have renter disputes are gonna have issues with this. Landlords will love it though
I have a 833.credit rating how is this going to help me when I can't afford a down payment or a monthly mortgage payments
The person paying a $2k mortgage is also paying all utilities, property tax and insurance plus upkeep and maintenance. But of coarse a spoon-feed rich kid wouldn't know about paying a mortgage. A credit rating is based on your ability to repay what you have borrowed not what you've rented.
you think renters don't pay utilities as well? if you think it's such a good deal, sell your house and go rent somewhere then!
@@ihategooglesomuchSome rentals include utilities and I did sell my home and bought another in Alberta for 1/3 of what I got for my house in BC. That's called being smart... try it sometime
@DirtyDog995 then why are you complaining, if you are so successful in the housing game? a smart person would realize that they are fortunate instead of antagonizing others. also, I've been a renter in many units, and never once have I not paid for utilities.
@@ihategooglesomuchNot complaining... pointing out to the complainers that your anger is wrongly placed. But your too blinded by your anger to see that or learn to get out of the hole your in.
How much do you think a senior citizen gets monthly. How are Canadian citizens supposed to live on 1900 per month. Rent is not cheap. It’s only for the high class.
So maybe more seniors apartment buildings with subsidized rents need building. There are so many baby boomers.
A Mississauga retirement home is evicting seniors so a developer can get in. By law they can give 3 month notice and that's it. They are helping the seniors with moving expenses but where are all those seniors going to find apartments, when one senior pays 1600/ month. Where is that senior going to find an accessible apartment for her for that price? They already have a established commity for seniors, and all that it's going to be gone soon. Ford is probably not interested in hearing about the plight of those seniors looking for affordable apartments eh???
Seniors aren't all that important because Government has nothing to gain from them anymore as they are a burden on the society. I know how you feel because I also belong to the same group.
@@elena2125 It is funny that seniors do not have responsibility at all to save for retirement, every penny must come from government (ie taxpayers).
@@victorlee2398 What do you mean no responsibility??? So all their lives they did absolutely nothing at all? They did not work.? They did not pay taxes? None of them did volunteer work? They did not raise kids? They did not give to the community? Where have you being living under rock???
What a joke?! 😂 We don't need better credit score, we need lower rent, lower cost on living
Then, whoever can't pay is beaten down even further like the majority of us
Clearly you have zero idea of the liabilities and or expenditures of homeownership. There is an exhaustive amount of expenses that go into owning a home.
@@keithhartwig6095Yup... I used to think boat ownership was exhaustive till I bought a home and had to sell the boat.
@keithhartwig6095 clearly you have never felt the hardship of actually being poor and not ever being able to afford a home in the first place then?
Rent a tent?
Or a 200something K shed I mean tiny home like in kelowna BC that's made in the USA and then shipped up here!
and where you gonna put that tent?
When you are more focused on trying to look like you are doing something about something when in fact you are doing absolutely nothing.
Bring a million immigrants and tell you oh we have housing because of your credit score issue
Landords are to be trusted reporting financial information? If you have any dispute, now the landlord has the leverage to take action against you by reporting any disputed amount as non-payment.
Where can you buy a house with a $2000/mo. Mortgage? Too little too late! He's scrambling to try and get voters back. Good luck with that!
The lights are on, but nobody is home.
Justin is full of BS. Time he leaves the office.
I never thought I would say I’m embarrassed to be Canadian.
Wtf .... that's not what we want
He could care less
Good credit isn't a down-payment. Another out-of-touch non solution.
What about all the U-Hauls I have rented overtime.... could that be added to my credit score. Can we go back and add all my Block Buster rentals also. Their going to have to increase the credit score level at this rate like maybe 0-1,000,000.
More surveillance. This is a move to check up on landlords to see how much money they are collecting for rents.
And make sure that people pay their rent.
No, we need LESS surveillance and less taxes. What we need more of is development of our industries, and less restrictions on that
Exactly!!!! No thank you for more surveillance.
hopefully
@@Toronto_LudditeSo wait, you support the idea of more surveillance?
Most Anyone who rents should get a good credit score . If they don’t, they get evicted
i am on disability! This does absolutely nothing! We need rent increases stopped and lowered! Have Caps added! He is so tone deaf!
Exactly ❤I'm too on disability
His policies are the cause of the inflation in the first place.
annual rent increases such as Ontario's 2.5% 2024 rate are under provincial jurisdiction. That means FORD not Tru-dough. Honestly, people have no idea which levels of government are responsible for various things.
As if Ford is going to do anything about finding afforable housing for the disabled.
How is keeping credit score going to help the disabled???? As always They forget about the most vulnerable.
How about stop propping up the massive housing bubble and let it deflate naturally to bring down rent prices? Quit kicking the can down the road.
We simply need a heck of a LOT more houses and a heck of a LOT more AFFORDABLE apartments!!! How does this help?
Mortgage companies also are not required to report to the credit bureau. Would be nice if that was also required.
What a joke.
Credit score means nothing at all when the price of houses are insane.
Joins CCP & Global Communism tho!
Doesn't doanyth8ing for the lower income people and seniors on a fixed income, and these are the ones most hurt by the high rents, especially in Vancouver>
What about people forced to share rental accommodations?
This is ridiculous! wake up Toronto voters!
I didn't vote him and I live in Toronto. Most of us didn't
Je just wants his hands in everything we do . Renters and owners
Exactly...thanks , but not thanks.
