HOUSING CRISIS | Renters in Toronto struggling with skyrocketing cost of units
Вставка
- Опубліковано 25 сер 2024
- Renters in Toronto say the skyrocketing cost of units in the city in addition to high inflation is creating a housing crisis.
Subscribe to CTV News to watch more videos: / ctvnews
Connect with CTV News:
For the latest news visit: www.ctvnews.ca/
For a full video offering visit the CTV News Network: www.ctvnews.ca/...
CTV News on Facebook: / ctvnews
CTV News on TikTok: www.tiktok.com...
CTV News on Twitter: / ctvnews
CTV News on Instagram: / ctvnews
CTV News on Reddit: / ctvnews
---
CTV News is Canada's most-watched news organization both locally and nationally, and has a network of national, international, and local news operations.
It’s not a crisis, it’s a catastrophe.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
I recently sold my home in the Boca Grande area and am considering investing a lump sum into the stock market before the anticipated rebound, couple of folks have been discussing a potential May rally, speculating on which stocks may experience substantial growth during the festive season. Do you have any insight into which stocks these might be?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
I’m intrigued by your experience. Could you possibly recommend a trustworthy advisor you've consulted with?
Finding financial advisors like Margaret Johnson Arndt who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
She appears to be well-educated and well-read I ran a google search on her name and came across her website; Thank You for sharing.
admitting international students has to be stopped
Did you ever stop to think that international students pump hundreds of thousands of dollars into Canadian universities?
Not in people's pockets dud! More crimes, car hijacks, gun shut, homelessness, depression, teen suicidals, parent separations, and finally darkness to the future of CA ...
@@351528at the expense of citizens housing and jobs.
@sprinkle1605 I don't think you're aware that international students pay much higher tuition than domestic students. Therefore, universities make the business bulk of their income from international students.
@@351528 Did you ever stop to think that a generation ago, Canada was ranked as one of the best places to live, work and study?
A hard lesson to learn that elections have consequences. You would have thought that Ontario would know better after Wynne and McGuinty but obviously not.
Ontario has a conservative premier... what are you complaining about now?
@sidb9540 my post should have been fairly self explanatory to anyone capable of critical thought. You obviously don't apply to that group.
@@ryanoliver9475I don't see how your post is self explanatory. You say the voters should have learnt a lesson from voting Liberal and apparently they did and voted conservative but the issue is worse then ever.
@JeremyMacDonald1973 they voted Conservative provincially and the problems you are now living through is because a federal Liberal government, some of them involved in the Ontario Liberal gov that they voted out.
@@ryanoliver9475 If you could type half as clear as your wise talk, perhaps a few( very few) would take you half serious!
Housing in Ontario is a provincial issue. what has the conservative government done to make life easier here when it comes to housing affordability?
Supply and demand issues have 2 sides, stop increasing demand
I hate to break it to folks. But most of the Canadian population (66%) are already home owner's. So they make all of the rules and don't want affordable housing because they love skyrocketing property values. The line has been drawn. You own now or you will rent from them as a modern day slave. There is a reason why we build non-stop condos. So investors can buy them to rent.
Yes
Great
And STILL, nobody will mention the demand--side of the housing equation...which the govt. has immediate and complete control of. How long will everyone pretend that we don't know the cause of this problem?
The problem is too less immigrants so the government is bringing more immigrants. The solution for all Canadian problems is more immigrants 😢😅😂
You can kind of see one part of the problem. Despite her complaints, the lady is just smiling and accepting things for what they are. That just breeds confidence for landlords squeezing them even more. It's a vicious cycle.
And landlords are squeezed by the banks. It always ends up in the Central Bank and Government hands.
Blaming landlord is what exactly what goverment want you to think.
Where is she supposed to go?
it looks more like a bitter smile when you have no other choice but to accept it
Confidence for landlords?
As a landlord my costs have increased because of rate increases.
Don't blame landlords for what the government has caused.
I live in a 2 bedroom in shawinigan quebec for 600.00 a month . Ontario prices are insane
This is what a vote for Trudeau gets you. Enjoy.
Province controls all the laws and regulations around housing. This is why places like Quebec have been comparatively successful while BC and Ontario much less so.
Don't forget Stephen Harper 😉
@@SarcasticLittlePrick
No one went homeless or struggled to find housing under Harper. This is on Trudeau.
@@shauncameron8390They did though. Yall were just blind to it because you liked that he was conservative.
Inflation measurement should include rent and housing price growth so you can have a clear picture of what is actually going on in Canada.
Cap international students . ....it is getting out of hand
It is all by DESIGN 👈
That's why Canada is a cruel country - this is 100% purposely done and kept this way, by design and it WILL keep it that way.
It's all by poor management and incompetence in government in several portfolios at all.levels.
@@tracyallen7020 10 years ago if you said that it could be forgiven as naive. Today, you're just ignorant to believe that and in a real way you are now part of the problem. This is kept this way by very clever management and very competent levels of government.
