They just need to ease up on immigration for a few years and allow supply to catch up with demand. I'd like an explanation why we need immigration levels this high, there is no benefit to anyone at this point.
They claim we don’t have replacement for our aging population but have done nothing to incentivize citizens already here to have children. Instead, they’ve made having a child a significantly more expensive problem, and pushed culture that doesn’t want children. All those immigrants are gonna get a nasty surprise when they want to have a family at these costs.
The argument is that our birthrate is below replacement level so you need younger people from somewhere to fulfill the entitlements of the baby boomer generation. Sucks short term but you need a growing population in the long term.
Immigration is not a problem, 30 years of not building affordable housing is. While everyone is now talking about the need to build more housing units, it is just talk. There are no real prospects for significant increase in construction. If anything, the situation will be getting worse as aging construction workers retire and young people don’t go into building trades to replace them.
@@seanyoung5397the problem is the social services is a ponzi scheme and you’ll always need more at the bottom paying for the people at the top using the service. Baby boomer gen is just too large to keep the ponzi going. We would be better off reducing entitlements until that gen is much smaller so we cab have a more sustainable growth.
Here's an idea: cut immigration and reduce demand. Why won't the so-called "representatives" even entertain the idea? Thought they were supposed to represent Canadians?
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The solution is simple. Create a 200 billion dollar capitalization account using printed money. The government builds homes through contractors in Canada or the US fast and sells them at cost. You flood the housing market and the apartment market to destroy prices. Not lower prices. It's do or die now. Food might go up but we make food in Canada and you do in the US and it is to our advantage to not be able to afford food from other countries. If we live in very cheap housing. And if the federal government simply creates a capitalization account and spends money on contractors to build subdivisions and sells them at cost, then puts that money back in the account they are not borrowing increasing their debt. This is an extremely powerful tool. The fastest way to fortune for a country. But here you have to be protectionist and close the borders while you go for zero homelessness. It is an emergency. NO immigration they will come for free houses and want to be one of your dependents. No refugees same. We have our own emergency in progress. 200 billion in a capitalization account. Spread across the country. Take back Canada. Take back USA. Then with destroyed housing costs no poverty. And more disposable income. We can do anything then. Everyone deserves a house like their daddy had when they were young. Subdivisions apartment buildings destroy the cost of housing take it away as a bank instrument of the rich. It is housing not an investment vehicle. You can only buy one and it has to be your principle residence. This is a new kind of housing is all you tell them. You see we just tell everyone it is to house the homeless. But we don't stop with them, we keep going until the price of housing is completely destroyed! And we all have dirt cheap cost of housing and nice houses nice new houses. 3 Bdrm. 1,2, and 3bdrm apartment buildings. And do it fast entire subdivisions like after the war. For the win. Spread the word. Get it done. Unless we have a plan like this when BRICS currency hits and the IMF is done, then we are done as individuals. This can create hype a construction boom, jobs, then disposable income then manufacturing as people buy, more jobs, and more disposable income. And a baby boom. We build 5 bdrm No immigration. And anyone who is in a high priced house can sell even at a loss and buy a cheaper house at cost. Maybe nicer house. Slaves did not arrive in Toronoto to pick cotton. 97 million while our own people die in the gutter. A baby boom that is what people need. What women would want. Stay home with the kids. Take our countries back!
This would make everyones wage go up by 2.6 times the current wage .Which would mean the cost of housing would go up to cover the labor cost . A carpenter makes 45 an hour today , which would eqaute to that same carpenter making $117 an hour . Now your current 800k home would cost 2 million plus for the average home. When minimum wage goes up, so does inflation. I think the solution is to learn more skills and keep minimum wage jobs for students. The moral of the story is that minimum wage can never be a living wage.
Yes but many students are stuck in min wage because the programs they studied don't offer stable income, or even hire them because no experience. You can't wait around to eat, pay rent, utilities, phone,medical bills etc. And student loans/credit debt puts you behind.
@@Vas12-x6y That's on the students themselves. Should have known better that the job market wasn't checking for a person with a degree in (insert marginalized group of the day) Studies.
I'm more than minimum wage and with all the insurance and new taxes always being introduced on top of inflation, Im barely living paycheck to paycheck, and I'm not an outgoing person
You can raise the minimum wage to 200$ an hour but if there are no rules in place to control the rent price then nothing is going to change so cut the crap and start tackling the real problem
The primary issue is and always has been supply. Relax the zoning to allow mixed use and high density rental apartments, tax credits and density increases to developers for purpose built apartment rentals, incentives for adaptive re-use conversions of office/hotel, and public transit to make it all liveable
I think the problem is that housing is in the hands of developers unfortunately. Profit will always come before people, and until there are caps on rent prices (i.e. allowing marginal returns on profit because it is passive income, taking into account mortgage landlords have to pay). Then we can really see how much the banks are at fault for all of this as well instead of shifting blame onto homeowners. The housing market is not like any other industry, because it is an essential good, it needs regulation.
