Close Reading

Most of this is accurate, except there are plenty of homes in Canada under $400 000. The problem is with the higher rates and stress test (which is another huge factor as to why people are leaving) it's difficult to be approved for enough to even purchase a cheap home. Also the competition for cheaper homes is brutal. Even with an income over $70 000 a year your looking at maybe being approved for $270 000 right now. Not many livable houses for that price in Ontario near jobs. Canada is not the same place anymore. Another problem is wages going down or becoming stagnant due to immigration. I have personally seen both security and the trucking industries nearly destroyed because of this. When entry level and mid-range trained jobs aren't making the wage you need to live, you don't have many choices but to go somewhere you can afford.

Thanks to Trudop opened the floodgates with no proper planning or consideration for the negative effect of tripling the numbers of comers on the food cost, home pricing, housing rentals, the high cost of buying cars, and the traffic on highways. Hundreds of thousands from India and other poor countries come on a visit visa and are stuck here forever trying to get a job regardless of the qualifications, and experience. In the past, there was a criteria to select the best and most experienced to come work and live in Canada. Quality not quantity.

We need imagrints but we don't have the housing.we got thousands of low income Canadians living in tents.while imagrints are taking low price homes and apartments because they will pay more with 5 to ten in same house a single income family can't compete.

Very fair and balanced commentary on Canada in 2023. Like you, I've lived in a few countries, and while life is comfortable for me here (only because I own my home from years ago before prices started going insane), I'm looking at exiting due to some of the factors you mentioned.

2:21 Oh my god, THIS! I've been trying to explain to my fellow Canadians for several years that our ridiculous obsession with putting our investment income into real estate, often via non-essential home improvements for NO REASON other than to raise the price, is hurting our economy. Unless you run a business, offer services, or operate a factory in your house, houses do not produce GDP! \n\nI am not saying to not fix up your house if you need to. I'm not saying that if you think that your house would be lovely with a deck that you shouldn't build one. What I'm saying is that to put every dollar of disposable income into real estate instead of investing in something like businesses, equities, or private credit that our country will continue to suffer, and this IS something that we, as working Canadians, can control.

good\nthe more immigrants we invite the higher the populations and the higher the costs of rent go and the worse the housing crisis gets\nmost people here are living in tents, vans, shelters, or crammed in rental units run by slum lords, or living in a home they can't afford and will likely end up losing to the bank\n\nour government doesn't seem to be interested in helping it's people just helping greedy corrupt systems\n\nwe are losing our abilities to have free speech too or even share news clips anymore either, they fear people coming together as a community again to stand up for ourselves\n\nfood prices are unaffordable too and it's insanely cold\ndoes this sound like a place anyone would want to live\nour government sucks

I don’t know what that report is talking about. Here in Alberta comers and workers doubled especially from a country that Canada recently had a problem with because they accused that country of killing one guy in BC. They are always by the malls buying brands of clothing and sending them back to their home to sell for 3 times the price.

I live in a small rural Northern community, East Indian immigrants have bought out or taken over nearly every business in the community, our car wash, both grocery stores, both Hardware stores, subway, pizza place, two of the three restaurants, only motel, nearly all the rental properties, and they are shifting their investment now to homes, as we can still buy homes up here for reasonable prices, they are buying them, doing some cheap renovations, and trying to flip them for large amounts. All these local small businesses in the community used to employ young people from the community, they used to be places of employment for summer jobs for students and for the elderly people who retire here to have jobs to keep busy. Since the influx of people from India, all of the jobs in these stores that have been bought out by them are now done by Indian people, nearly everyone who used to work these jobs in my community has lost the opportunity to do so because since the businesses were bought out by Indians they only hire their own kind as employees. I know at least 10 people directly that have lost their jobs due to this, and there are certainly more. We allow foreign investment in our business and real estate market, and these people come in, completely take over and dominate these small communities, and fill them with their young people from India and take away all the jobs from the local people living here. Its horrible. My wife and I are planning on moving to Eastern Europe, Canada in another few decades will be nothing more than a province of India.

When the Syrian refugee crisis was at its peak, the refugees were lied to and told they could acquire free housing in NB. Alot of them ended up going back home within a couple of years, because housing and employement was literally more stable in their war-torn hometowns. I had a housemate once that was shocked to learn that we were all paying the same price for rent, she thought she was the only one being charged money because she was foreign, but we had to explain to her that the Canadian government literally steered her into the ground. She was on the phone all day cancelling plans to move her family over after that, and she went back home within the year.

