Urge people to open up their homes (as in the case with syrian refugees previously):
https://bc.ctvnews.ca/metro-residents-urged-to-open-their-homes-to-syrian-refugees-1.2652041
Housing crisis in Canada
- Thread starter ZZDown
- Start date
https://bc.ctvnews.ca/metro-residents-urged-to-open-their-homes-to-syrian-refugees-1.2652041
But residents living there might get worried about evictions by new owners:
https://globalnews.ca/news/8244924/coope-housing-group-worried-about-burnaby-sale/
Asking for people to open up their homes is a kind gesture but I don't know many locals are willing to take that on.
If you're already struggling in a one-two bedroom apartment, condo, bsmt suite, along with all the rules from owners/landlords,
may prove to be a little difficult. Who is going to pay for all the extra food and utilities? Single family homes in residential
neighbourhoods may have extra space but I'm sure most will require $$$$.
The federal government needs to be more engaged with affordable housing and money laundering issues.
Money laundering and questionable real estate practices definitely need to look into. With the issues with real estate in China, there will likely be more interest in purchasing property abroad.
They need a temporary solution. But then, did they build more affordable homes to house those former refugees?
You are focusing on the window dressing, not the main course. Issue is not enough housing is being built. If you build highly dense houses or incentivise into doing so, the issue will automatically get solved. Austria and Singapore have solved the issue with lots of dense urban housing.
Not as simple as not enough housing built. Low interest rates, speculation, foreign ownership (and access to the same housing stock as Canadians vs places like Australia that limits to new builds), allowing housing to become such a large portion of GDP, lending practices that encouraged purchases with minimal deposit over decades, etc. all contributed to the problem. Just increasing housing stocks will not solve the problem.
Then why is housing in rural Canada dirt cheap? Not saying it's the only cause, but not enough supply in cities to meet the demand is largely responsible for this.
Low interest rates, easy lending also allow people who can't afford homes otherwise get a home. If you check the real estate lending data, particularly from the US, which is a similar market there is not much to worried about. Sub prime mortgages are at an all time lows, yet prices for housing is at all time high.
Housing in rural Canada is not all cheap. It is very dependent on the area. Some rural housing is more expensive than homes in the city. Low interest rates are the primary reason for increased housing prices. Had interests rates been higher it would have slowed down home price increases and limited speculation and purchase of real estate for investment only. The high returns while just holding has increased the amount of ppl acquiring properties to hold and sell once the fast growth has been maximized. Many aren’t interested in being longterm landlords. Allowing people to borrow and have long mortgage terms (which have been somewhat clawed back) allows prices to increase to high multiples of your salary because monthly carrying costs are relatively low. The low borrowing rates have allowed more disconnect between salaries and home prices. Things like 35 year term rates don’t actually benefit the borrowers. Would allow people to be still paying a mortgage in retirement and if still paying a mortgage less money is going towards things like retirement.
I'm still in the process of getting my PR. While waiting for it outside of Canada, I'm doing my research about housing costs in various provinces and cities. I initially wanted to settle in Vancouver due to its relatively warm climate and beautiful nature, but now I realized that owning a home in Vancouver, Toronto or even in Ottawa is near-impossible except you're really rich. It feels like Vancouver and surrounding areas are for two groups. Extremely rich, and servants who'll pay almost all their wage to their post-medieval landLORDs for a right to 'live' there as long as their LORDs.. I mean landLORDs allow them to do so. We can debate how this problem can be solved? What caused it? How can we prevent it? for days if you'd like, but since we're not politicians in the Canadian parliement, it is nothing but a waste of breath for all of us.
I found that while a small studio apartment near Vancouver where you shit and eat in the same room costs 400k CAD, it's actually possible to buy an entire house with a garden, and a small garrage near cities like Montreal and Halifax. (Edmonton, Winnipeg, Saskatoon are relatively affordable too but I have no interest to live in these cities) Now I'm really considering to change my landing city just because of the ongoing housing crisis in Vancouver, Toronto and Ottawa. I don't wanna pay someone else's mortgage to make them richer and be treated like shit to the end of my days as a renter.
