35 Replies to “Gradually, Then Suddenly”

  2. Governments have essentially criminalized the construction and housing industry and as a result, investors shrug or flee.

  3. Cherranna is overbuilt and overpriced. The lack of any building is due to the number of pre-con buyers that are not completing on new buildings.
    Butler has outlined that ongoing trainwreck before. It’s all connected. Domino effect.
    It didn’t get that carried away in Wangcouver or Burnaby.

  4. De guvvermint is going to be forced one day to alleviate the housing crisis by building thousands of USSR-style apartment projects, like the ones we see so often being blown to hell in Ukraine.
    On the bright side, friends of the Liberal Party and PM Carney can get the contracts without the trouble of a bidding war.

    It will fit right in with our new Junior CCP lifestyle.
    I suggest they install a Loblaw’s in among every group of buildings to facilitate the 15 minute city. That depends on who Loblaw’s donates to ,of course.

    1. Nah, it should be just large canvas tents on military land, in the Arctic.
      The desert rats will be taking the first flights back to their third world sht hole when winter hits.
      Self solving issue

  6. The feds are probably just planning to flood small-town Alberta and Saskatchewan with a bunch of new not-and-never-Canadians. What could possibly go wrong…

    1. They’re already there. Working fast food, mosques there. It’s too late.

      Waiting for Calgary to be renamed to New Riyadh or New Gaza, Edmonton to North Hamas.

      1. I’ve referred to it as The People’s Caliphate of North Edmonton for years. The Hindu’s and Sikh’s are racing each other to take over South Edmonton.

        The small towns are slowly being overrun by various Muslim and African groups.

        1. The Hindu’s and Sikh’s are racing each other to take over South Edmonton.

          Yup. Mill Woods started as a white yuppie neighbourhood about 50 years ago, but now, much of it’s Little Punjab.

          The small towns are slowly being overrun by various Muslim and African groups.

          I noticed that while I was settling my father’s estate. When I left NE B. C. after I finished my bachelor’s degree in the late 1970s, the town was largely white with some natives (3 reserves within about 2 hours drive). When I came back to clear out the house I inherited, I noticed a lot of non-whites, particularly what’s sometimes referred to as “south Asians”. There were also a lot of Filipinos as well. Both groups were non-existent while I was in high school.

          1. “Mill Woods started as a white yuppie neighbourhood about 50 years ago”

            There were white people in Mill Woods 50 years ago? First time I heard that. 50 years ago I used to tell people that if they got lost in Mill Woods to go to the Canadian embassy. Just a bit racist. I was a snob. I was the poorest guy in Riverbend.

          2. In the mid-1970s, Edmonton was still largely white and Mill Woods was an expansion of the city. Presumably, most of the residents in that neighbourhood would have been white as well.

            Mind you, as I was an undergraduate student at the time that area opened up, I rarely got out of the university area, so you may be right.

            Nowadays, there are parts of MW where if one was white, one would stick out like a sore thumb.

    1. Thanks for posting this video. It is absolutely bang on the mark. Pierre Poilievre and the CPC have thought through the best way to fast track the development of the myriad of resource projects that are needed to take Canada from 34th out 35 countries in the OECD to number one. The vision that is being put forward is brilliant.

  8. Average Canadian makes about 50 k a year. That’s nowhere near enough to buy a house. It’s barely enough to live if you share a basement apartment. If no one can afford to buy, no one is building.

    1. To qualify for a mortgage to buy an average priced house in Toronto, you have earn more than 250G a year.

  9. I grew up in the 1950s and 1960s. Every single relative of mine owned their own home. I knew maybe just a few people whose parents rented their home and I suspect it wasn’t for long. The general rule was a car was 1/2 year wages and a house was 3 years and mortgage interest was 3%. People’s well being topped out in about 1970. Modern medicine hadn’t yet been invented to bankrupt society. The solution to most diseases was bending over and kissing your ass goodby.