Created on purpose by their own government taxing into homeless and starvation. Allowing landlords to charge greedy high rents priced way above disabled and elderly incomes. Borders should have been firm and only legals with proper immigration papers allowed to enter swearing allegiance to Canada. Soaring housing prices we sold our decent home for $175,000. it was a corporate who bought it. Big business buying up everywhere then create unaffordable duplexes or triplexes.

I'm an immigrant from the UK, which is in someways worse than Canada and some ways better, both Governments are corrupt and beholden to the US Empire and huge Corporations. Tell me why I should choose this authoritarian, dystopian nightmare of a country, over my home authoritarian, dystopian nightmare of a country? At least the UK doesn't steal your hard earned money, for protesting the corrupt Government. They may beat you up and arrest you for it, but that's kids play compared to what Canada does. \n\nMost prices in this country are as similar as the UK's, allowing for exchange. But food is unbelievably more expensive and the UK is an island. My husband wants us to move to the UK, but I have fallen in love with this country, it's beauty and it's people. I'm heartbroken, I can only imagine what those who were born here feel. When skilled immigrants come here and have to start at the bottom in many industries, no matter how rich their CV. When pay is as bad as back home, in some cases worse, why would they bother? Not to mention the taxes. And I happen to be a traditional leftist, who believes in progressive taxing. Trudeau is too busy cosplaying his ego into US proxy wars and identity poltics, which serves only to divide the people. His days are numbered, I only have to listen to my friends and neighbours.

Can’t blame them at all. I’m a son of immigrant parents born and raised in Canada and I am deciding to move to the US myself due to soaring house prices and taxes. My dad was an engineer back home and when he came here, they said his university diploma was not accepted here. He was forced to work a 9-5 job career instead.

Australia & USA is better . Home prices and Medical services is big issue

I only received a PR card and returned to my home country. \nThere is absolutely no reason to live in Canada with wages that are below the cost of living, crazy prices, murderous monthly rent, and medical services that are frozen in time.

I only received a PR card and returned to my home country. \nThere is absolutely no reason to live in Canada with wages that are below the cost of living, crazy prices, murderous monthly rent, and medical services that are frozen in time.

Weird I don't care in the least if migrants leave here for other areas. But it's certainly ironic that a major factor in housing prices (too high immigration with not enough homes being built to compensate) is in fact contributing to this.

Boy, the government sure screwed things up didn't they? Nobody to work building new homes, old homes are astronomical in price. Looks like it's time for everyone to leave.

The problem is not immigration. During the pandemic there was no immigration for a few years, yet the price of the houses increased by about 20% a year or more. The problem is demand and demand is hugely increased by investors. Investors don't live in the place and in many cases they don't even rent the place. At lease half of those seeking to buy houses are investors. Therefore investors double the demand.\n\nHouses are limited supply whereas investors are numerous and have access to unlimited money either cash or loan from banks. We have created a housing market. It means we made it something like share market where everyone can put their money in it and buy as many as they want. During the pandemic demand for toilet paper became very high and there were limited supply. Supermarkets limited one or 2 packs per customer because it would be unfair for some to stack most of the papers and others have none. Some customers wanted to buy tons and fill their homes with toilet paper and they did. House and land is limited too. Why can't we do the same for homes? Demand is important and always going to be there from those who want to move there and live in it. Investors buy many homes and bid higher in value than normal people because they have more money and they know the price will rise. They raise the demand sky high. Specially if they're foreign investors. They can buy hundreds of apartments or houses and leave it empty.\n\nAs I mentioned, we do need certain amount of demand for housing and that demand is going to be always there by people who want to buy and live in it whether they're local or immigrants. However, when many investors come in and they have greed, the demand becomes sky high and the price will become so high that only investors can afford them. Rent also depends on the value of the property. The higher the price, the higher the rent. So the issue is investors. Too many of them with too much greed.

I recently travelled to Oregon & Washington state to see a Canadian friend who married an American. I found the price of food to be very expensive or on par with Canada, plus the exchange rate. The busy freeways traumatized me. I was stressed about avoiding medical care or any legal issues during my trip. While visiting a popular beach resort town, I was surprised to observe Americans talking loudly on their cell phones, oblivious to the beauty of the ocean & everyone around them. I noticed rich locals driving their rare convertibles. I was relieved to come back to my life in Canada. \nP.S. my friend recently got COVID, $3000 medical bill to pay, & spent most of the time recovering at home - almost died ?