Its a result of bad policies since the 90s, stopping all government funding for purpose-built rentals in favour of single family homes in the suburbs
@@tracyallen7020 You're naive dear.
My rent went up $900 dollars in two years. $300 last year, $600 this year.
Did you vote for Ford? Then you deserve it BAHHHHH Life is always more miserable adn expensive under con govts
@@bonbonvegabon did ford print trillions of dollars and bring in millions of immigrants with zero planning?
And its only going to get worse
Thanks Trudeau for allowing the housing bubble to grow without control...
thank Doug Ford
thank capitalism
No Thank Trudeau.@@stephenedgecock
I'm often seeing blame pointed toward Trudeau and yet not one person can say what he did wrong.
Cons love blaming Justin for conservative govt terrorism@@casual35
i love trudeau, he's doing great! 500,000 immigrants annually. let's keep voting for him so we can pay more !!!
More than that. They miscounted another million this year plus almost a million international students. It's crazy
What happens to the Conservative Party? They will correct the problem by treble the immigrants because they have more investor friends than the Liberals
It's got to be the interest rates passing on to the consumers.
Going to do all this on a liberal 4 day work week
Y'all wanted a liberal world? Enjoy.
I live in a conservative riding that actively votes against any housing development. Stop blaming one party when this is systemic
Do you know who runs these in Toronto dum**ss?
Who lays out these tenancy laws? Some dudes didn’t pay rent for 18months and still not got evicted!? No one wonders landlords are quitting. It’s Ford and he is a conservative, isn’t he?
@@codechartreuse The issue is all over Canada so federal problem.
@@paramstream
Toronto is a Liberal/NDP utopia regardless of who the Mayor or Premier is.
we are empty nesters with a five bedroom home.. i would never let a deranged stranger rent in my home...
Let's just say how it is, 600,000 new immigrants per year...It's not hard to do the math, no wonder...
Last time I checked, they let 2M come in 2022, and 96% are international students.
@@louissehighlights6783
And foreign students are exempt from the foreign buyers' ban.
A lot of immigrants with money don't seem to care what things cost That is what is destroying Canada. We want educated and skilled immigrants. Not wealthy immigrants or immigrants with inheritance money that drive up prices.
My friend just sold a recreation property for $ 162,000 and it only cost him $ 82,000 just 18 months ago. He did nothing to it and its just a shack in the middle of nowhere Alberta.
I worked in landscaping for a few years and would work in subdivisions entirely filled with muslims that barely speak English how does this happen ?
@@codechartreuse I always thought if your gonna come live in Canada and be successful you would have to integrate yourself into the country like learning the language and stuff like that but apparently not they just let wealthy immigrants in who don’t need to do that.
@@sharktooth7966
English proficiency isn't enforced like French proficiency is for those wanting to live in Quebec.
Your description says "Renters in Toronto say the skyrocketing cost of units in the city in addition to high inflation is crating a housing crisis." This appears to be correct.
I may be naive, but I don't know when or even why everyone got so greedy. Whatever happened to the idea of a 'fair' market value? The landlords are just taking advantage of low supply.
Low supply partly due to government meddling.
You are naive , how about tenants who use the law to avoid paying rent . Landlords like anyone else , will charge what the market will bare .
You would do the exact same thing , so spare the moral judgements
@@troyzieman7177 “you’d be greedy too!” What a solid argument.
@laylawinehouse4954 you are looking at this only through the tenants perspective . There is allot of unethical tenants . Just blaming landlords is an unobjective view
@@troyzieman7177
Frivolous and entitled.
It's outragious especially for low income workers
That's just a small price to pay to live in one of the most desirable cities in the country.
Just moved to Vancouver and got a great deal on a 1 bedroom+den for only $3200! 😂
Nice sarcasm!
Thanks for reporting on what we already know....whats the point of reporting this....nothing will change
Toronto has always been outrageously prohibitive.
In 2003 a 2 bedroom was only $750/month 😂
Not really. 5 years ago I was able to afford A 1 BEDROOM! $1300/month Apartment by myself while my fiance was in between jobs. So I paid the rent alone. Now (separated) I was looking In the same area and a bachelor costs $1700/month and up...tell me that's not messed up
$3300 for a 2 bedroom? That’s not a great deal
then what is? $500? what's wrong with you this is the market
If rent is to high in Toronto, you can always move to New York.
LOL
I wonder what the LTB looks like now.
Probably a lot of non-paying tenants just squatting lol.
yes it takes a landlord a year to get rid of tenants for no rent payment
It's a 2 year backlog. Hence why there are fewer and fewer places to rent.
The land is too valuable for any builder to consider this.
Also, The anual rent increase guide line went from 1.5% in 2017 , to 1.2% during the pandemic, was 2.6% last year, and it will be at 2.5% this year. The landlords are saying it is well below the inflation rate increase... Renters unite, we want 0% anual rent increase guide line for 2024 and Rent caps: No increase on the cost of units when someone gets renovicted or evicted to make space for the new renters in the market! We want rent caps!
@@Johnny.Reb13 Thanks for your balanced reply. We are all in the same boat, the next few years, will be painful.