    1. My father and his brother started farming with my grandfather in the late 1950’s. Between them they bought up two farms from the neighbors within a span of five years, doubling their land base, and made a decent living from it. There’s no way a farmer could do that today.

    2. In 1966, my parents bought the duplex in Windsor that I grew up in for $16G. At the same time the average household income was $10G and the average price of a new car was $4G.

      In 2022, the average price of a house was $703G, the average household income was $70G and the average new car price was $53G. I can’t find the data for 1966 but for 2022 the average household paid 46.3% of income in taxes, so net disposable income would drop to $37.5G.

      Even using the pretax income, housing went from 1.5 times yearly income to 10 times and cars went from a third to over two thirds. My youngest will never be able to afford a house, let alone any grandchildren that I may have, no matter how hard they work.

  10. I think one thing that’s fair to say, back in the day, the average family home was what, 800sqft? They’d have a furnace, one or two bathrooms, linoleum floors, nothing fancy, plonked on a nice sized lot , so you had a little room for the kids, or a garden or something. Nowadays a new house is running more like 2500 sq ft, has five bathrooms with a jacuzzi tub, AC, wired for CAT 6, etc, etc. But nobody wants to buy the basic house anymore, they’d rather splash out silly amountsof money for an apartment downtown somewhere with nice granite countertops and expensive slate floors.

    Same with cars. Used to be four wheels, an engine, and a stylish body. Good basic transportation. Now these things are ridiculous with features nobody needs (excepting the true safety ones, we’ll allow those are necessary) so the sticker is going to match. All that leather and touch screens, all that laminated glass for quiet, hyper-advanced AWD systems, that all doesn’t pay for themselves now. Of course, nobody wants to buy a basic car anymore, apparently, so manufacturers simply don’t make them.

    A little resetting of expectations may be in order, is all I’m trying to say.

    1. “Of course, nobody wants to buy a basic car anymore, apparently, so manufacturers simply don’t make them.”

      As I say below, it costs maybe 20% more to build a 3000 sq/ft $1.5 million dollar dream home than an 800 Sq/ft $700,000 salt box. You can’t build even a dog house for less than $500K now.

      Toyota makes the Hilux Champ. $20,000CDN out the door. But you can’t buy it here, because it’s banned. You can buy a Toyota Tacoma. $50-$80,000CDN. The Hilux Champ is banned because Ford, GM, Stellantis AND Toyota would all go out of business here, because -zero- people want to spend $80K for a pickup truck.

      Why does a dog house cost $500K? Why does the Tacoma cost $80K if they could sell it for $20? Because regulations and taxes, that’s why.

      NONE of that is about consumer demand, or what anyone wants. ALL of that is politics and more politics.

      1. Fair points, but as someone near the car industry, nobody buys the XL pickup anymore, they all want some 4×4 1-ton, DRW, SuperLimitedLariatDoublePlatinumQuadCab edition. It’s not just that dealers don’t stock the small base level CUV, they don’t because nobody buys them, they’ll pay for the top line instead. Toyota probably wouldn’t sell anywhere near as many Hilux’s as you’d think, most would probably upsell themselves to a $70k TACOMA, ffs.

        As for the houses, I don’t know, but I just can’t see how a basic bungalow shouldn’t cost anywhere near a tri-level split McMansion to build, super inflated land costs notwithstanding, of course. People still wouldn’t buy them.

  11. Whatever housing projects are being completed today were initiated when interest rates were a at fraction of the recent peak. As rates went up, many projects were simply shelved as there was no way they could be completed profitably. Not only that, but buyers who put money down pre-construction for the previously hot condo market are now getting sticker shock and walking away in record numbers, leaving the developers facing insolvency if they can’t fill the units. That’s another reason why developers aren’t rushing to build more housing at the moment. I think one of the reasons why Carney opted for an election now is that he didn’t want to wait and fight an election battle while the Canadian real estate market implodes.

