The ownership rate doesn't really tell the whole story. Population in 2016 was less then todays and I would love to know the actual amount of increased homeowners instead of a percentage. 20% foreign buyer tax nearly eliminated foreign purchases, foreign buyer ban until 2027, massive increase in permanent migration as well as temporary workers and students. If we had the same immigration level as 5 years ago, prior to mass immigration, if the homeownership rate would tell a difference story.
The reason there's 29 percent single dwellings ownership is they cannot put up with the rest of people in their private space in any wacky stressed out city.
What I don't totally get is how the BC NDP are still strong in the polls and likely to win again unless the United and BC Conservatives combine which is slim. I get most Renters likely support the NDP but most existing owners and most who plan to buy would likely not support NDP and 64% households are owner occupied. I only voted NDP once many years ago when I was a student but as soon as I started working and paying taxes, I turned conservative fast. Are there really that many working professionals who would actually vote NDP in 2024 ?
@@richchay For government workers of the early 2000s, 90s, and before yes but the ones today are a big mix. Many joined the public sector in their mid career from the private sector grind and have that mentality to steamline the process and work hard. Some older or lifers in government are still inefficient yes but there are a lot who grind including most Project Managers and Designers for example at say BC Hydro, Metro Vancouver, municipalities, etc. Obviously a larger topic but just saying I do know government workers including union ones who do vote conservative too.
Insightful stats. Will be interested to see your analysis of the actual effect this proposed renters bill of rights stuff could have. I'm no real estate expert expert but it looks like useless nonsense??? or end up to hinder renters in some new ways?
Hearing today this rent price cap proposal likely moving forward (no increase above mandated amount even in between tenants). If this happens I’m for sure out on my rentals.
With the new rules for mortgages being 4.5x your income, I feel like they’re just making it harder for people to get into a home. The government is keeping people on the rental cycle so they can “help” them. I notice a lot of ppl have given up or just don’t want to sacrifice to get themselves into being a homeowner. They don’t realize like what you said in prior blogs, it’s financial suicide.
Socialism 101. The NDP want's to keep people renting.. that's their voter base, they don't want homeowners because owners have more financial power and independence and don't need to rely on Government for help and assistance programs... in other word they loose voter support from homeowners and those with better financial situations. Remember everyone is a socialist until you get a little bit of success in your life.
Nope, its actually the other way around. The government wants more homeowners so they can reap more house tax. More homes mean more income for the government.
I don't think that the figures are that much bad for a country that receives hundreds of thousands of immigrants every year. But the real problem is the astronomical figures in house prices. Why are the prices of houses made of wood at these levels,when prices are not this high even though they are made of reinforced concrete anywhere in the world? I think the point we need to address is this is the real place..., Best regards
Yep.. that's why the NDP is building all these new market rental apartments and scrapping almost all the new condo development in Downtown Vancouver. Keep you poor and in that rental quicksand for life! These small 1 bedroom rentals are going to be 3K + a month 2 beds at $4000K + 10 years from now everyone will be wondering where it all went wrong. Lot's of high priced rental apartments but to buy that condo you could purchase today at $1100 a sq ft is not $1400-$1500 a sq ft and that's if you can even find one as nothing new is getting built as far as strata in Downtown Vancouver from this point onward.
![Lp. Сердце Вселенной #30 ДВА В ОДНОМ [Один человек]• Майнкрафт](http://i.ytimg.com/vi/nrXy15orKhY/mqdefault.jpg)
One of my favorite channels. I really appreciate your insight though out all these years.
Same!
The ownership rate doesn't really tell the whole story. Population in 2016 was less then todays and I would love to know the actual amount of increased homeowners instead of a percentage. 20% foreign buyer tax nearly eliminated foreign purchases, foreign buyer ban until 2027, massive increase in permanent migration as well as temporary workers and students. If we had the same immigration level as 5 years ago, prior to mass immigration, if the homeownership rate would tell a difference story.
The reason there's 29 percent single dwellings ownership is they cannot put up with the rest of people in their private space in any wacky stressed out city.
What I don't totally get is how the BC NDP are still strong in the polls and likely to win again unless the United and BC Conservatives combine which is slim. I get most Renters likely support the NDP but most existing owners and most who plan to buy would likely not support NDP and 64% households are owner occupied. I only voted NDP once many years ago when I was a student but as soon as I started working and paying taxes, I turned conservative fast. Are there really that many working professionals who would actually vote NDP in 2024 ?
I'm baffled by it as well.
lots of unions and government workers who have a big base of NDP
@@richchay For government workers of the early 2000s, 90s, and before yes but the ones today are a big mix. Many joined the public sector in their mid career from the private sector grind and have that mentality to steamline the process and work hard. Some older or lifers in government are still inefficient yes but there are a lot who grind including most Project Managers and Designers for example at say BC Hydro, Metro Vancouver, municipalities, etc. Obviously a larger topic but just saying I do know government workers including union ones who do vote conservative too.
138000 owners is that it?? That is not very impressive. We are on a trajectory to only "affordable rentals".
Govt is dumb .. they
Never think long term problems which I can see
Owen, I love your channel. Everything you say is 100% accurate. Keep up the good work!
Insightful stats. Will be interested to see your analysis of the actual effect this proposed renters bill of rights stuff could have. I'm no real estate expert expert but it looks like useless nonsense??? or end up to hinder renters in some new ways?
Vote buying
Yep, with our money@@cdnsilverdaddy
Always great content here! Always facts! Thank you 🙏🏾 Owen
Hearing today this rent price cap proposal likely moving forward (no increase above mandated amount even in between tenants). If this happens I’m for sure out on my rentals.
Thank you
With the new rules for mortgages being 4.5x your income, I feel like they’re just making it harder for people to get into a home. The government is keeping people on the rental cycle so they can “help” them. I notice a lot of ppl have given up or just don’t want to sacrifice to get themselves into being a homeowner. They don’t realize like what you said in prior blogs, it’s financial suicide.
Socialism 101. The NDP want's to keep people renting.. that's their voter base, they don't want homeowners because owners have more financial power and independence and don't need to rely on Government for help and assistance programs... in other word they loose voter support from homeowners and those with better financial situations. Remember everyone is a socialist until you get a little bit of success in your life.
Nope, its actually the other way around. The government wants more homeowners so they can reap more house tax.
More homes mean more income for the government.
I don't think that the figures are that much bad for a country that receives hundreds of thousands of immigrants every year. But the real problem is the astronomical figures in house prices. Why are the prices of houses made of wood at these levels,when prices are not this high even though they are made of reinforced concrete anywhere in the world? I think the point we need to address is this is the real place...,
Best regards
In 2030 own nothing and be happy about it?
Yep.. that's why the NDP is building all these new market rental apartments and scrapping almost all the new condo development in Downtown Vancouver. Keep you poor and in that rental quicksand for life! These small 1 bedroom rentals are going to be 3K + a month 2 beds at $4000K + 10 years from now everyone will be wondering where it all went wrong. Lot's of high priced rental apartments but to buy that condo you could purchase today at $1100 a sq ft is not $1400-$1500 a sq ft and that's if you can even find one as nothing new is getting built as far as strata in Downtown Vancouver from this point onward.