If you are saving 1 lakhs per month which is possible in IT/software job then there is no point in going to Canada.\nIf company transfers you, then it makes sense. Otherwise it is foolish to go Canada. Canada govt. is taking million of immigrants and due to this real estate prices have gone up like 2-3 times. Your partner and you will have to work for atleast 20-25 years to pay the home loan.

1. I'm a ??can who moved to Europe 22yrs ago through recruitment agency - the employer paid for my professional REGISTRATION with the nursing board, for my work authorisation permit before I even left, sent me a written 2 yr work contract, the flight(return), a taxi pick up from airport & accommodation for 2 the 1st weeks bnb.\n2. I had worked in ?? for 15yrs, 3 diplomas and a post grad degree, I and had bought myself a small property 4yrs into my career on a 60% government subsidy.\n3. I was in a management position for over 7yrs. \n4. Looking back now, the people I went to college with got millions of Rands at age 60 for their retirement pension. \n5. I am waiting to be 65 for a mere €32 000 retirement lump sum and a weekly income of about €400 plus. \n6. I bought myself a small property after renting for 9yrs here, it was not easy to raise funds while paying rent which is HALF YOUR SALARY, but it was worth it. I still have a balance on my bond which my pension lump sum wont even shift\n6. The regrets I have is that:\ni) I missed out on family, friends and christianity quality life, \nii) I spent too much money flying home every yr and sometimes 2 X a yr to keep my sanity and to bond with my family - adult kids and siblings & now grandkids\niii) I could have had a fair and equal opportunities to improve have more accademic and work status in my own country than in a foreign land & my experienced would have been not only recognised when it suits the employer, but it could have been openly VALUED and NURTURED if I was serving in my own country\niv) I could have retired 3 yrs ago and had a paid up bond and a nice retirement car\nThe POSITIVE side is that: \ni) I have a property in a good area that I can rent out for extra income \nii) I have enjoyed travelling around the world and living in A relatively SAFE COUNTRY for over a decade.\niii) I have come to realise that - \na) There's no place like home - we often take for granted, the standards of practice and quality of education and customer service and the advancement in technology both in both education, work and BANKING in our countries untill we travel and live abroad\nb) it is easy to bring your expertise & work ethics abroad and work like and educated slave for a small price\nc) I have come to realise that, Half the time, most of Our stories as a nation are told by someone else, and the world keeps the narrative going.

I am a South Sudanese Canadian who pretty much grew up in Kenya before travelling abroad. Life in Canada is not easy.. especially after Trudeau came to power.\nI make pretty good income in IT, but i pay like 30% in taxes...30% of my money is gone. I dont see it. I know others who pay more than me in taxes. The grocery is also high, as are the other bills. Rent is really high. In my city, an average house costs 800k. Even my cousins in the US are shocked at the prices of homes in Canada. My rent is much higher than the mortgages being paid by my cousins in the US. In places like Toronto or Vancouver, it is worse.\n\nI went back to Africa last time and saw so many opportunities, that i made my decision yo transition slowly back home. \n\nThe problem i find with most Africans is thinking of finding jobs in the government or private sector. If you are a Kenyan, or Ethiopian or South Sudanese, etc, think of creating jobs instead.\n\nThe opportunities for entrepreneurship in Africa are endless because alot of the problems in society have not yet been resolved. You dont have to have alot of capital to start farming for example. So many Africans have access to free ancestral lands that they can farm and make money from. But many want to spend time in the cities instead. A change of mindset is needed.

Yep, I emigrated to Canada (Toronto) in 1994 and lived there for seven years. The property prices were out of reach even then, so we moved east and bought a house in Pickering. We then moved to Calgary in 2002 and started a business. Now retired, own properties, and grateful to help others find reasonably priced accommodation. I speak often with my fellow immigrants, and many are returning home. Canada has become too expensive for them - and increasingly unsafe.

This is happening all over Canada. Housing prices are insane, especially Toronto, and Vancouver. Inflation, is kicking the standard of living hard. A whole generation has been priced out of home ownership.

Homelessness, mental health issues, and random crime are increasing everywhere. Dwindling social support and skyrocketing rent/ real estate prices will have dire consequences. We're all kicking the can down the road on these issues but the chickens will come home to roost eventually.

It’s getting harder to live in Toronto these days. The crime is going up and inflation and rent prices are through the roof. Never mind that with a full time job you can’t afford to eat out or buy grocery to have a decent meal at home.

Canada is not all what it's cracked up to be. High rent cost, high taxes, high food prices, depressing weather, woke AF and the list goes on and on. Your better off staying in your home country and opening up a shop or something.

