Toronto Housing Crisis... Canada Market Update
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- Опубліковано 13 чер 2024
- Toronto's Housing Market and Economy is in a MAJOR Crisis... Olivia Chow attempts to revitalize the downtown core by meeting with CEOs. But is it enough to tackle the rising safety concerns, traffic chaos, and overall dysfunction in the city? Taxpayers in Toronto footing a $71,000 monthly bill to store modular homes intended as temporary residences. How did it come to this, and what does it mean for our housing crisis? How are municipalities contributing to the housing crisis? From jacking up development charges to mismanaging funds, we unpack the actions making it harder for affordable housing to become a reality. The latest rent report is out, and it’s not looking good. Find out how rent prices are skyrocketing, hitting record highs in major cities like Toronto and Vancouver. We delve into the federal government’s desperate measures to manage interest costs on debt and the implications for taxpayers. From carbon taxes to potential changes in capital gains tax inclusion rates, get the inside scoop. Learn about the rising popularity of equity release programs among Canadians over 55. Could this be a viable solution for financial relief in today’s tough economic climate? All this and more on this episode of Ruffled Feathers! Join us as we discuss these pressing issues and more. Make sure to like, subscribe, and share your thoughts in the comments below. Don’t forget to check out our latest episodes on UA-cam, Spotify, and Apple Podcasts. Enjoy the show and Happy Father's Day to all the amazing dads out there!
At OwlMortgage.ca, we’re reframing mortgages. Gone are the days of daunting contracts that laden you with debt. Our educational and empathetic approach considers your needs and wants from your home to make it work for you. We offer a helping hand regardless of your learning style or where you are in your home-buying journey. Whether you're self-employed, salaried, or retired, and looking for a first home, renewing, refinancing or consolidating your debt, the team is here to help.
📩 vince@owlmortgage.ca | (416) 613-5363
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#mortgage #mortgagebroker #realestate #housingmarket #canada #interestrates #politics #toronto #ontario #canadianeconomy
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How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances
Svetlana Sarkisian Chowdhury is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
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Elect socialist politicians, win stupid prizes.
Olivia is barely a social democrat, nowhere near a socialist. I’m begging you chuds to learn what socialism actually is.
Yeah an economic depression and sovereign debt crisis bundled into one… winning
That's gold Jerry, gold
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I'm surprised you know her too. I've been making a lot of profits investing with her for a few months now.
l also invest with Mrs.Elizabeth Frankel, she charges a 20% commission on the profit made after each trading session, which is fair compared to the effort she put in to make huge profits.
.This is not the first time I am hearing of Mrs.Elizabeth Frankel in the trading world but I have no idea how to reach her..
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The people deserve the government they elect.
what did you expect from the NDP??? LOL
someone must be benifiting, thats why they keep getting elected
Be happy to pay taxes.dont be cheap canadians thats what you voted for socialist 😅😅😅😅
We all tried to warn you in toronto.. now your stuck.. dont ask for help your the richest city in ontario
I was born and raised in Toronto to Italian immigrant parents. I made the move to Italy 10 years ago and never looked back. I recently visited Toronto and noticed a real decline. When you travel the world, you realize how lame Toronto is. It definitely doesn't deserve the high cost of living. Most people would rather live elsewhere.
Toronto voters knew she was going to be a failure and elected her. Voters get what they voted for. Get used to her failing, she will do it often
She won with the lowest level of %.
If Tory would've come out sooner and backed Bailo/we didn't have 200 ppl running for mayor, this wouldn't be happening.
Broke ppl voted for her. She's doing great for them
Your just a hater she is the best thing to happy to Toronto :D
😂😅😂
That’s how everyone felt about Trudeau at first! Then his decisions started to affect your pocket book! Lol! Enjoy Toronto!
First of all- re-name all the "offensive" streets. Isn't that the #1 priority? Yes people are getting shot and stabbed. But first things first.
Why is stupidity always at the forefront of thinking rather than common sense. I don’t get this world.
Evil is childish. Its meant for space.
Toronto is the armpit of Canada
Brampton in the bum crack
@@xxrudebouyxx1363 Brampton way better than Toronto, I wouldn't go downtown Toronto unless I really had to.
What does that make Hamilton then?
@@xxrudebouyxx1363 When I bought my house, I had a choice between Brampton and Toronto. Let's just say Toronto's $10k land tax turned me off completely. I felt Toronto City Hall was a bunch of Communists, who would tax me more, and make up additional taxes as the years went by. Boy am I glad I followed my instincts!!!