@@mrbbqlvr4274 I mean though when I was a minimum wager it was $7. Now it’s close to $20. They got a near 100% raise in the time that I got less than 20%. I would argue the inflation came from low skill workers making too much money. I know with rents and stuff low wages are unsustainable but at the cost of devaluing the jobs of everyone around them.
Historically this has never been available to minimum wage people. That is why people have shared apartments for generations. I agree its a nice goal but it is hardly new. Rent was 1% of a building value on a 50 year average until the last 20 years where it has decreased by about 30%. The problem is that wages have not kept up with inflation not greedy landlords.
I agree that the regulations have to be implemented. Here is how: 1. rent control - based on marked price per square foot of the public housing, with allowance of plus up to 10%. This must apply to ALL rent types (high-rise and homes). If the rent in the public housing goes up, so does in the private sector. 2. mandatory contract with tenant - if tenant can proof payment to the landlord, but landlord cannot present a contract signed by both sides, tenant can, after getting ruling from the tenant board, move to another unit of similar size (bachelor, 1 bedroom, etc.) and if the new unit has more square feet, former landlord should pay the difference as long as the tenant stays in the unit keeping the same conditions, e.g. no third parties added. This will keep landlords away from renting without contract, which contributes to raising prices at will and many times not paying taxes. 3. excessive taxation of 2nd and on units - designation of cottage zones is needed (far from cities of course) and than whomever owns two of more units in non-cottage zone, should be excessively taxed, let's say 40% of the value of the property a year. Surely, if you have money to keep extra properties, you will. If however someone just took the properties off the market via questionable arrangements with real-estate agents and credit institution, will not be able to afford them. Especially with rent control and requirement of rental contract in place. This will force a lot of properties to be sold and quickly, therefore prices will drop. 4. developers must to develop - annual quota has to be enforced on developers for the number of units build each year to keep the permit to operate. Management and owners of the companies which fail, must be legally banned from doing business for period of at least 10 years. 5. creating communities - make as many as possible new properties available as rent-to-own. This will restrict agents from buying units before the building is even build for pricey resale later. Contract should acknowledge that person has to live continuously in the unit for let's say 20 or even 25 years before receiving ownership and, most importantly, does not accumulate any carry-on value in case if wants to move out. This will force people to pick the place close to where they need to be (e.g. work) and will keep them there for long time. Within this time they will know their neighbors, which will translate into more settle and secure communities. ALL THE ABOVE MUST BE IMPLEMENTED ALL AT THE SAME TIME TO WORK!
That’s the dumbest idea. It will only decrease the rental stock. Why will anyone want to invest in rental property with such a stupid control by government over their assets. All the investors will leave and invest in US or other countries. People on left are the dumbest people alive. You guys need to understand that you can’t control investors. They will just dump your property market and there will be no rental unit left in Canada
@@wishteria234 Yes I do. And so far it seems that after my whole life of work, I'll be forced to the retirement on the street. That's because prices of residences are being speculatively raised up, and my taxes are funding luxury downtown social housing living for prostitutes and drug addicts. Something is wrong. Don't you think?
Sadly a lot of the other parties are on board with this unsustainable population growth. I was really disgusted by con leader Pierre P when asked about if the immigration levels are too high, he deflected to we need to build more housing. Then he admits we currently are far behind what’s needed and the pace we’re going we have no chance of getting there.
Linking rent to minimum wage is great to illustrate the problem. And it is a big problem. The reality is that we get paid, at best, an amount related to what our work contributes to the income of a company. I have noticed, that as cities in crease un size, as the population increases the costs u creas faster. Leave toronto!!!! Go where there are no suvways to get stabbed on, go where rhere is no risk of getting shot on the street. Keave the cesspool!
@@Wilsonsam04 No they don't. They have some serious personal finance issues if they need more money to survive as in higher taxes imposed on non-government workers.
you know councilors and mayor and parliamentarians increase their wages according to the inflation while the rest of the citizens can not even get close to that
Increase rate, increase inflation. When people fail to qualify for a mortgage that is plus 30% year over year, they turn into renting. Therefore raising rent to 11%. Higher cost, landlord increase rent. What is more important in life? A bag of chips that cost maybe 50 cents more which translates into an inflation of 10% or ..... Higher mortgage that make you lose 1000$ more per months. The bank of Canada wish to help you save 20$ on your grocery to fight inflation, but instead, make you lose 500 to 1000$ monthly due to rent and mortgage with the interest hike. Failure bank of Canada, and can't wait for Tiff to leave Bank of Canada
If you flooded the Toronto rental market with 10 percent more demand from a now affordable group of higher minimum wage earners, what do you think would happen?
