this post was submitted on 11 Dec 2023
105 points (97.3% liked)

Canada

7273 readers
392 users here now

What's going on Canada?



Related Communities


🍁 Meta


🗺️ Provinces / Territories


🏙️ Cities / Local Communities

Sorted alphabetically by city name.


🏒 SportsHockey

Football (NFL): incomplete

Football (CFL): incomplete

Baseball

Basketball

Soccer


💻 Schools / Universities

Sorted by province, then by total full-time enrolment.


💵 Finance, Shopping, Sales


🗣️ Politics


🍁 Social / Culture


Rules

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca


founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 21 points 1 year ago (2 children)

I really wish those politicians would address the issue of unoccupied housing as well. I feel like saying that the solution is to build more housing is to play in the pockets of investors while pushing for less unoccupied residencies is going against it and why I believe it is not talked as much on the political front.

https://censusmapper.ca/maps/3055#12/49.2628/-123.1324

[–] [email protected] 16 points 1 year ago (2 children)

I wrote this for a US bill that they're trying to pass, but it might apply in Canada?

Corporation Plan

  • Step 1, US has a financial meltdown
  • Step 2, corporations buy up all of the housing at cheap prices, price fix the rentals and use a shit ton of them for airBNBs
  • Step 3, not worry about the empty units or homes because price fixing and airBNBs will fix that
  • Step 4, develop a crowdfunding site so "investors" can get in on the renting/price fixing game
  • Step 5, complain that there isn't enough housing to get the zoning changed, so they can build "luxury" apartments where they continue to price fix or rent out to tourists/business people because they're ToTALLy NoT A hoTEl!
  • Step 6, profit, profit, profit

Common Person Plan

  • Step 1, look to buy a home but there's not enough supply so the prices go up
  • Step 2, try to save but their rent keeps getting raised because it's being price fixed and there is a lack of supply (sometimes real because of the tourists)
  • Step 3, continue to rent while nervously waiting to try and build up a deposit and there's less and less supply
  • Step 4, rent, rent, rent further away from the city core
[–] [email protected] 11 points 1 year ago (1 children)

Don't forget the mortgage rates are sky high so even people with 20% can't really afford to buy. Corporations buy for cash.

[–] [email protected] 2 points 1 year ago

That's a really good point, what step would that be? Probably Step 3 for corporations. Do you mind if I add it to the list?

[–] [email protected] 4 points 1 year ago (1 children)

My one hope is that the meltdown is tied to commercial real estate, which will hopefully avoid this whole thing.

[–] [email protected] 2 points 1 year ago

Narrator: It won't be.

[–] [email protected] 10 points 1 year ago

That's a provincial issue, not a federal one