@@MarkPylypczakHamilton is the greatest city in human history
Elections have consequences. Next time there is an election perhaps the apathy of Toronto voters will be reduced and people will stop being too lazy to go vote. A tiny fraction of Toronto voters showed to vote and that's how Chow got elected.
Haha funny I bet next time they will vote for communist party and being woke is mandatory to receive any social benefits or jobs good luck
It is not good for buyers. You bro bullshiting as well. Prices for housing doesn’t make sense in Canada. Thanks to speculators who call themselves”investors” all properties prices are ballooned and at least 30% above the real prices. Noone should be able to speculate on essential need for every Canadian family. If anyone who owned more than two properties must be taxed more. Speculators, private or corporate must be pushed to sell units in which they didn’t live. It is an emergency situation now. High housing prices benefit few and suck money from the real economy
Good point.
Easy credit and government spending has inflated prices to where they are. And this government's solution is to increase taxes.. Its a complete joke. How about making government more efficient...that's too far too much work I guess. Taxing hard working Canadians is easier...makes my blood boil !!
Stop paying foreign buyer rent.
And refuse to move. That’s the protected move by lltt. 8 months free rent. Selling our country to other countrys is really a shit show for the Canadians eh.
Only 1 like. Really that just proves this is a given by utube. They have me blocked. Fuck them
Good luck!!! Even they don’t report rent income nor paying tax according to non resident status
@@alaalrashaeideh1154 i hear you
Welcome to Socialism, Canada. Brought to you by your elected officials.
Toronto is Seattle 2.0
Canada is Communist now. Let's just call a horse a horse. Canadians need to wake up.
What do you think socialism is?
@@PurasamaManSocialists want to invest public control of property in some central authority, such as the state-or the state under the guidance of a political party, as was the case in the Soviet Union. State funded welfare for all, that's the dream. Unfortunately, it's never successfully achieved in any meaningful way. Usually the economy collapses shortly after.
The bike lanes are the most absurd thing I've ever seen. Outside of the dt core, nobody's using them, on many streets they are washed out and hard to read and understand, I wonder what it will cost yearly to maintain them.
There is a group of people in Brampton that smell like doo doo
Not just Brampton...
what needs to happen is the people need to force legislation that keeps politicians accountable for performance and financial prudence, cause the politicians aint gona police themselves - just dont know how sweeping changes take place without some sort of conflict
Chinada is Trudeau's dream country
Same senario in Vancouver. Traveling up from the aiport to downtown CBD, you go miles and it is like being in Hong Kong/Shanghai. The official percentage of ethnic Chinese in greater-Vancouver is (ha, ha, ha) just 13%, when it's really over 20%. But in some areas it's 60-80%.
I’m sure China is doing better at this point. The worst is a liberal socialist electorate that is driven by lobbyists and greed.
Governments and snake trudeau are sick people
@@markferguson7563 There's a huge percentage of Caucasians in Hong Kong that work there in the financial centre and you won't see Chinese people think it's a problem.
what is wrong wit that?
Nice rant. No precons being built, rent up, but then nobody buying resale. So supply and demand both tracking downward. Which one will blink first?
I know the project manager for the rentals at duferin and bridge land (old holiday inn) are a subsidiary of black rock and the rents there start at $3000/month. These aren’t affordable apartments. All of Yorkdale parking lot is going to be luxury apartments on stilts. They want everyone as a renter in the future. They are doing this wasteful spending and raising taxes so people are force to sell and investment corps are going to scoop housing up and monetize it.
Management in Canada’s cities is below the basement
Bike lanes should be illegal in a country that has winter for 5 months when it is unsafe to bike. Most of people do not bike. Canadian cities are too spread out for biking to make any sense.
Used to live to Toronto. Loved it. However, glad to see it's falling apart. The radical left is the most destructive force this country has ever seen, and we have to pay the price for it. Toronto, lead the way!
How about the Mayor bringing back her own staff to City Hall and Metro Hall? Both buildings are empty all week long.
Chow doesn’t know how to function as mayor, it’s just her playing pretend ….
More Lefty LARP-ing
Toronto voted her in, what's wrong with Torontonians?
@@user-si9bz3dl6m They are brain dead. My son calls them Crispy Parents
She is Chinese hello
@@user-si9bz3dl6m interference ya
They are not spending blindly. These contracts for homes, construction, etc. go to friends, colleagues and future possible employers. It is all nepotism. And the loser public just eats it up.
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Natalie Strayer
I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
I'm new at this, please how can I reach her?
Her good reputation already speaks for her .I’m also one of the beneficiary of Natalie Strayer. So happy I gave it a trial after being skeptic of the process.