It could never , ifminimum wage went up to 40 , then tradesmen wages would go up by 2.6 times . So a 45 an hour carpenter would earn over 100 an hour plus
Since when should a minimum wage worker expect to rent their own apartment in a large city? I don't see the benefit of this analysis unless the objective is to increase bureaucracy. Anything you subsidize, you create more of... let the single parents sort out the mess they created
That was my thought when clicking on this video. I understand the value in doing the calculations but the takeaway should certainly not be “raise minimum wage radically”.
Do you know some single 😢 parents are widows , pple like me with 3 little children alone in the world...still they are under 11yrs elementary school, hw can you leave them go work 2 jobs to afford 2 bedroom Apartment as no longer agrees to rent 1bedroom in Toronto..dts sad. High cost if living
@@ebuzoemelynda5769 I agree with you. Widows are victims of circumstances. I think the previous comment was talking about all the lack of family values out there where baby mamas are now becoming the norm. As for housing, this is a problem created by artificially low interest rates, laundering money from especially China, foreign buyers, Airbnb, and all the people who are banking on becoming mom and pop landlords.
@@seanyoung5397 All due to government policy. Foreign laundering and buyers = lax immigration laws. AirBnB = lopsided rental laws which made long-term rentals no longer viable. Corporate landlords = zoning restrictions which made housing costly to build with corporations being one of the only entities in any financial position to take on the task.
Amazon only pays around $20 per hour so its classed out of many apartment rental rates by $10. In reality, Amazon should be paying its associates an hourly rate of $40 to $50 per hour minimum.
If u are single parent n have more than 1 child how can u live in 1 bedroom apartment. People will soon stop investing if they cant offered rent. There are so many building that are not rented....that shouldnt be allowed.
Because those cities don't have the top schools we go to? Along with the job market and coops we need. Do you think every major city is only for the older and rich? Dumb comment.
@@kevinsouza7744 I know how frustrating it is, but there is no way the government is going to force small businesses to pay their employees 40 an hour. That's insane.
@@dm95422 Anything is possible with the government. This is the same government that put a lot of small business under with its mandates while big business was allowed to carry on as usual.
Not before they ban rent control and allow landlords to evict problematic tenants in a timely manner. After all, Air BnB is the end result of government meddling.
A single mother who's working a couple of jobs, cant even think about buying a home 😅 thanks Canada, it's been great living here !!!!! Can't wait to recommend this country to my family and friends 😅
No more minimum wage increases. Some people and business are taking their unfair share of the wealth since the 2000s. Things were cheap while people minimum wages were 7 dollars. Not 13 and not 15. It doesn’t help anyone to force some sort of minimum wage. Market forces should be in charge of the wages not mandated by government.
I kind of agree with minimum wage and affordability being separate. But this inflation borderline hyperinflation, is not from increasing minimum wage. It's from overprinting currency and a hot market of high demand with low interest rates
Why so hard to find a good paying job while minimum wsge should be raised its so hard to live of just $ 15 $ 16 dollars while tte crime rate are starting to rise
"for a person to COMFORTABLY rent a 2 bedroom". It may just be me but I'm sorry, I have a hard time agreeing that 1 person working minimum wage should be able to comfortably rent a 2 bdrm in Canada's most expensive city.
Minimum wage used to be for young people with no skills and experience. Not for full grown lazy entitled adults. If you been in the job force for over 3 years and still making minimum that’s your own fault.
What I tell people. No one makes minimum wage at my workplace, if your a good worker you get non-mandated raises. If your an full-grown adult and have no education or skills, that's your own fault. I can train a cashier in a day, no skill required just scanning and pressing buttons. I have 2 degrees and work retail lol, no where near minimum wage.
immigration has nothing to do with minimum wages , if people choose to work on low in come , thats on them , you choose that job nobody is forcing to work there , if you have a trade in engineering or being doctor or other skill trades then thats even better , but people cry and complain about minimum wages thats there own fault for working there .... dont complain about immigration none sense it has nothing to do with wages , it's the people who too lazy to have proper skills and dont want to work on the wages that are given to them , so there for if thats the case , then you need to bring people from other countries to fill the gap since the locals are very much lazy to do the jobs !
Yes lets also give the people that are currently getting 40 an hour a raise to 100 an hour as well because clearly degrees or education don't matter anymore.
FWIW, I never, EVER EVER rent to a minimum wage worker or newcomer to Canada. The risks are just too high of them not paying their rent for months on end. The landlord/renter laws in Ontario SUCK and it makes renting out places hard. Min wage workers and newbies KNOW the game, they know the tricks and usually stop paying rent as they are aware u cant just kick them out.
