Die Mieten könnten in Vancouver 7,5.000 US-Dollar und in Toronto 5,6.000 US-Dollar übersteigen, ohne dass es zu einem massiven Anstieg der Bautätigkeit kommt: Studie
https://ca.finance.yahoo.com/news/rents-could-exceed-75k-in-vancouver-56k-in-toronto-without-massive-spike-in-building-study-110002127.html
37 Comments
Totally sustainable and very good. 👍
No issues here, please do not question the immigration / TFW system.
Basically this means that for the foreseeable future, if you want to have a reasonably-priced place to live, you must seek it outside of these large metropolitan areas, because this problem isn’t going away anytime soon.
No amount of wage increases or building booms are going to cure this affordability issue any time soon. That’s the cold unvarnished reality of the situation.
Hear this out. How about we don’t try to expand the same two cities forever, but instead, we build new cities and city centers. It just might happen that putting millions of additional people in already crowded cities might not work so well.
Surely wages will go up to compensate.
Right?
Right???
Rents could exceed $7.5K in Vancouver, $5.6K in Toronto without reducing demand: Study
https://i.ibb.co/2sj9WwV/IMG-9500.jpg
Look. The government hasn’t been able to change housing completions meaningfully in forty plus years. But it has 100% control over population growth now (almost zero natural growth), and can change it easily. Despite being unable to change completions much—we are still going with this angle?
How about a massive spike in building… everywhere else in Canada so that people have more choices of cities to live and work in?
Toronto and Vancouver need more alternatives to Toronto and Vancouver. For a great many, Toronto and Van are the only option socially and economically. People would rather pile up there en masse and live in basements and shoeboxes than consider living anywhere else in-between. That’s the problem.
I’ve said this before. if Rents every hit those numbers then the party in charge would get kicked so hard to the curb it wouldn’t be funny.
Most Canadians make 3k a month, only like 0.5% of Canadians could afford 7.5k on rent a month. That’s nearly 100k a year on rent?
Lol, lmao. As soon as rents hit that you’d be seeing deportations out of Canada otherwise massive riots would happen.
They lost me at “machine learning”
only 7.5k? so cheap so very cheap not that i can afford half of it
Oh nice a study by Concordia is great…..oh.. AND a development company Equiton projects. I wouldn’t take too much away from a study that is sponsored/co-authored by a development company.
Curb the immigration to sustainable level and this will never happen.
The liberals and their immigration policies have screwed Canadians for generations. Good luck saving for a down payment on a house when you are paying your income in rent.
You can’t draw blood from a stone. Good luck with that.
One question that no one has the answer to (so far) is whether there is a sustainable way to bring down condo fees. I have seen that, before the housing slowdown, you had condo units that sell for $1.5 million (think 1500-2000 square feet condos, so not “shoeboxes in the sky”), but they will have $1500-2000 monthly condo fees.
The reason I bring this up is because I know old style unmanaged apartments built decades ago in Ontario have no condo fees (of course, these are small places that don’t have their own washers and dryers). But I am Chinese, and old style apartments in that country don’t have condo fees either, and they were big enough (about 1000 square feet) to raise a family.
So, while it is absolutely crucial to build condos based on demand, a large part of the affordability crisis is actually five figure per year condo fees. You bring these down, and condos will become much more desirable.
and they never talk about throttling demand?
We don’t need massive housing starts – that has already occurred. Look at all the new condos in Toronto over the past 15 years. Close the border – it’s so easy. Remember when landlords started offering 2 months free rent and flat-screen TV’s during Covid when we closed the border? *Reducing demand helps more than anything*.
I think that as it gets more expensive, the more incentive businesses will have to relocate, and the less incentive entrepreneurs will have to be/do business there which will naturally move the population and new business to other cheaper centres.
Good. It’s going to fund my retirement
What if for a fraction of the cost the government incentivized some big employers to set up factories or tech hubs in smaller markets throughout Canada to spread the population out?
That’s absolutely fucked up I would start burning shit like an animal I would go completely animalistic and fly to parliament and riot naked that’s how fucked this future sounds for future generations
Ya’ll read the article. It’s based off recent population growth…. You think they going to sustain that for a decade? Lmao
Liberal voters, why do you support this and why are you still going to vote Liberal?
If it come to that point 95% of the population wouldn’t be able to house themselves properly.Even if most people think Canadians are pushovers, before we get there we would be engulfed in a vicious ethnic civil war and there would be one person to blame
Sounds about right. Rents double every decade.
Never a better time to be a landlord
At the point, people who can afford paying 7.5k a month would have already been a home owner.
It’s a feature and not a bug for Canada.
lol whose gonna be living in them and whose gonna support that lifestyle ? $70 per hour McDonald’s employees?
The supply side is great and all, but seeing as inflation is crazy, building fees and regulations are onerous, etc, making mass construction essentially impossible…let’s pull the “demand” lever too. We could do that immediately.
Land lords are loving this!!!!
Boomer retirements are locked in.
Trudeau. Live up to your promise to never allow prices to fall.
If it’s under BC Conservatives, it might be like that price for Vancouver.
The BC Conservatives want to bring back AirBnb (after NDP kick Airbnb out of BC except tourist destinations) and gives more power to Landlords and no rent cap. That means LL can raise rents anytime and as much as they can.
Under NDP, it would be a lot cheaper and better than what the study find.
Go out and Vote on Oct 19th if you want cheaper rent and an opportunity to own a home.
PS: The current BC Conservative leader was under the BC Liberal government when they were in power (2011-2017.) They allowed money launderers to laundered at least $ 5 billion per year without doing anything. This is only the detected money and there should be more undetected
Seems Canada could do well for a land value tax. Fix this right on up for you
RIght above this comment box, I see an ad for RBC.
Is there no way we can curb the banks offering mortgages, without affecting the over all interest rates? Quantitative easing since 2006 is what started this to begin with.
Are there no ways we can regulate the real estate market, so you can’t overbid on a property based on speculation? Close money laundering loopholes though numbered companies?
Or, hear me out — turn off the tap of high immigration and international students and every other source of flooding the country with bodies
Watch rent go down soon enough.
It sounds like what the government should be considering is rents exceeding $7.5k in Vancouver and $5.6k in Toronto with massive spikes in immigration instead.
They can actually control population intake. You can’t force buildings to immediately appear, but you can quickly tighten up incoming resident population numbers. This is just trying to point fingers and place blame when they should be addressing the obvious. When the bathtub overflows, close the taps.
Damn that’s lots of international students in one house to afford that..
Instead of tent city it would be tent country