Who care about credit score, I thought he is giving tax credit to help renters , what a load of crap
As usual with Trudeau: Much ado about nothing. Rent is NOT borrowing money. You pay 1st and last when you move in. Miss a payment and they evict you.
He'll give money to anybody who will vote for him
he mentioned young people are paying too much, likely he's targeting them because they are not smart enough to know better.
I would never vote for him anyway, but he really isn't helping himself by alienating such a huge portion of renters.
Using our money, to buy him vote, so disgusting
Thats the stupidest thing..how is that helping renters???
How about free ice cream for everyone
So what tools will you provide for lanlords with tenants that stop paying?
Social credit score ......nothing to do with house prices . What a waste of time!!@!
Why is this guy whispering
asmr is the new transatlantic
Yeah, I'm not a fan of how he talks, either. It's like he's reading a bedtime story.
He's taking after Joe Biden.... in all ways
He is such an naive person. The problem is not credit score, it is the affordability my friend
Ya right. AFTER rents have doubled the turd decides to do an announcement and photo opp. And there will be no action on anything.
He did apply his acting skills with the 'mean-face look' almost outdoing Zoolander's 'Blue Steel'
Chinese social credit score here we come!!!! EF you Trudumb!
Is he talking about building houses. Why is he talking about rent. We are paying higher mortgages. Come on Trudeau give us a break. Canada became one of the world’s worst countries.
You think Canada is bad. Come live an anglo life in Québec. It's a war between the CAQ and the people.
asking a narcissist for a break? hah you've never had it so good, stop being ungrateful to the supreme leader truedope
Landlords providing the rental price history for rentals is absurd. No wonder so many are getting out of the landlord business. Too much bureaucracy and red tape.
This will just further screw renters.
Why not set a limit for the lanlords they keep hijaking the prices.
Because that would mean making it impossible for renters to keep up with their own costs. The best course of action is the scrap the carbon tax, eco tax, reduce taxes altogether, put a cap on minimum wage to prevent the middle class from falling out of the middle class and stop wasting our money on things like MAID, DEI, online censorship trash, the Paris Accord and other garbage of the sort. Invest in our industries and rebuild our country. But that's not the liberal's nor the NDP's goals.
As the interests rates, utility rates, property tax and maintenance cost rise so does the landlords financial responsibility. The problem lies at the top of the food chain... everyone else is just a victim.
As a landlord this is good news!! Better quality tenants. Expect rent prices to increase more, what a time to be a landlord
More credit.... so renters can go further into debt? This is not an economic solution whatsoever.
Huh. CBC left the comments on…unusual…😐
how long more before trudeau is a memory
That's not enough for single parents and low-income people we need the rent to be reduced at least 70% it's absurd insane people cannot make it
Is this like his carbon tax BS?! This also does nothing just more from the traitor
using the word traitor removes all the credibility of your comment
@@marshhen how so?
ah - in other words, paying rent on time helps one's financial trustworthiness in the future? How long have Credit Scores been around?
Credit score is the chinese system ,he is following orders from Klaus Schwab.
Supply and demand, quit letting people into the country
More credit to go further in dept so they can take you for money you dont have an eww more taxes for them ,they seem to get stupider everyday
Trudeau needs to go after the companies that do the rentals. Don't give us more credit. That means I own nothing but debt.
He needs to stop spending so interest rates drop and make it easier and cheaper to build homes so landlords can lower rents
You don’t seem to grasp the fundamental definition of credit here, it has nothing to do with your available credit.
@@TheTechnoPilotWoke much ?
Justin you don't make any sense ,you can't spend money you don't have , there is enough deficit already
The credit score is the Chinese system , Marxism , globalism . People wake up , he will say and do
anything to stay in power , he can't be trusted. Do we need more socialism ? WE can't afford more taxes .
and that is the result of socialism ,
It should have been recognized long ago.
Won't make a difference as the banks look more at how long you've been steadily employed and you net cash flow (shows your responsible with money) all this will do is get you a gas card or a HBC card
If government does not want to build more homes or does not want to remove obstacles so people would build homes themselves, then the government announces a number of meaningless measures. 😊
Still doesn’t lower rent and still can’t save enough to put a down pmt for a house let alone the 3000$ plus mortgage what a clown kick him out
The money has broken
credit score isnt the limiting factor in renters not being able to buy. I'm sick of these BS token gestures.
The people want you OUT - JT!! Pierre is our new ROCKSTAR PM!
How about placing a law that landlords can’t raise the rent to rediculous amounts so people don’t end up homeless ?!! Because this is why is happening right now ! Not all renters want to own a home that they will have to still pay “property taxes” tax on something they’re sapose to own !!
Welcome to the _system_
Sounds great. Call an election right now.
Calling an election right now , will be a great idea .
Wait, I was renter for 5 years and never reported to credit bureau and my credit score was enough to get mortgage. So how this will make difference. We just gotta pay credit card bills, utilities bills etc and can have solid credit score. Our PM should go to kindergarten
Wonder why rent is so expensive…? 😂🙄
what a Goof!
This is just another way of getting ESG established. Another metrics to add to the surveillance
Grasping at straws, poor Trudeau.
Why not just make housing affordable
Make it like the US mortgages tax deductible and the landlord could reduce rents,not too complicated.
This policy is being made to monitor the people kind.