Here are some examples I randomly picked in the last 5 minutes(All are 10minutes drive to downtown at max):
Vancouver apartment for 370k CAD (1+1 small apartment)
https://www.realtor.ca/real-estate/23595299/310-2012-fullerton-avenue-north-vancouver
Vancouver apartment for 399k CAD (1+1 small apartment)
https://www.realtor.ca/real-estate/23656959/210-270-w-1st-street-north-vancouver
Montreal house, literally a short walk away from downtown Montreal with special car park and garden for 299k CAD
https://www.realtor.ca/real-estate/23697501/1150-rue-duvernay-longueuil-le-vieux-longueuil-montréal-south#view=neighbourhood
Montreal house,with large garden and a car park for 280k CAD
https://www.realtor.ca/real-estate/23687664/10385-av-audoin-montréal-montréal-nord
Halifax house with large garden and a car park for 299k CAD
https://www.realtor.ca/real-estate/23669036/212-school-street-dartmouth-dartmouth#view=neighbourhood
I found that while a small studio apartment near Vancouver where you shit and eat in the same room costs 400k CAD, it's actually possible to buy an entire house with a garden, and a small garrage near cities like Montreal and Halifax. (Edmonton, Winnipeg, Saskatoon are relatively affordable too but I have no interest to live in these cities) Now I'm really considering to change my landing city just because of the ongoing housing crisis in Vancouver, Toronto and Ottawa. I don't wanna pay someone else's mortgage to make them richer and be treated like shit to the end of my days as a renter.
Here are some examples I randomly picked in the last 5 minutes(All are 10minutes drive to downtown at max):
Vancouver apartment for 370k CAD (1+1 small apartment)
https://www.realtor.ca/real-estate/23595299/310-2012-fullerton-avenue-north-vancouver
Vancouver apartment for 399k CAD (1+1 small apartment)
https://www.realtor.ca/real-estate/23656959/210-270-w-1st-street-north-vancouver
Montreal house, literally a short walk away from downtown Montreal with special car park and garden for 299k CAD
https://www.realtor.ca/real-estate/23697501/1150-rue-duvernay-longueuil-le-vieux-longueuil-montréal-south#view=neighbourhood
Montreal house,with large garden and a car park for 280k CAD
https://www.realtor.ca/real-estate/23687664/10385-av-audoin-montréal-montréal-nord
Halifax house with large garden and a car park for 299k CAD
https://www.realtor.ca/real-estate/23669036/212-school-street-dartmouth-dartmouth#view=neighbourhood
Just a note to the 2 "Vancouver" apartments. They are in North Vancouver and were both built in 1970s.I'm still in the process of getting my PR. While waiting for it outside of Canada, I'm doing my research about housing costs in various provinces and cities. I initially wanted to settle in Vancouver due to its relatively warm climate and beautiful nature, but now I realized that owning a home in Vancouver, Toronto or even in Ottawa is near-impossible except you're really rich. It feels like Vancouver and surrounding areas are for two groups. Extremely rich, and servants who'll pay almost all their wage to their post-medieval landLORDs for a right to 'live' there as long as their LORDs.. I mean landLORDs allow them to do so. We can debate how this problem can be solved? What caused it? How can we prevent it? for days if you'd like, but since we're not politicians in the Canadian parliement, it is nothing but a waste of breath for all of us.
I found that while a small studio apartment near Vancouver where you shit and eat in the same room costs 400k CAD, it's actually possible to buy an entire house with a garden, and a small garrage near cities like Montreal and Halifax. (Edmonton, Winnipeg, Saskatoon are relatively affordable too but I have no interest to live in these cities) Now I'm really considering to change my landing city just because of the ongoing housing crisis in Vancouver, Toronto and Ottawa. I don't wanna pay someone else's mortgage to make them richer and be treated like shit to the end of my days as a renter.
Here are some examples I randomly picked in the last 5 minutes(All are 10minutes drive to downtown at max):
Vancouver apartment for 370k CAD (1+1 small apartment)
https://www.realtor.ca/real-estate/23595299/310-2012-fullerton-avenue-north-vancouver
Vancouver apartment for 399k CAD (1+1 small apartment)
https://www.realtor.ca/real-estate/23656959/210-270-w-1st-street-north-vancouver
Montreal house, literally a short walk away from downtown Montreal with special car park and garden for 299k CAD
https://www.realtor.ca/real-estate/23697501/1150-rue-duvernay-longueuil-le-vieux-longueuil-montréal-south#view=neighbourhood
Montreal house,with large garden and a car park for 280k CAD
https://www.realtor.ca/real-estate/23687664/10385-av-audoin-montréal-montréal-nord
Halifax house with large garden and a car park for 299k CAD
https://www.realtor.ca/real-estate/23669036/212-school-street-dartmouth-dartmouth#view=neighbourhood
North Van and Vancouver are connected with 2 bridges . The one to DT Vancouver is called Lion's gate bridge. During peak hours, crossing the bridge can take over an hour (instead of 10 min). But North Van is a nice city. Careful with older strata condo is for the extra cost owners need to pay for fixing and maintaing these buildings.
Yeah, and Vancouver examples I provided are not even houses. They're just small apartments which you can hardly live in a humane way.
There was no possibility to compare a Vancouver house which usually starts from 1.5 to 2 million dollars, with a house either in Montreal or Halifax. The price difference, and what you get for that price are ridiculous.