What is wrong with people these days?

Social, economic and environmental issues in our ever-changing world.

What is wrong with people these days?

Postby Dan King » May 4th, 2021, 10:11 pm

It just amazes me that people who have control over our government, and Yes that is you! Can't be bothered to write a letter to your MLA and tell them to put a stop on this real estate splurge that is all done with GREED in mind and the Hell with our children ever owing a house. Canada has the world' highest cost per capita in the world with housing. Why, because we let the real estate board and the government get away with it. The price of housing should be in a downward swing. No body looses. We will all win in the end if they reverse the up ward trend and go down in price.
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Re: What is wrong with people these days?

Postby Even Steven » May 4th, 2021, 10:37 pm

So....how do you make prices go down?

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Re: What is wrong with people these days?

Postby OKkayak » May 5th, 2021, 2:18 am

Even Steven wrote:So....how do you make prices go down?

1) Seriously crackdown on foreign ownership.
2) Make it more difficult to get multiple mortgages.
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Re: What is wrong with people these days?

Postby seewood » May 5th, 2021, 7:09 am

Dan King wrote:Canada has the world' highest cost per capita in the world with housing. Why, because we let the real estate board and the government get away with it.


Personally, I don't know how a real estate board could wave a magic wand about and poof, house prices go down.

Me thinks the governments are for the most part reluctant, other than fiddling about on the edges, to do anything drastic to lower the demand for houses. I wouldn't be surprised if home building is one of the top economic drivers in Canada right now.

Saying that, I also believe the low interest rates are going to be going by the wayside and those that passed the 5% mortgage stress test will manage for the most part but when mortgages climb to those rates and if the stress test climbs to say 7%, the demand will taper off. Those that bought toys and may be tapped out with monthly payments, may well be selling the toys and using the freed up money for increased mortgage payments.
Regardless, with inflation creeping up and the federal spending, I wouldn't be surprised to see interest rates start to climb, maybe a soon as the 3rd or 4th quarter this year.

Didn't this idiot Prime ministers dad do much the same in the 70's and then in the early 80's, rates reached 20% or so?
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Re: What is wrong with people these days?

Postby youjustcomplain » May 5th, 2021, 7:13 am

OKkayak wrote:1) Seriously crackdown on foreign ownership.
2) Make it more difficult to get multiple mortgages.


Those are crap solutions. As a home owner, you're telling me that I should not be able to sell my house to whoever I want. In order for your solution to work, I need to make less money on my investments? No thanks.

My house should be worth what a buyer is willing to pay for it. If that's 2 million dollars, then thats just fine with me.

Of course, I would like my kids to own a house some day, but my parents had the same concern in the 80's. Their house was a new build in the late 70's and on a full acre near the water it was $60,000. As prices climbed, they thought their kids would never own.

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Re: What is wrong with people these days?

Postby the truth » May 5th, 2021, 7:38 am

Even Steven wrote:So....how do you make prices go down?


easy, if you do not live full time in canada you can not buy a home
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Re: What is wrong with people these days?

Postby Septuagenarian » May 5th, 2021, 7:55 am

Dan King wrote:It just amazes me that people who have control over our government, and Yes that is you! Can't be bothered to write a letter to your MLA and tell them to put a stop on this real estate splurge that is all done with GREED in mind and the Hell with our children ever owing a house. Canada has the world' highest cost per capita in the world with housing. Why, because we let the real estate board and the government get away with it. The price of housing should be in a downward swing. No body looses. We will all win in the end if they reverse the up ward trend and go down in price.


Just off the cuff, with Jamie Margolin’s book, “Youth to Power”, in mind.

The inheritor--the future voters too young to come up with solution--even their elders who are caught in this bind--could write letters to express how they feel this problem will affect--affects--them and how they expect the politicians will be able take action by providing answers with them in mind.

For example:

“Dear MLA ___ MP (whatever),

My name is ___. I’m ___ years old and someday I’ll be a voter and I hope I’ll be able to own a home. But with the way I hear things are going right now in my area, with the cost of education, entry level employment and wages, and purchasing prices, how will I ever be able to afford to get into the market in my future? Still, I'm sure you can help me with this situation, and I expect you will have some ideas on how to solve this problem and you will get back to me with your suggestions . . ..

(something like that)

Thank you for you kind attention. I look forward to hearing from you very soon.

Yours truly

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Re: What is wrong with people these days?

