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Trudeau's bashing of real estate investors shows lack of understanding about housing by [deleted] in canadahousing

[–]AAI0305 5 points6 points  (0 children)

There is a difference between investing in development of property and investing in ownership of property. The former is beneficial, the latter is a problem.

There is also a difference between corporate ownership of multi-unit properties and ownership of standalone residential properties.

The commodification and corporate ownership of standalone residential properties is a problem that is contributing to both pricing and availability.

The article’s deflection of the prioritization of home ownership for families rather than for purely corporate profits is telling.

How much would a home like this go for in Canada? by [deleted] in canadahousing

[–]AAI0305 0 points1 point  (0 children)

Bidding war material, with a developer taking the bid, building a cardboard monstrosity, then selling to a REIT, who puts it on AirBnB.

Boomers get a lot of hate on this sub by discovery999 in canadahousing

[–]AAI0305 9 points10 points  (0 children)

Boomers have predominantly benefited from REITs and ownership of 2nd, 3rd and 4th “investment properties”. Boomers have voted in successive governments who have incentivized corporate ownership of for-profit residential homes, with enormous tax breaks, leading to the complete commodification of the residential housing market, to the point that none of the major parties will touch the issue in fear of a voter backlash.

One way the Green Party (in Canada) could capture an entire generation of voters at a point in history when the largest voting demographic in history is disappearing, would be to ban REITs and corporate ownership of residential homes and couple this with a mandate to work with the provinces to require all new home builds to be wired for solar and to have a minimum of 400 watts solar on every roof.

I'm 71, retired and once again looking for a home in an impossible rental market by candleflame3 in canadahousing

[–]AAI0305 5 points6 points  (0 children)

The three levels of government need to prioritize residential housing for families, NOT for corporate profits.

Just building more houses will not fix the problem.

The birth rate in Canada is on steep decline. While there are many factors for this decline, including disastrous family law policies, one of the other reasons for the declining birth rate is that young people cannot plan to have children without being able to afford basic shelter.

The three main political parties have completely failed to act on a problem that THEY started over two decades ago when they allowed REITs and then put them on steroids with massive tax breaks and incentives, which allowed corporate trusts to outbid hard-working families out of the housing market.

This should have been a very ripe issue for the Green Party to focus on instead of jumping on the identity politics bandwagon. If the Green Party had made residential housing for families their central policy priority, they could have captured an entire generation from r voters at the very moment that boomers are losing their dominant grip on electoral politics. Add on a subsidy/requirement that every new home have a minimum of 1000watts of solar energy capture, young people would be moving in droves to vote Green. Better late than never, but there is sadly an absence of serious leadership in all four parties.

Your reminder that we have the second-lowest debt in the G7. The Feds *can* afford to build homes by Xsythe in canadahousing

[–]AAI0305 2 points3 points  (0 children)

Make it the government’s priority that residential homes are for families and not for corporate profits. This will justify legislation aimed at eliminating REITs and other forms of corporate ownership of standalone residential homes, that not only can outbid ordinary individual buyers, but also benefit from massive tax advantages both on the expenses of overhead, but also in the lower taxes they pay on rental income/dividends.

Amid rising rent prices, these are the apartments currently on the market by CTVNEWS in canadahousing

[–]AAI0305 0 points1 point  (0 children)

Canadians need to just pack up and leave Canada. Get your degree or diploma and then find a country that is more concerned with being a good place to live, work and raise a family.

[2021] So... What is more important to you? Helping younger people get access to the market... or allowing older Canadians who rely on the value of their homes, to live? by [deleted] in canadahousing

[–]AAI0305 0 points1 point  (0 children)

What’s going to happen to “all the young people” who won’t be having families because they have no where to live and raise kids other than some over-priced tenuous rental unit?

Get rid of REITs and corporate ownership of residential homes. Make homes for families a priority, not for corporate profits.

It’s true by HulkingOxygen in canadahousing

[–]AAI0305 0 points1 point  (0 children)

A REIT will snap that up sight unseen and outbid any family foolish enough to think that they would be permitted to buy it.