Thank you for such a truthful, informative video. Canadians are suffering.
I am a Toronto Downtown delivery driver. I can confirm what you are saying about the insane traffic every day because of all these stupid bike lanes reducing streets that had 2 lanes to one lane. What I don't get is why they have streets that run parallel to each other and both have bike lanes and they are just blocks apart sometimes. Also look at the disaster they did to Palmerston blvd when they put in bike lanes. From bloor to college (recent work), it now runs in 5 different directions (one ways in opposite directions). 5 blocks, 5 different directions! Only one of those blocks is a 2-way street. Before, the whole 5 blocks was a 2-way street. And the funny thing is that most cyclists don't even use it. They prefer streets like shaw (just a few blocks over) that runs further north and south with bike lanes (that was already there before this govn came into power).
Next year, they will put bike lanes on 401 & QEW.
If they didn’t put in bike lanes you would complain about bumper to bumper traffic and not moving at all. The core is growing its population fast and you can’t expand the roads so you need a better way to move more people. At some point if it keeps growing at this pace they’ll need to start charging a congestion charge to encourage more drivers to seek alternative ways of travel.
@@sharinglungs3226Are you cognitively impaired?
Mortgage delinquency rates in Ontario exceed $1B as well. I'm sure its nothing...lol
Solid points. The inmates are running the asylum.
As reported in this video, Toronto is a mess. It’d appeared that the Planning department is working overtime to promote traffic congestion. University Ave is reduced to one lane. The two lane Kennedy Road is now reduced to one, giving up one lane to buses that run every 10 minutes. Olivia Chow is preoccupied with Ontario Place and tax increases at a time when homeless people are taking over the city.
Vince.... stupidity happens because there is no accountability for their spending. These idiots should be fired.
jailed
I’ve been asking for years” WTF is affordable housing” I want some too
Over 40% of MPs r landlords. They don't want affordable housing. Their assets would go down. BTW, stay out of Toronto! I live 2 or 3 hrs north of Toronto, 6 acres, brand new house, appraised $310,000.
It’s a shame what’s happening in our cities! Cities are broke and it getting worse!
So another words Toronto's becoming a lot like a Vancouver California and Philadelphia this does not surprise me
If I didn’t have to worry about the vacant home tax, I would lock up my house and leave this town.
The Canadian government hasn't done nothing to make housing affordable for Canadians.
But if keep bringing in immigrants faster than we can create infrastructure won't that make the situation better?
TO, you got what you voted for! 😅
If you want to know the why, find out the who. Who got the temporary home contract, and who is getting the storage fees. Then find out who’s cousin in government they are.
Whatever happens house prices need to come down. The capital gains tax should help increase inventory and hopefully help discourage greedy home investors eating up the supply. No matter which way the pendulum swings itll effect someone, somehow. Eitherway people don"t deserve to be slaves to the banks. We can create housing supply and lower demand other way, this building more houses media panic is BS.
Spoken from the heart. Thanks for explaining the facts about housing costs.
Great show tonight Vince,love it when you start loosing it.Keep it coming (might not be too good for your health though,LOL) .. The crash is coming and i have my popcorn ,should be a good show.
Here's a story you won't believe, I called the city with regards to my water bill as it has skyrocketed, while on the phone I also asked, just how much so I pay for this small garbage receptacle, which we use to get a $10.00 rebate for if we managed to use the small one, are you ready, are you sitting down, nearly $300 per year. From a $10.00 rebate to nearly $300 a year.
At least we have 2,000 feet of fruitcake flag at Hanlan's Point.
Government budget model: Find new ways to spend. Find new ways to collect.
Absolutely
I've been in RGI housing for 15 years and use the food bank exclusively for all my food. I go nowhere, do nothing, spend nothing. I have an internet connection and a cell phone as well as cable TV all through the Connected for Success program which makes it half the price. I've got two degrees in computer science and IT management and can't get a job since I haven't been able to find work other than temp jobs doing cleanup in construction sites for the last twenty years. My annual income is $11,300 a year.
I love your direct honesty. Thank you.
😊
We need more ppl like you in this world. 😊😊
the AGENTS are still behaving badly...and thinking it is just like it used to be.
I recently retired. I could no longer afford to rent in Toronto. I left Canada to live abroad. I rent a small, but beautiful apartment which is a 10 minute walk to both a tropical beach and a modern supermarket. Everything including , rent, cable, internet, water, electricity and even health insurance, comes to approx. $620 CDN a month. Add another $620 a month for food, and you can live a pretty good life outside of Canada for $1,250 per month.