The mortgage interest rate, property tax, and utilities have all gone up crazy. Landlord has to balance the increased cost.
insane, $300 increase each month?
Thank Trudeau for sending 650k new immigrants to Ontario last year.
Start by not letting in so many immigrants.
Vote LIBERAL and NDP for more of the same. They just don't get it.
@@codechartreuse
Rent control only benefited existing renters, not those trying to find housing.
Sounds criminal to me !
The real problem is multiple home ownership!
Nationalise the housing market and all private sectors. Governments should control entirely the cost of living. Cap rent, food etc. Done.
Time to move Marx
perhaps you prefer everyone to be homeless who cannot afford to buy or rent? @@tracyallen7020
And say HELLO to nationwide shortages.
which is already the case@@shauncameron8390
@@AlexLifeson1985
Thanks to rent control. Rent control = less housing available and higher rents on whatever didn't get rent-controlled to death.
In Calgary I along with 160 households in my complex were met with, and most forced out by a 37% increase by a very large and uncaring company of money hungry P.O.S.
TTC is great housing for the homeless.
Just press on the landlords a little more and there won’t be any rent at all!
And there are shameless employers offering 45K/PA. LOL. I tend to laugh on their face
Im looking for a new job now and the pay hasnt budged since 2008
The solution should be to stop allowing foreign ownership. If you don’t live in Canada, you can’t own property. Many countries do it as a way to stop housing and rent from skyrocketing.
Exactly! 💯💯💯
3300 a great deal?
I got a great deal on a 1+den for $3200 😂
Admittedly COVID was a massive x-factor so stuff equalizing in the post-pandemic period isn't surprising.
Doesn't make it suck any less, though. It's not like there were simmering problems prior to the pandemic that were going to bear ugly fruit at some point, the pandemic may simply have accelerated or altered the situation.
Remember: tenants don't need a landlord, the landlord needs the tenants to pay their mortgage. We should be building more co-ops, and socialized housing.
You could not possibly be more wrong. Most rental units are owned by corporations and could not care less about what the average renter like yourself thinks, they will charge as much as the market will bear. In a housing shortage like there is today the amount of qualified renters looking for housing far exceeds the supply. Hence the rental prices increasing everywhere. If you think it is expensive now wait another decade or two. Rent will be at least double what it is today.
Wrong! Tenants need landlords, because they're in no position to provide their own housing especially in the city.
@@markadler8968 Maybe its time to start expropriating some of that corporate-owned housing to be made available as public housing, co-op, or not for profit housing.
@@shauncameron8390 landlords hoard housing and restrict supply which contributes to higher rents.
@@Meyers1793
But no one's a bigger landlord than the government.
The tyson guy.
Nice
Don't move to Toronto or Montreal.
Rent is still way too cheep. To make money what do you think rent on a $2M condo should be? Just the interest is 5K-6K a month.
And wage is still way too low. To make enough for living what do you think wage with a $2600 rent should be? Just the tax is 1K-2K a month.
Yeah that's interest on your borrowed money that you should pay back not use someone else to pay back and complain..
It's just disgusting.. you couldn't afford an investment purely for profit and abundance so you prey on the backbone of the society, those who clean up after you.. disgusting and shameful..
@@tomd3514 you have no concept of investment or operating a business do you.
Provide tax incentives for smaller landlords, allow small landlords more ways to evict tenants which failed to pay rents or have anti social behaviour. It would open up a lot more supply
One world responsible for all of this “Justinflation”
Squueze what little drops remain. Guess everyone wants more but when no more can be squeezed a 1933 crash will come. Reminds me of UA-cam channel hydrologic press 😂
Obviously the morgage rate is high and supply demand , build more house plus condo, apartments plus lift hst on house build and most importantly strict capital gain tax by implementing a strict law by forcing anyone have 2 property and decided to sell one must pay capital gain tax 😅but I know the corrupt political won't do it because the builder are lobbying
Canada wants the immigrants to keep coming so they can live in somebody's basement and help pay for the homeowner's mortgage.
Meanwhile 18 million dollars to Israel
Normes salaire expérience Canada citizen care about a little themselves separate litigation not too much selfishness
Lol like having a house vs renting is even a choice for most ppl
It is if they insist on living in the big city.
How bout them carbon tax going🤣
"hijab jane": now you know why will smiths mad
Well I would not wait for trudeau and his minions what they are going to do. Wtf
This is the new justin's canada
Yep. And the landlord takes on the risk of buying, fixing, maintaining and servicing the property. That's called private property, and it's the foundation of any free society. Don't like it, leave.
capitalism leads to housing issues
And evil con govts
Lack of government oversight and regulation leads to failed markets
Lol name a better system of government!
@@offbrandonbrand
But Canada's problem is too much oversight and regulation.
Dumb take. It's the government and central banks
And the dumbnut will fight India. 😂
Indians need to be deported, too many Indians here
If you voted for Trudeau, you voted for taxation. Enjoy the results as the weather evolution rages on... despite your money being taken every time you turn around!