Summary
Mark Carney has been elected as the new Liberal Party leader in Canada with a commanding 85.9% of votes, following Justin Trudeau’s resignation.
The former Bank of Canada and Bank of England governor will become Canada’s 24th prime minister within days.
In his victory speech, Carney took aim at both Donald Trump and Canadian Conservative Leader Pierre Poilievre, vowing to maintain Canada’s tariffs until Americans “show us respect.”
Carney, despite never holding elected office, enters leadership as Canada faces trade tensions with the U.S. and a potential early election. He must secure a parliamentary seat and finalize the transition with Trudeau.
If your rents doubled while your population increase was only 4%, it sounds like immigration wasn’t the issue, now was it?
Blaming poor people for the housing bubble is like blaming a fish for the rain. Look up.
The problem is nimbyism, sprawled zoning, and large developer taxes used to lower property taxes; which is why matching immigration to housing completions is important, and an obvious thing to do if you care about the poor.
But people downvote criticism of their faux progressives. People got a whole 400$ in dental work as their rents doubled, wholly unfunded and paid with future austerity of course.
I’m pretty sure Carney is onboard with tying immigration to housing. It seems like it’s basically just consensus within Ottawa at this point.
Matching population to available housing… Seems a little cart-before-the-horse. In your opinion what is the motivation to build housing, since we are controlling the demand not the supply?
There’s always some being built but not ready to go, so depending on the exact requirement in place you could still accommodate massive immigration.
Actually, if it was literally letting in an immigrant family for every empty house on the market, you’d still get prices skyrocketing. You have to leave room for domestic growth in demand, and account for the effect of the other various push and pull factors on immigration if you want to achieve the policy goal of continuing growth without sparking a cost crisis and a backlash. How exactly you do that, I don’t know, and probably is pretty complicated.
Profits are why developers build housing, for consumers its an inelastic good obviously.
We have simply made land costs too valuable via regressive zoning and greenbelt, alongside the slow bureaucracy, poor mass transit. Then you have high developer taxes as I mentioned, which directly erode profit.
When supply is diminished and debt is cheap it becomes a liquidity sponge where supply doesnt increase to match capital, and people speculate on rising values like they do Bitcoin or gold, except with cheaply borrowed money that is insured and a liability to our own government as they buy half of all mortgage bonds.
Our population increased by 10 million during Trudeau. As a homeowner I’m not complaining lol
It’s just 4 million, actually. It was almost 36 million in 2015 and it’s just over 40 now.