Do like the Punjabi community and go triple stack bunk beds, two to a bunk, and 3 sets of bunk beds to a room. And, rotate sleeping with those working night shifts.
Do you think even if he owned investment properties he acquired them sitting on his ass? How much did he maybe compromised in his life of his time, money and work. It’s easy just to complain about successful people and do nothing about yourself
@@Mehmed317 Lol. If you don't know there are a lot of people who sit on their asses while owning tons of perperties, then you are just ignorant. And just for the record, I immigrated to Canada when I was 14, worked my ass off to learn a new language and get collage educated. I earn a 6 figure salary and could easily double or tripple it if I move down to the states, where there is a real economy and the realestate market is not just giant ponzi scheme...And that's exactly what I am planning on doing!
@@Mehmed317 OK, let's rephrase the Q: How many investment properties do you own pre-2019 vs how many you bought now? Right I thought so. The arrogance and audacity of people currently in a full time and/or stable long-term career and that have broken into the housing market to lecture younger generation "you just gotta work harder, bro!" Respectfully, fukc off
this actually should be a emergency, but it wont , because it doesn't effect rich people
They just need to ease up on immigration for a few years and allow supply to catch up with demand. I'd like an explanation why we need immigration levels this high, there is no benefit to anyone at this point.
It benefits the people who already own properties...who will vote for the policy they want.
They claim we don’t have replacement for our aging population but have done nothing to incentivize citizens already here to have children. Instead, they’ve made having a child a significantly more expensive problem, and pushed culture that doesn’t want children.
All those immigrants are gonna get a nasty surprise when they want to have a family at these costs.
The argument is that our birthrate is below replacement level so you need younger people from somewhere to fulfill the entitlements of the baby boomer generation. Sucks short term but you need a growing population in the long term.
Immigration is not a problem, 30 years of not building affordable housing is.
While everyone is now talking about the need to build more housing units, it is just talk. There are no real prospects for significant increase in construction.
If anything, the situation will be getting worse as aging construction workers retire and young people don’t go into building trades to replace them.
@@seanyoung5397the problem is the social services is a ponzi scheme and you’ll always need more at the bottom paying for the people at the top using the service. Baby boomer gen is just too large to keep the ponzi going. We would be better off reducing entitlements until that gen is much smaller so we cab have a more sustainable growth.
A million new people a year into Canada, it's no wonder why our hospitals our at max capacity and there are no homes to rent...
Let’s cut down on immigration for a while until we can get back on track.
That was before mass immigration started in Canada
@@TorontoMillenial lmao no.
Ev1 making min wage needs to form their own national union, and set a date in the near future to walk off the job together...demand lower rent prices.
You increase minimum wage, the rent will go up along with it
Not to mention everything else. Oh wait, isn’t inflation a problem?
Small businesses would cut staff hours and there would be many layoffs.
Accordingly.
With minimum wage in 2010 in Toronto, people used to afford 1 bdr apartment with no Roommates.
depends where you lived.
Only in the least desirable parts of town.
If minimum wage is that much, you'll see a lineup of applicants outside McDonalds! Lol
Here's an idea: cut immigration and reduce demand. Why won't the so-called "representatives" even entertain the idea? Thought they were supposed to represent Canadians?
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The solution is simple.
Create a 200 billion dollar capitalization account using printed money.
The government builds homes through contractors in Canada or the US fast and sells them at cost.
You flood the housing market and the apartment market to destroy prices. Not lower prices. It's do or die now.
Food might go up but we make food in Canada and you do in the US and it is to our advantage to not be able to afford food from other countries.
If we live in very cheap housing.
And if the federal government simply creates a capitalization account and spends money on contractors to build subdivisions and sells them at cost, then puts that money back in the account they are not borrowing increasing their debt.
This is an extremely powerful tool. The fastest way to fortune for a country.
But here you have to be protectionist and close the borders while you go for zero homelessness.
It is an emergency.
NO immigration they will come for free houses and want to be one of your dependents.
No refugees same. We have our own emergency in progress.
200 billion in a capitalization account.
Spread across the country.
Take back Canada. Take back USA.
Then with destroyed housing costs no poverty.
And more disposable income.
We can do anything then.
Everyone deserves a house like their daddy had when they were young.
Subdivisions apartment buildings destroy the cost of housing take it away as a bank instrument of the rich. It is housing not an investment vehicle.
You can only buy one and it has to be your principle residence.
This is a new kind of housing is all you tell them.
You see we just tell everyone it is to house the homeless.
But we don't stop with them, we keep going until the price of housing is completely destroyed!
And we all have dirt cheap cost of housing and nice houses nice new houses. 3 Bdrm.