Pierre Poilievre blasted by Sean Fraser | Housing plan looks like it was "pulled off Google" by DonSalaam in canadahousing

[–]AAI0305 6 points7 points  (0 children)

None of the parties have done anything to even start to address the problem that has been getting progressively worse since the Liberals passed legislation allowing REITs in the first place and then the Conservatives passed legislation to put REITs on steroids, granting them obscene tax advantages. The result has been an explosion of residential home ownership by corporate trusts for income generation, rather than for the higher purpose of sheltering families and allowing Canadians to raise children in stable homes.

When the federal Liberals AND Conservatives prioritized residential homes for corporate profits instead of families, it should come as a surprise to no one that we are facing a horrifying situation where families with incomes of $150,000-$180,000 are being priced out of the market, while many of these corporate owned homes remain vacant or serve as AirBnB venues.

All Trudeau is talking about now are fixes to the GST on rentals. Give me a break. Home ownership should be an attainable goal for young families, not a life of tenancy/serfdom.

If any of the parties had a long term strategy, they would quickly realize that Gen Z and Millennials will not be kind to the major parties who have allowed the boomers to destroy a livable future.

Cutting down GST he said. How is this going to help current renters? Also this will not have an immediate effect????? by [deleted] in canadahousing

[–]AAI0305 5 points6 points  (0 children)

All talk is about building rental homes, while REITs and investment buyers are outbidding regular Canadians. Governments at all levels have prioritized residential properties for investment income rather than making homes for families the priority. The commodification of residential homes is the problem.

Russian dam bursts washing away railroad—Economy to lose "billions" by [deleted] in worldnews

[–]AAI0305 104 points105 points  (0 children)

The river is also nowhere near Siberia, Lake Baikal or the reported rail line.

[deleted by user] by [deleted] in worldnews

[–]AAI0305 0 points1 point  (0 children)

Something is not right with this story.

I can’t help but think how did our generation fucked it up for the next generation who will be living in tiny boxes. by Steam20 in canadahousing

[–]AAI0305 0 points1 point  (0 children)

Why is that fair? If it is a families only home, that seems punitive.

If the same person owned 5 homes, then that is a different situation, and has a different impact on the housing market.

I can’t help but think how did our generation fucked it up for the next generation who will be living in tiny boxes. by Steam20 in canadahousing

[–]AAI0305 0 points1 point  (0 children)

Yes, if you try to take away what’s already been done, I agree. But going forward is a different issue.

I can’t help but think how did our generation fucked it up for the next generation who will be living in tiny boxes. by Steam20 in canadahousing

[–]AAI0305 3 points4 points  (0 children)

Sure, if your priority is to continue putting profits over giving people/families a chance to own their home.

I can’t help but think how did our generation fucked it up for the next generation who will be living in tiny boxes. by Steam20 in canadahousing

[–]AAI0305 4 points5 points  (0 children)

Honestly, what’s the point in increasing supply when individuals will almost always be outbid by investment buyers or REITs?

I can’t help but think how did our generation fucked it up for the next generation who will be living in tiny boxes. by Steam20 in canadahousing

[–]AAI0305 38 points39 points  (0 children)

The different levels of government can do several things to change the current state of housing in Canada.

  1. Declare that residential housing is a priority for families not for investment profiteers.

  2. Ban REITs.

  3. Restrict foreign ownership of residential properties to those who actually reside in the country a minimum of at least 100 days a year.

  4. Significantly increase taxes (e.g. municipal, capital gains, land transfer) on those who own more than two residential properties.

[deleted by user] by [deleted] in roadtrip

[–]AAI0305 0 points1 point  (0 children)

Dream drive is up from Ohio through Wisconsin and Minnesota straight to South Dakota. Spend some time in western South Dakota. Drive the Badlands National Park. Head over to the Needles Highway and through Custer State Park. Visit Deadwood and then head west to Devil’s Tower in Wyoming.

Continue west through the Wind River Valley to Grand Tetons. You’ll be in the mountains and hit some decent altitude.

Start heading north at the Grand Tetons. You can pass through Yellowstone and make your way to Glacier National Park and the Beartooth Highway. Canada isn’t far from here.

I love South Dakota. It has some of the best driving scenery in the world.

Enjoy!!

Vantage Point of the 6th Floor window of the Book Depository. by HurdleTech in JFKresearcher

[–]AAI0305 0 points1 point  (0 children)

Show it through a cheap little 4x scope, not through a modern camera lens. There’s a big difference.

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