O'Toole says first-time homebuyers can no longer compete in Canadian housing market 1

O’Toole says first-time homebuyers can no longer compete in Canadian housing market

 

Conservative Leader Erin O'Toole and Social Development Minister Ahmed Hussen debate rising real estate prices in Canada.

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24 comments

    1. I would vote for a steaming,heaping, pile of dogshit, before I would ever vote for Trudeau..WAKE UP CANADA..

    2. Actually most of Canada believes that, by the broken electoral system and crooked politicians on all sides ruined this country.

  1. driving up inflation was the whole point to make everyone systematically broke, way to go government! you did it!

    1. Inflation didn’t cause the housing market to spike in price. It’s excessive enthusiasm by buyers and cheap credit.

    1. Hilariously if the government raises rates that will also have the immediate effect of raising inflation. The housing component of CPI is calculated on monthly housing payments. So rates go up, monthly payments go up, inflation goes up, then to compensate rates go up. It’ll be a vicious cycle of rate hikes right up until the prices completely collapse. Welcome to the death-spiral.

  2. And Trudeau does not care his extra money given for purchase home only drove prices higher giving upto 10 to 15 percent of a 750000 as a down payment which allowed goverments to own part of your home and soar prices higher foreign owners have very little restrictions to purchase a home a foreign student can purchase home as a resident. In Switzerland you can sell a home for ten years after purchase you have to pay a 90 percent tax on any profit if you sell after the ten years. Low interest rates and profiting cities and towns raising land and home values to charge huge residential tax profits.

  3. They’re loss of purchasing power contributes to GDP increase that drives down debt/gdp. Such is the insidious nature of inflation. If wage inflation doesn’t keep up with price inflation then the purchasing power loss flows into price inflation gain, and the imbalance magically helps the government bring debt/gdp down. All without any real economic growth.

    1. Nothing drives down debt. That’s why central bank needed to be removed. The banks print free paper, parliament writes new tax laws, and citizens work extra hours to make that free printed paper turn into banker profits.

    2. @ChRi&tOpHeR a The debt/gdp comes down but only because nominal gdp inflates without any real economic growth. Someone loses when that GDP growth happens without real economic growth. That’s what’s happening now.

    1. Foreign buyers make up a tiny percentage of the total buyers, cheap borrowing is what’s causing our problems. There are a lot of ‘rich’ Canadians that own multiple homes, the reason I say ‘rich’ is because they’re only rich on paper. Using the overvaluation of their real estate to acquire more properties.

  4. Average person doesn’t have a half-million or more to spend on a house – WHO KNEW?
    Not like it will change with anyone else in power.

    1. Disagree. There are certain fiscal approaches that were taken that the conservatives were/are against that has impacted the cost of products with positive pressure and the Canadian dollar with negative pressure. These outcomes were inevitable and will likely get worse before they get better.

  5. Thanks Central Banks for keeping Interest rates low driving up housing prices and thanks Canadian Government for flooding Canada with Immigrants also driving up housing prices.

  6. Thanks to the Harper Conservatives, who made it easier for millionaires/billionaires to buy up Canadian real estate. O’Foole forgets that part.

  7. surprised you don,t just call all conservatives racist,,,,the new norm and answer to all questions,,

  8. stop pretending otoole. We must repeal the provincial state of emergency powers in order to end this madness. the provinces are abusing the law.

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