1,2, and 3bdrm apartment buildings. And do it fast entire subdivisions like after the war.
For the win. Spread the word. Get it done.
Unless we have a plan like this when BRICS currency hits and the IMF is done, then we are done as individuals. This can create hype a construction boom, jobs, then disposable income then manufacturing as people buy, more jobs, and more disposable income. And a baby boom. We build 5 bdrm No immigration.
And anyone who is in a high priced house can sell even at a loss and buy a cheaper house at cost.
Maybe nicer house.
Slaves did not arrive in Toronoto to pick cotton. 97 million while our own people die in the gutter.
A baby boom that is what people need. What women would want. Stay home with the kids.
Take our countries back!
This would make everyones wage go up by 2.6 times the current wage .Which would mean the cost of housing would go up to cover the labor cost . A carpenter makes 45 an hour today , which would eqaute to that same carpenter making $117 an hour . Now your current 800k home would cost 2 million plus for the average home. When minimum wage goes up, so does inflation. I think the solution is to learn more skills and keep minimum wage jobs for students. The moral of the story is that minimum wage can never be a living wage.
Yes but many students are stuck in min wage because the programs they studied don't offer stable income, or even hire them because no experience. You can't wait around to eat, pay rent, utilities, phone,medical bills etc. And student loans/credit debt puts you behind.
@@Vas12-x6ywell thats 100% the students own fault for choosing to study a course that has no future..
@@Vas12-x6y
That's on the students themselves. Should have known better that the job market wasn't checking for a person with a degree in (insert marginalized group of the day) Studies.
I'm more than minimum wage and with all the insurance and new taxes always being introduced on top of inflation, Im barely living paycheck to paycheck, and I'm not an outgoing person
40 is ludicrous
You can raise the minimum wage to 200$ an hour but if there are no rules in place to control the rent price then nothing is going to change so cut the crap and start tackling the real problem
Rent control does not work especially if you're a person looking for housing.
Minimum wage has barely changed for over 20 years.
Instead of going to college, i should have gone to the school of money laundering and drug manufacturing. I would be farther head.
Lot of us already knew this calculation to live comfortably in Toronto and Vancouver. Just a reaffirmation from an expert.
The primary issue is and always has been supply. Relax the zoning to allow mixed use and high density rental apartments, tax credits and density increases to developers for purpose built apartment rentals, incentives for adaptive re-use conversions of office/hotel, and public transit to make it all liveable
I think the problem is that housing is in the hands of developers unfortunately. Profit will always come before people, and until there are caps on rent prices (i.e. allowing marginal returns on profit because it is passive income, taking into account mortgage landlords have to pay). Then we can really see how much the banks are at fault for all of this as well instead of shifting blame onto homeowners. The housing market is not like any other industry, because it is an essential good, it needs regulation.
What about the people that make more than minimum wage and can’t afford rent?
For some of them, rent is the least of their problems.
If you’re going to raise minimum wage to what I make as a trades worker, I want my salary doubled.
viscous cycle!
@@mrbbqlvr4274 I mean though when I was a minimum wager it was $7. Now it’s close to $20. They got a near 100% raise in the time that I got less than 20%. I would argue the inflation came from low skill workers making too much money. I know with rents and stuff low wages are unsustainable but at the cost of devaluing the jobs of everyone around them.
It's not going to happen lol
@@nunol1554 obviously
so someone in a smaller town can live like a king on $40 an hour but someone in a large city gets to scrape by?
Historically this has never been available to minimum wage people. That is why people have shared apartments for generations. I agree its a nice goal but it is hardly new. Rent was 1% of a building value on a 50 year average until the last 20 years where it has decreased by about 30%. The problem is that wages have not kept up with inflation not greedy landlords.
What about your car payments insurance you guys have know idea
DEBASEMENT OF THE DOLLAR FACTS
Lamoo so if minimum wages are going upto $40 per hour, median wages workers will get paid $100 per hour?
Still not enough
I agree that the regulations have to be implemented. Here is how:
1. rent control - based on marked price per square foot of the public housing, with allowance of plus up to 10%. This must apply to ALL rent types (high-rise and homes). If the rent in the public housing goes up, so does in the private sector.
2. mandatory contract with tenant - if tenant can proof payment to the landlord, but landlord cannot present a contract signed by both sides, tenant can, after getting ruling from the tenant board, move to another unit of similar size (bachelor, 1 bedroom, etc.) and if the new unit has more square feet, former landlord should pay the difference as long as the tenant stays in the unit keeping the same conditions, e.g. no third parties added. This will keep landlords away from renting without contract, which contributes to raising prices at will and many times not paying taxes.