Postby typhoon44 » May 5th, 2021, 8:40 am

A large percentage of the population doesn't win if houses drop in price, specifically boomers who are relying on the value of their house to fund their retirement or provide an inheritance.
I'm all for people having the freedom to do whatever they want with their private property, but the problem is residential real estate as an investment preventing people from having a place to live at a reasonable cost.
What can be done?
Canada needs more rental properties. Home ownership as a percentage is really high in Canada and it is at the expense of living (house rich, cash poor), but there are few other options. Single family home rentals are almost impossible to find, frequently result in renovictions, and often the property is sold out from under the renters. This isn't a viable long term path.
Government should incentivize developers and property owners to be long term landlords and must balance the rights of the landlord with the rights of the renter - in BC the rights are heavily skewed to the renter, mostly due to bad behavior of past landlords.

Governments should disincentive flipping. An example would be to tax profits on a primary residence sale as income for the first two years (taxed at 100%), as capital gains for the next 4 years (taxed at 50%), and make them tax free after that. The majority of home owners stay in one place for 6 years or more.
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Re: What is wrong with people these days?

Postby BC Landlord » May 5th, 2021, 8:54 am

The best our (any) government could do is to get out of the way, and let market forces sort it out. That, I would wholeheartedly support.

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Re: What is wrong with people these days?

Postby typhoon44 » May 5th, 2021, 8:56 am

BC Landlord wrote:The best our (any) government could do is to get out of the way, and let market forces sort it out. That, I would wholeheartedly support.

Okay, let's get rid of CMHC who basically eliminate risk for the banks. Free market means free.
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Re: What is wrong with people these days?

Postby rustled » May 5th, 2021, 9:01 am

typhoon44 wrote:A large percentage of the population doesn't win if houses drop in price, specifically boomers who are relying on the value of their house to fund their retirement or provide an inheritance.
I'm all for people having the freedom to do whatever they want with their private property, but the problem is residential real estate as an investment preventing people from having a place to live at a reasonable cost.
What can be done?
Canada needs more rental properties. Home ownership as a percentage is really high in Canada and it is at the expense of living (house rich, cash poor), but there are few other options. Single family home rentals are almost impossible to find, frequently result in renovictions, and often the property is sold out from under the renters. This isn't a viable long term path.
Government should incentivize developers and property owners to be long term landlords and must balance the rights of the landlord with the rights of the renter - in BC the rights are heavily skewed to the renter, mostly due to bad behavior of past landlords.

Governments should disincentive flipping. An example would be to tax profits on a primary residence sale as income for the first two years (taxed at 100%), as capital gains for the next 4 years (taxed at 50%), and make them tax free after that. The majority of home owners stay in one place for 6 years or more.

IMO this would be grossly unfair to people who move more often for work.

And IMO the single best thing the BC government could do to improve the supply of rental homes is to balance the rental tenancy rules, to reflect the significant investment the owner has made, while the single best thing the Canadian government could do to reduce the cost of housing is stop pushing the "green" agenda via building codes and utilities, and eliminate the compounding costs of the carbon taxes on everything associated with building and maintaining homes.
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Re: What is wrong with people these days?

Postby The Green Barbarian » May 5th, 2021, 9:06 am

Septuagenarian wrote:For example:

“Dear MLA ___ MP (whatever),

My name is ___. I’m ___ years old and someday I’ll be a voter and I hope I’ll be able to own a home. But with the way I hear things are going right now in my area, with the cost of education, entry level employment and wages, and purchasing prices, how will I ever be able to afford to get into the market in my future?


My response - dear entitled brain-washed indoctrinated kid - who do you think you are? If the cost of education is too high, start saving money now to pay for it. If entry level employment and wages aren't high enough, move to a place that it is high enough for you. If purchasing prices are too high, also - move. To a place where you CAN get into the market.

All of these things are not my problem, they are your problem. That you can fix. Kudos to you for recognizing that some day you will want to own a home. But it's up to you, and no one else, as to where you will own it. It is no one's responsibility but yours to find a home that you can afford. Anyone telling you anything else is lying to you.

Still, I'm sure you can help me with this situation, and I expect you will have some ideas on how to solve this problem and you will get back to me with your suggestions . . ..


Yup. Use your head. Think up your own solutions. Rely on yourself, not the government. Stop reading books written by mental midgets like James Margolin, and start reading books by authors who make you feel empowered, rather than helpless and a victim. People who want you to rely on the government instead of yourself to help you, are truly evil.