  12. Fck the housing starts.
    I don’t want any more immigrants.
    (But I don’t blame them for leaving Shitholia, and I’m not a xenophobe.)
    And I don’t give a fck about developers.
    They’d pave over a graveyard to make a buck.
    We’re not richer due to mass immigration, we’re poorer, and quality of life is deteriorating.
    Every time the digging of a new development starts, we lose something.
    Remember, Wiseman of the Century Initiative is on Carbon’s Team and he wants a hundred million crammed into the cramholes. Imagine your neighborhood/town/city with 2.5 times the number of people in less than 25 years from now.
    Wiseman is as big or even bigger nut than Guilbeault.

  13. On the brink? Nope. The brink was 2021. We are over the edge and sliding down the slope right now, picking up speed.

    Housing starts require somebody to buy them. One family home? Forget it, nobody can carry that mortgage.

    Townhouse? You want to be chained to a sh1tty townhouse complex full of foreigners for 40 years? No value for money. Condo, even worse and you will lose your investment.

    Rental units? THERE IS NO MONEY IN RENTALS ANYMORE. The mortgage is so large that the rental income does not cover the payments, AND the government will -not- remove renters who do not pay, or who damage the property. Plus the capital gains tax, and the regulations on everything rental, and all the other taxes.

    So who can build now? People who can pay over a million, cash, for a custom home. How many of those are there? Not very many.

    And by the way. Thanks to REGULATIONS and TAXES and MORE TAXES, it costs almost the same to build an 800 sq/ft salt box as it does to build a 3000 sq/ft dream house. The extra labor and materials add maybe 20% to the build cost.

    And who did this, you ask? The #Liberals. Took them nine years to get here. #CarkMarney made it happen, #ShinyPony was his sock puppet. #BlubberDougie helped.

    1. They sure did do this. And just to back up your statement on rentals, every single person I know who’s owned a rental has divested over the last few years, always at a loss over the total time of ownership. And those are the lucky ones that didn’t have something happen like tenants clog all the drains with cat litter and jam every toilet and sink in the house to run before walking out with no notice.

  14. Trawna Condos that are just finishing up now at $1200 per sq ft, are worth about $800 per sq ft, and that’s a best case scenario. Lots of “investors” are taking a bath, and the mortgages on them are being set up as “declared value” because they otherwise wouldn’t be able to get one.

    It’ll take a while to shake out.

  15. I’ve said it before but every time I drive through London Ont. which is quite a bit these days, the home construction going on there is just mindblowing. What used to be lovely rolling hills and pastures with grazing horses…has morphed into 50 acres of eye sore, claustrophobic, cookie cutter houses of black & grey siding, shingles and bricks.
    Asked my sister-in law who’s buying them – “East Indians”.

    2. Yep East Indians, and there will 20 people living in a 5 person house, they pool the money and buy a business, fire all the traditional Canadians and get $5-$7 dollar an hour subsidy from the feds for doing it. That is how gas stations, Tim’s etc. go totally brown over night.

  16. I install stop and street name signs in new subdivisions. I can’t believe the amount of new developments that are stalled. I’ve been doing this for almost 40 years. I had the worst year ever last year and this one is even slower so far. I’m told by a couple of developers that this year should be better. All this immigration has had no effect on new housing and the west end of Brampton looks like India. I was in Costco at 410 and Steeles just for the $1.50 hot dog and honest to God, there was me and 1 other white guy in a packed store.

    1. This is called ‘enrichment’ and ‘vibrancy’ by leftist, multiculti dorks. Not sure how it is ‘diversity’ if there’s only one race living there. When whites made up 99% of the population it was a ‘bad thing’; when they are driven out so that only 1% remain, it’s called ‘diversity’….and “it’s our strength”.

  17. I was listening to the radio and heard that in Ottawa development fees for a new home can be up to $250k.

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