3. excessive taxation of 2nd and on units - designation of cottage zones is needed (far from cities of course) and than whomever owns two of more units in non-cottage zone, should be excessively taxed, let's say 40% of the value of the property a year. Surely, if you have money to keep extra properties, you will. If however someone just took the properties off the market via questionable arrangements with real-estate agents and credit institution, will not be able to afford them. Especially with rent control and requirement of rental contract in place. This will force a lot of properties to be sold and quickly, therefore prices will drop.
4. developers must to develop - annual quota has to be enforced on developers for the number of units build each year to keep the permit to operate. Management and owners of the companies which fail, must be legally banned from doing business for period of at least 10 years.
5. creating communities - make as many as possible new properties available as rent-to-own. This will restrict agents from buying units before the building is even build for pricey resale later. Contract should acknowledge that person has to live continuously in the unit for let's say 20 or even 25 years before receiving ownership and, most importantly, does not accumulate any carry-on value in case if wants to move out. This will force people to pick the place close to where they need to be (e.g. work) and will keep them there for long time. Within this time they will know their neighbors, which will translate into more settle and secure communities.
ALL THE ABOVE MUST BE IMPLEMENTED ALL AT THE SAME TIME TO WORK!
no, over taxation, do you work and pay taxes?
Please take an IQ test.
That’s the dumbest idea. It will only decrease the rental stock. Why will anyone want to invest in rental property with such a stupid control by government over their assets. All the investors will leave and invest in US or other countries. People on left are the dumbest people alive. You guys need to understand that you can’t control investors. They will just dump your property market and there will be no rental unit left in Canada
@@wishteria234 Yes I do. And so far it seems that after my whole life of work, I'll be forced to the retirement on the street. That's because prices of residences are being speculatively raised up, and my taxes are funding luxury downtown social housing living for prostitutes and drug addicts.
Something is wrong. Don't you think?
That's the dumbest thing I ever read. I think you should be a Canadian politician.
You get what you voted for.
Sadly a lot of the other parties are on board with this unsustainable population growth. I was really disgusted by con leader Pierre P when asked about if the immigration levels are too high, he deflected to we need to build more housing. Then he admits we currently are far behind what’s needed and the pace we’re going we have no chance of getting there.
And then they feel the burn when Canada turns to France 😊
"Just get better jobs" is a great sentiment as long as your city doesn't need store workers, cleaners, affordable restaurants, etc...
Linking rent to minimum wage is great to illustrate the problem. And it is a big problem.
The reality is that we get paid, at best, an amount related to what our work contributes to the income of a company.
I have noticed, that as cities in crease un size, as the population increases the costs u creas faster.
Leave toronto!!!! Go where there are no suvways to get stabbed on, go where rhere is no risk of getting shot on the street.
Keave the cesspool!
government workers need to STOP GIVING THEMSELVES RAISES
government workers need more money to survive than non government workers.
@@Wilsonsam04
No they don't. They have some serious personal finance issues if they need more money to survive as in higher taxes imposed on non-government workers.
you know councilors and mayor and parliamentarians increase their wages according to the inflation while the rest of the citizens can not even get close to that
They also cause the inflation... great trick!
Increase rate, increase inflation. When people fail to qualify for a mortgage that is plus 30% year over year, they turn into renting. Therefore raising rent to 11%.
Higher cost, landlord increase rent.
What is more important in life? A bag of chips that cost maybe 50 cents more which translates into an inflation of 10% or ..... Higher mortgage that make you lose 1000$ more per months.
The bank of Canada wish to help you save 20$ on your grocery to fight inflation, but instead, make you lose 500 to 1000$ monthly due to rent and mortgage with the interest hike.
Failure bank of Canada, and can't wait for Tiff to leave Bank of Canada
Thats exactly what BoC would want
If you flooded the Toronto rental market with 10 percent more demand from a now affordable group of higher minimum wage earners, what do you think would happen?
Minimum wage moving to a Journeyman tradesmen pay? Safe to say the government has completely failed.
It could never , ifminimum wage went up to 40 , then tradesmen wages would go up by 2.6 times . So a 45 an hour carpenter would earn over 100 an hour plus
$10 more to go to hit $50, we can do it...go Canada go
Lol, 40 dollars per hour wage?
Let's see who makes that.....
Talk about Justin flashon
How is this remotely sustainable?
Since when should a minimum wage worker expect to rent their own apartment in a large city? I don't see the benefit of this analysis unless the objective is to increase bureaucracy. Anything you subsidize, you create more of... let the single parents sort out the mess they created
That was my thought when clicking on this video. I understand the value in doing the calculations but the takeaway should certainly not be “raise minimum wage radically”.