(something like that)


Exactly like that.
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Re: What is wrong with people these days?

Postby typhoon44 » May 5th, 2021, 9:28 am

rustled wrote:
typhoon44 wrote:A large percentage of the population doesn't win if houses drop in price, specifically boomers who are relying on the value of their house to fund their retirement or provide an inheritance.
I'm all for people having the freedom to do whatever they want with their private property, but the problem is residential real estate as an investment preventing people from having a place to live at a reasonable cost.
What can be done?
Canada needs more rental properties. Home ownership as a percentage is really high in Canada and it is at the expense of living (house rich, cash poor), but there are few other options. Single family home rentals are almost impossible to find, frequently result in renovictions, and often the property is sold out from under the renters. This isn't a viable long term path.
Government should incentivize developers and property owners to be long term landlords and must balance the rights of the landlord with the rights of the renter - in BC the rights are heavily skewed to the renter, mostly due to bad behavior of past landlords.

Governments should disincentive flipping. An example would be to tax profits on a primary residence sale as income for the first two years (taxed at 100%), as capital gains for the next 4 years (taxed at 50%), and make them tax free after that. The majority of home owners stay in one place for 6 years or more.

IMO this would be grossly unfair to people who move more often for work.

And IMO the single best thing the BC government could do to improve the supply of rental homes is to balance the rental tenancy rules, to reflect the significant investment the owner has made, while the single best thing the Canadian government could do to reduce the cost of housing is stop pushing the "green" agenda via building codes and utilities, and eliminate the compounding costs of the carbon taxes on everything associated with building and maintaining homes.

Move for work = rent.
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Re: What is wrong with people these days?

Postby rustled » May 5th, 2021, 9:40 am

typhoon44 wrote:An example would be to tax profits on a primary residence sale as income for the first two years (taxed at 100%), as capital gains for the next 4 years (taxed at 50%), and make them tax free after that. The majority of home owners stay in one place for 6 years or more.
rustled wrote:IMO this would be grossly unfair to people who move more often for work.

And IMO the single best thing the BC government could do to improve the supply of rental homes is to balance the rental tenancy rules, to reflect the significant investment the owner has made, while the single best thing the Canadian government could do to reduce the cost of housing is stop pushing the "green" agenda via building codes and utilities, and eliminate the compounding costs of the carbon taxes on everything associated with building and maintaining homes.

Move for work = rent.

That's rather dictatorial. People who move for work and purchase a home are already risking a loss in the market.

It also presumes it should be up to someone who does move for work (resource industry, for example) to make housing more affordable for the people who choose not to move for work - people who prefer to stay in the sunny Okanagan, for example.
Last edited by rustled on May 5th, 2021, 9:41 am, edited 1 time in total.
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Re: What is wrong with people these days?

Postby Septuagenarian » May 5th, 2021, 9:41 am

Septuagenarian wrote:
Dan King wrote:It just amazes me that people who have control over our government, and Yes that is you! Can't be bothered to write a letter to your MLA and tell them to put a stop on this real estate splurge that is all done with GREED in mind and the Hell with our children ever owing a house. Canada has the world' highest cost per capita in the world with housing. Why, because we let the real estate board and the government get away with it. The price of housing should be in a downward swing. No body looses. We will all win in the end if they reverse the up ward trend and go down in price.


Just off the cuff, with Jamie Margolin’s book, “Youth to Power”, in mind.

The inheritor--the future voters too young to come up with solution--even their elders who are caught in this bind--could write letters to express how they feel this problem will affect--affects--them and how they expect the politicians will be able take action by providing answers with them in mind.

For example:

“Dear MLA ___ MP (whatever),

My name is ___. I’m ___ years old and someday I’ll be a voter and I hope I’ll be able to own a home. But with the way I hear things are going right now in my area, with the cost of education, entry level employment and wages, and purchasing prices, how will I ever be able to afford to get into the market in my future? Still, I'm sure you can help me with this situation, and I expect you will have some ideas on how to solve this problem and you will get back to me with your suggestions . . ..

(something like that)

Thank you for you kind attention. I look forward to hearing from you very soon.

Yours truly

Name and address.


The Green Barbarian wrote:
Exactly like that.


Yes, thank you, not 'something line that,' but, "exactly like that."

It's guaranteed to get a response :up:
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