My only problems with Trudeau is him immediately backpedaling on electoral reform, seemingly not doing anything about the housing crisis, and just not really doing anything about how bad ISPs are up here in Canada.
I understand your point, but when an issue affects ALL provinces and territories without exceptions, it becomes de facto of federal concern. And it's been going on for years.
And the federal gov has lots of tools they could use to help fix this problem.
when an issue affects ALL provinces and territories without exceptions, it becomes the facto of federal concern.
It literally cannot be. There are many, many issues playing into all of this. Housing being seen as an investment, rather than a right. Overseas investors buying large amounts of property. Municipal zoning restrictions. Lack of building of homes in general. Lack of building of starter homes (cheap townhouses). Lack of building apartment complexes in favour of sprawling suburbia (zoning related.) NIMBY's. The Bank of Canada continually inflating the bubble since the early 2000's, ever preventing a burst.
Canada's housing market never crashed alongside the rest of the world during the '08 recession. Instead, it's continued to grow with the BoC eating large amounts of loss for low interest rates, and they're cashing in on the skyrocketing valuation.
Mortgage rates rose to >20% in the 80s, and has been on a steady decline since. This breeds a market where investors are more likely to acquire properties because the annual cost is low, and they can prop the market up with cash. Buying more and more property, allowing the BoC to keep mortgage rates low, which in turn feeds this sickening cycle, until all the houses are purchased, building cannot meet the demand, NIMBY's refuse to allow anything but endless suburbia, and the average Canadian is without a roof over their head.
Once no one can afford to live anymore (Let's not forget about Gougin' Weston), the bubble will burst and if investment companies, private equity firms, overseas buyers, and private investors (owners) aren't willing to liquidate, we'll just see it all pick back up at a slightly higher interest rate, and those lucky few who were in a good spot to purchase housing during the burst will make out like bandits just like in '08.
It’s sad uninformed Canadians confuse Doug’s horrific governing with Trudeau’s. Similar to Floridians blaming everything on Biden while DeSantis goes scot-free.
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u/SoloWing1 5d ago
My only problems with Trudeau is him immediately backpedaling on electoral reform, seemingly not doing anything about the housing crisis, and just not really doing anything about how bad ISPs are up here in Canada.
He's been adequate in most everything else.