True but that would mean people taking accountability
Do you know some single 😢 parents are widows , pple like me with 3 little children alone in the world...still they are under 11yrs elementary school, hw can you leave them go work 2 jobs to afford 2 bedroom Apartment as no longer agrees to rent 1bedroom in Toronto..dts sad. High cost if living
@@ebuzoemelynda5769 I agree with you. Widows are victims of circumstances. I think the previous comment was talking about all the lack of family values out there where baby mamas are now becoming the norm. As for housing, this is a problem created by artificially low interest rates, laundering money from especially China, foreign buyers, Airbnb, and all the people who are banking on becoming mom and pop landlords.
@@seanyoung5397
All due to government policy. Foreign laundering and buyers = lax immigration laws. AirBnB = lopsided rental laws which made long-term rentals no longer viable. Corporate landlords = zoning restrictions which made housing costly to build with corporations being one of the only entities in any financial position to take on the task.
30% is not realistic. Show a home owner that only uses 30%
Amazon only pays around $20 per hour so its classed out of many apartment rental rates by $10. In reality, Amazon should be paying its associates an hourly rate of $40 to $50 per hour minimum.
So someone who puts stuff in a box and tapes it up should be making $50 an hour?
If u are single parent n have more than 1 child how can u live in 1 bedroom apartment.
People will soon stop investing if they cant offered rent.
There are so many building that are not rented....that shouldnt be allowed.
why does anyone making minimum live in Toronto? You are crazy. Move to Timmins, or Thunder Bay, or Moncton.
Because those cities don't have the top schools we go to? Along with the job market and coops we need. Do you think every major city is only for the older and rich? Dumb comment.
@@gipsydanger5020
If you want to live in a major city, time to pay up.
@@shauncameron8390 Spoken like a true greedlord and or typical hedonistic Canadian that doesn't care about his society and fellow citizens
$40 p/h minimum wage ??? NO WAY !!! Joke of the year !
You think that's a good joke? I got an even better one for you, get ready for it............. 800K for a rundown Condo.
@@kevinsouza7744 I know how frustrating it is, but there is no way the government is going to force small businesses to pay their employees 40 an hour. That's insane.
@@dm95422
Anything is possible with the government. This is the same government that put a lot of small business under with its mandates while big business was allowed to carry on as usual.
DEVELOPERS who are making LUXURY HOMES should be TAXED+ OUT MORE.
DEVELOPERS who make AFFORDABLE HOUSING should be given a Tax Break.
For what? Developers make luxury homes, because thanks to local NIMBY's and zoning laws, that's are the only housing they're legally allowed to build.
@@shauncameron8390
Then the government is deserving the people who voted them.
Increase the tax bracket. And the new supply always targeting "young professionals", new supply must be for affordable housing.
They should ban air bnb
Not before they ban rent control and allow landlords to evict problematic tenants in a timely manner. After all, Air BnB is the end result of government meddling.
A single mother who's working a couple of jobs, cant even think about buying a home 😅 thanks Canada, it's been great living here !!!!! Can't wait to recommend this country to my family and friends 😅
lol single mothers are not the standard affordability should be measured with.
@@brucewayne3892
My sentiments exactly.
put a cap on wage gap and this will be solved. maximum wage shouldn't exceed say 50-100 times the minimum wage.
Like in Cuba where much of the population live in squalor?
@@shauncameron8390a world where people don't pick their profession because of how well its compensation is a better world.
@@Commandos12
Cuba has that. Taxi-drivers and prostitutes earn more than doctors and engineers.
No more minimum wage increases. Some people and business are taking their unfair share of the wealth since the 2000s. Things were cheap while people minimum wages were 7 dollars. Not 13 and not 15. It doesn’t help anyone to force some sort of minimum wage. Market forces should be in charge of the wages not mandated by government.
I kind of agree with minimum wage and affordability being separate. But this inflation borderline hyperinflation, is not from increasing minimum wage. It's from overprinting currency and a hot market of high demand with low interest rates
1 bedroom? Lol I can’t even find a studio or basement suite to live alone anywhere
Just need 1 million new canadians annually. Its obvious this is the way.
Nice work Trudeau!
Wrong. Just stick four people per bedroom. Problem solved.
That is extremely uncomfortable living.
But now living outside of the city is expensive
Because everyone with the privilege to work from home wants to live out there.
It’s not ppls right to live in a city.
Why so hard to find a good paying job while minimum wsge should be raised its so hard to live of just $ 15 $ 16 dollars while tte crime rate are starting to rise
Because a good-paying job requires you to have more than just the bare minimum in skills.
California's taken all yall down with us
Board with 3 friends, that is one solution.
I know many people paying 70 percent of thier monthly wages for rent. Not the 30 percent you are stating its much worse now
Your right even working full time isn't enough anymore. I pay 67% of my wage to rent and the rest to debt payments
Minimum wage means Minimum of everything
"for a person to COMFORTABLY rent a 2 bedroom".
