It’s really not that complicated. If you really want to resolve the housing crisis you just need to do these FIVE things
- 1. Bring back 35 year amortization periods and increase qualifying home prices to $1,250,000 or higher.
- 2.Remove rent control rules.
- 3.Halt new immigration until we can build up enough support services to handle what we have already. *(exception below)
- 4.Cut back on the municipal, provincial gov’t Red Tape to build any type of residential housing and that includes purpose built rental apartment buildings.
- 5.Create a hiring program to entice and incentivize people to get into skilled trades …and bring over people from outside Canada if you have to (this would be my exception to point 2 above)
- Do this and you’ll soon have more housing units available than you could even dream of. It could be done in 3 to 5 years. It’s just not that complicated.
Continue reading “Housing crisis.. Made in Canada”
Hopefully you read Part One of this article where I discuss the Canadian government’s delusional (and incredibly damaging) immigration strategy. With no meaningful plan to absorb 500,000 newcomers per year, we’re looking down the barrel of a number of crises to come: a jobs crisis, a healthcare crisis, an infrastructure crisis, and of course, a housing crisis.
Continue reading “Population Crisis Part 2: The Good News”
Spoiler alert: this isn’t one of those pro-renting articles that seem to be so in-vogue these days. You’ve probably seen the type. They purport that contrary to popular belief, if you look deeply into the long term economics of homeownership, you’ll find that it actually makes much more sense to rent. Some even tout the psychological benefits of foregoing homeownership (based on… not all that much).
Continue reading “Is It Better to Rent or Buy Your Home?”
So many pessimistic reporters here have been telling Canadians it’s better to rent than own. Well, those people have been really quiet over the past few years given that rents have really taken off and housing prices have skyrocketed, leaving those that had purchased in a great equity position.Those that listened to the media “experts” have nothing to show except for record high rents and landlords that want to evict them because market rents have gone up by about 30% over the past 5 yrs.
Continue reading “Is it cheaper to rent or buy?”
After years of seeing countless articles and posts about interest rates, housing affordability issues, mortgage stress tests disqualifying some people from being able to buy, higher personal debt levels, does it still make sense to buy a home?
Yes! There is positive news. You can still buy a home. And you can still qualify for a mortgage.
Continue reading “The affordability of homeownership… Rent or Buy?”
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