I am not going to name the place where I live because there are other countries out there that are just as reasonably priced, or even more so. Just do your own research to find out where.
Canada is only for the wealthy now! Time to look elsewhere!
Welcome to 3er WORLD . .
So, has high unemployment, low wages, and high interest rates, banks are implementing tight credit policies, credit card debt is rising consumer bankruptcies are at a 20-year high and record-high property tax increases. Record municipal deficit I the billions of dollars, the Eglington has still not been completed and is 5 years and billions of dollars over budget with no transparency on what the issues are or when they will be fixed. Why would you think people could afford houses?
excellent
Thanks
Let's put bike lanes on Yonge and Bathurst as well as putting them back on Jarvis. Why don't we put bike lanes on the garden as well!
Doug Ford is insisting on single family homes that cost far more in terms of infrastructure and make everyone car dependant. As someone with a pure remote job who got rid of my car i want more multiple dwelling unit centered walkable communities. Not more townhomes stretched further and further out. Thank the lord for pure remote work, I have been car free since March 2022 and havent missed city driving 1 day.
Sounds like someone need to learn how to play Sim city
That should be a prerequisite to working in city planning…I shake my head every time I see some of these city planned developments that are obviously destined to fail their intended purpose.
I live about 2.5 hours from Toronto, and used to love it. Right now you could pay me to go to that s**tshow.
God save canada
LOVE U soooo honest
What a mess!
Lol. Bullshit.Thanks for bringing it to light.
i never understood why so many bike lanes in a country that is 75% snow weather
The worth part is when you have lots of bikers on streets with no bike lanes, totally unsafe and blocking traffic. Downtown Toronto is not designed for cycling and doesn't have the safe space for it.
Just stumbled on your channel; you just got a new sub! Love the content
Wheres the smoke for John Tory and the absurd zoning laws?
Need Better Mayor,
I hope people remember this but most wont
you are so true
Yes, unlimited tax, tax, tax…..
Great episode. Thanks for this.
Thanks
Jesus! This country is a disaster, the Economy is a disaster, Crime & Punishment disaster, Immigration disaster, Housing disaster etc.
I wouldn't be Prime Minister unless I had Dictatorial power, it's the only way to get the Country back on track and moving in the right direction.
Common Sense seems to have packed up and left Earth. Idiotic policy after policy at all levels of Government across this country.
My faith in Democracy is almost exhausted, it just doesn't work in real life, not to mention the Inherent corruption. If I took over the Federal Govt. tomorrow my first act would be to Investigate corruption in the Trudeau Govt. The guilty would be charged, tried in a court of Law and if found Guilty, the punishment would be swift and brutal.
Thank you for your honest comments
I feel secondhand embarrassment when I hear Chow speak.
Folks folks folks folks folks... and folks folks folks... don't forget folks and folks
It’s not even close to usa cities count your blessings boy
We will not live to see affordable housing so I think people should move on from that dream.
Affordable housing means 30% of minimum wage salaries you do the math and wake me up when you find a basement apartment for that price 😂
Don't forget the Toronto Star out there cheerleading for more spending and taxes
Great point!
The Red Star? You read that Commie Rag?
Saw this coming from a mile away.
They are giving 5 Billion to Ukraine 😂
You are funny. Everybody knows that Olivia wants as many biking lanes in TO in order for people to start using public Trans.
This is socialism !
People bought few houses of Covid relief money of CRA as investors. There is no housing shortage. I know friends having ten condos.
Canada is a banana republic. !!
Not warm enough, more of a Soviet Socialist Republic with a Monarch twist 😂
The fouckin place is fouked.
socialists always go to commies..
Vince what will rent be in 4 years ? How high can it go !!!
Sadly, they are not building the required homes needed to meet the needs of newcomers so my guestimate is it will be higher...how high? It would depend on regional markets.
If you wish to understand this, sir, I recommend reading about the decline of the Soviet Union. It will make perfect sense. we let them in in the late 70s and 80s 90s it’s a revolving door of Soviet communism, which leads to incompetent management and decline
Chow should be working in a tug parlor at best, not running the biggest city in Canada
You are awesome. 😊
Wow. So right, fubar..
Add placement on your vids are super annoying
Why put Olivia Chow’s face on the thumbnail? This problem has been created by generations of politicians of every political stripe.
We need to revolt
I think all levels of government do care what the taxpayers think and feel. We need a shakedown of the public sectors to start rebuilding Canada.
😂
Get rid of the Dragon lady asap.
right but who voted her in?