It may just be me but I'm sorry, I have a hard time agreeing that 1 person working minimum wage should be able to comfortably rent a 2 bdrm in Canada's most expensive city.
Minimum wage used to be for young people with no skills and experience. Not for full grown lazy entitled adults. If you been in the job force for over 3 years and still making minimum that’s your own fault.
What I tell people. No one makes minimum wage at my workplace, if your a good worker you get non-mandated raises.
If your an full-grown adult and have no education or skills, that's your own fault.
I can train a cashier in a day, no skill required just scanning and pressing buttons.
I have 2 degrees and work retail lol, no where near minimum wage.
@@Tjd1982Many cashier jobs have disappeared. Most have self-service checkouts.
@@bmoshareholderappleshareho855 Not at my workplace, we did get 3 selfcheckouts, but no-one had hours cut. Old people hate self-checkouts.
@@bmoshareholderappleshareho855
Namely the chain stores.
Just move... its too expensive. You can leave for a cheaper city.
Not if you don't have money
@@aliasfakename2267
That didn't stop your grandparents from moving when they couldn't afford to live in the city anymore.
Key word here is AVERAGE. Minimum wage is below average salary wise, so it's normal that the average rent in beyond reach...
"it's normal that the average rent is beyond reach", spoken like a true, self-centered Boomer with their ill-gotten lottery win on real estate.
@@latorregolf
And you're just bitter you were born too late to get in the game they won.
immigration has nothing to do with minimum wages , if people choose to work on low in come , thats on them , you choose that job nobody is forcing to work there , if you have a trade in engineering or being doctor or other skill trades then thats even better , but people cry and complain about minimum wages thats there own fault for working there .... dont complain about immigration none sense it has nothing to do with wages , it's the people who too lazy to have proper skills and dont want to work on the wages that are given to them , so there for if thats the case , then you need to bring people from other countries to fill the gap since the locals are very much lazy to do the jobs !
Only on in a fiat world
Easy peazy...just make more CRYSTAL METH so nobody sleeps to work THREE FULL TIME JOBS to afford a ONE BEDROOM... duh...
Yes lets also give the people that are currently getting 40 an hour a raise to 100 an hour as well because clearly degrees or education don't matter anymore.
Plenty of hard working people who never had the privilege of university study due to life circumstances or financial disadvantage.
@@nr1785
Those are not valid excuses as plenty despite the circumstances and disadvantages fond way to prosper.
Thomas Sowell save us!!
FWIW, I never, EVER EVER rent to a minimum wage worker or newcomer to Canada. The risks are just too high of them not paying their rent for months on end. The landlord/renter laws in Ontario SUCK and it makes renting out places hard. Min wage workers and newbies KNOW the game, they know the tricks and usually stop paying rent as they are aware u cant just kick them out.
What do you expect? why would you rent to someone who can’t afford the rent. Can’t draw blood from stone
LMAO common sense is in short supply
You make it $40/hr, then the rent will go up $5000/month, and milk will be $30/4L
Boxer 🐎
Welcome to Trudeau’s Canada.
Do like the Punjabi community and go triple stack bunk beds, two to a bunk, and 3 sets of bunk beds to a room. And, rotate sleeping with those working night shifts.
In the navy the call this hot racking.
They have luxury hotels for wealthy women who just gave birth and prefer full on staff of medical care specialists these days.
Let that sink in.
Not everyone needs to live in Toronto and Vancouver lol
Minimum wage is not meant to live off of 😂
Jobs like that are for students or until somebody finds something better.
People are just lazy
How many investment properties do you own?
Do you think even if he owned investment properties he acquired them sitting on his ass? How much did he maybe compromised in his life of his time, money and work. It’s easy just to complain about successful people and do nothing about yourself
@@Mehmed317 Lol. If you don't know there are a lot of people who sit on their asses while owning tons of perperties, then you are just ignorant. And just for the record, I immigrated to Canada when I was 14, worked my ass off to learn a new language and get collage educated. I earn a 6 figure salary and could easily double or tripple it if I move down to the states, where there is a real economy and the realestate market is not just giant ponzi scheme...And that's exactly what I am planning on doing!
I agreed I worked 8 years between 70-110 hours a week to the point now self employed and be able to live comfortably
@@Mehmed317 OK, let's rephrase the Q: How many investment properties do you own pre-2019 vs how many you bought now? Right I thought so. The arrogance and audacity of people currently in a full time and/or stable long-term career and that have broken into the housing market to lecture younger generation "you just gotta work harder, bro!" Respectfully, fukc off
That's why people are sharing basement suites and small apartments in Toronto/Vancouver.