15 Replies to “The Cost of Housing”

  1. I have co-workers looking at houses over $1mil (GTA). It’s crazy. One in particular will make about $300,000 on her current house. But with what’s left on her mortgage and the added amount on a new house, she’ll be in debt forever.

    No thanks, I’d rather eat…and retire.

  2. Big money sees this as well.
    Buying and flipping houses so quickly as computers make change so much easier.
    Just thinking how easily you could game this if you have big bucks, can create credit and start a business after business by just registering a company.
    Private company hard to audit when it isn’t on the books yet.
    Just buying and flipping to get the highest profit gains.
    Real estate agents love this!

  3. Check the source of the data before you put too much faith in it… What do you expect polls done by the Food Bank industry to find?

    The cost of everything is going to go up; but I think we will find that carbon taxes (really just a compounding tax on everything) will be the big driver. Particularly for things like food and shelter where the consumer is, apparently, oblivious to just how much energy goes into getting masses of very cheap raw materials from the field to the pantries of the masses. Taxes are applied over and over again, which multiplies their impact as they move closer to the consumer who, as always, is the only one who really pays all the taxes. And it may get worse. If total cost does not do it, the other anti-oil policies of the Trudeauites may break the supply chains. There is a real risk that, someday soon, there really will be Canadians freezing in the dark.

    And who will be to blame?

    1. T-2 et al will have already left town, like in musical chairs. The bag will be odious, wet and sloppy. You’ll be holding it. Cash will be king, precious metals might work if our betters got their pinkies cut off for “kontrolling” the markets for themselves. Cash will be king. Did I say that already?
      Nineteen seventy-five relived. Nineteen eighty, eighty-one on deck. WOW, there’s even a Trudeau as PM!

      1. Cash in hand…
        Everything else is computerized.
        You just don’t think just the banks will be effected…
        Alot of computerized credit floating and intermixed.

      2. Thousand dollar bills will make a big comeback, and the Looney and all lesser coins will be retired.

        1. Back in the day, eldest daughter and I were working at a casino (forget for which charity) and were in the counting area. Daughter held up five $1000 bills and said “there’s my tuition”. Not long after that, the $1000 bills were removed from circulation because of ‘money laundering”.

        2. Heh. I won a Kinsmen raffle at a ball tourny once. Set number of tickets. $1000 main prize. They apologized that the couldn’t get a $1000 bill anymore.

          Half to 2/3 of it survived the weekend. That was a good party. Well, the bits of it that I remembered, it’s amazing how far $300 in beer and coolers can go…

      3. King Cash is on his death bed. When he and his hard currency is gone, and soon, we will be playing the end-game. And we have already lost.

  4. As a Michael Campbell guest noted this morning, when government debt becomes unmanageable, there are three options:

    1. Debt repudiation.
    2. Financial repression while inflating the debt away, or
    3. Hyperinflation which destroys real wealth but gets spendthrift kleptocrats out of the soup.

    One and three and not very likely (yet?), so that leaves number two, where central banks monetize debt by buying up government debt at negative real interest rates while allowing inflation to run its course.

    The Bank of Canada is already doing this.

    The only way out is to buy non traditional investments, or hold on to what you have as the government finds ways to tax it, so the state balance sheet looks “good.”

    It will get ugly soon, and cabin boy and Chatty Cathy down south are spokespeople for fascists trying to get home and dry.

    Inflation is the not so dirty little secret. It is already well entrenched in our economy. Anybody who shops knows food is rising.
    Anybody who builds knows lumber and other building materials are skyrocketing right now. Anybody who pays taxes knows what’s coming next. Anybody who buys into nonsense about covid recovery, carbon taxes and “good” jobs is sentencing us all to serfdom. If the Grits pull another false mandate election with issues pre-selected to avoid accountability, Canada is done.

    That’s as certain as the sun coming up tomorrow, governments raising taxes and covid great reset totalitarians ruling.

  5. And it’ll be the IMF to the rescue!!! That’s when the fun starts.
    Welcome to the world’s first post national State.
    Did you think the Petit Pomme de terre de retard was kidding when he said it?

  6. Hey, of course if a survey is ordered by Food Banks Canada, the cost of food will be an issue. And throw another leftist issue (Housing) in there, just for fun.

  7. We’ve noticed the cost of food is going up, but also the cost of housing, particularly in the $450,000 – $550,000 range (have an offspring who is thinking of getting a place). Apparently, a lot of owners of downtown highrise condos are abandoning same for the safer haven of a house.

  8. Good lord. How many Canadians buy a new house each year? The GTA averages about 100,000 home sales, and that’s about 1/5 of Canada’s population, so maybe 500,000 for the country? Even if you assume 4 people per family, that’s 2 million out of a population of 38 million, and presumably, most of the people who buy houses are NOT putting themselves into food insecurity immediately.

    I call shenanigans.

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