I feel it’s almost an issue to point out that the average price of a home in Ontario is largely dictated by Toronto, it’s housing prices are head and shoulders above the rest of Ontario and you can get a home for half or less than half of what a condo is worth in Toronto. That city is a nightmare bubble of bullshit and affects statistics way too much

The problem with Canada’s economy is housing. Doug Ford scrapped rent controls for anything build after Nov 2018. His developer buddies can raise rents to whatever they want. In Niagara… a modest 2 bedroom unit just got hit with a rent $9500 as an f/u to the tenants. These crazy rents become the “fair market price”… and realtors use these crazy numbers to justify outrageous home prices…. For the commission.\n\nIt’s a Conservative issue… not a Trudeau issue. Housing is provincial. \n\nBtw… higher house costs means higher commercial costs. Store fronts. Manufacturing. Warehousing. Transport. All have land costs. All gets passed along to the consumer. \n\nBlame the right people.

I’m born & raised in Montreal, Quebec and while it’s extremely multicultural and has an incredible education system, we have been experiencing a continuous housing crisis. Every year the rent prices and general cost of living are skyrocketing yet wages remain the same. It’s actually becoming a huge problem in Montreal. Young people are being pushed out as prices are starting to little by little be comparable to Toronto. \nAnd don’t get me started on the hate Anglophones receive here. Even Montreal natives like myself who are historically English get discriminated against every day. \nThe Quebec government is pushing the English language out of Quebec, making it harder and harder for Anglophones to be able to function and live practically here. You can’t even go to the hospital and get service. If you don’t speak French you can’t call and speak with any government services, and even businesses are forced to have French names, and only conduct their business in the French language. \nI myself am bilingual, but for someone who doesn’t speak the language, or is learning having trouble it’s nearly impossible to live in Quebec as they wouldn’t even be able to get a job. The discrimination Anglophones receive is insane and we are seen as a ‘bottom of the barrel’ minority, which is so sad seeing that this is where I was born and raised and where I call my home. \nThey’re taking away more and more public & social services and literally funnelling multi millions of dollars of funding , which is desperately needed for homelessness and many other social problems we have within Montreal and it’s all now going towards pushing the French language in Montreal (we literally have what’s called the ‘language police’ who’s job is to enforce French. They will give businesses thousands of dollars of tickets and even shut them down all because someone is caught speaking English) \nHopefully something will change soon or else Montreal is going to continue to become a place completely taken over by hate and discrimination and it will experience a MASS exodus (which is already starting).

There's no inflation problem say it properly Trudeau carbon taxes and over immigration with out homes for people has sparked higher prices . You cannot put 44 percent on deasil and expect cheap groceries.

0:33: 80% of the Canadian population lives within 100 miles of the US border, with 50% living just south of this line. \n0:47: Real estate, mining, and manufacturing are the largest industries in Canada, concentrated in areas where economic activities are available. \n1:10: House prices in Canada have doubled since the financial crisis, fueled by government stimulus and low interest rates, leading to concerns about affordability and a majority of non-homeowners giving up on owning a home. \n5:51: Canadian businesses spend less on capital and R&D compared to their US counterparts. \n6:06: The US produces double the number of patents per person than Canada. \n6:18: Canada's income per person is significantly lower than America's, although income inequality is lower in Canada. \nRecap by Tammy AI

I recommend all my Nigerians to start a business in Nigeria ?? Canada cost of living and home prices are out of this world !

Our biggest problem is the amount of foreign investment and the sheer amount of immigration year over year. \n\nThere is some housing available (owned by landlords who own entire complexes) however either the prices are jacked way up or they are converted to a BNB unit which turns canadian home buyers away. \n\nWe do not have the infrastructure to support 500,000 new immigrants with government and native regulations stiffling the means to expand to support the influx of newcomers. Even then, most of the immigrants are tradesmen coming to a tech rich country.\n\nAlso our government is more corrupt than one would think with most of the larger corporations being government owned or partnered leading to a monopoly in many industries.

You ignored a major reason of the severe housing crisis. Chinese citizens buy up huge amounts of, specifically condos. And then they lay empty, because the condo is an investment, and if someone lives in it, they could damage it, lowering the value. These condos are then sold to other chinese citizens, each time they are sold the price goes up. When someone finally re-enters the market the asking price is far above the actual worth because the condo has been traded around to make sure everyone makes a profit. In BC, to try to fight there there is both an empty home tax and a foreign buyer tax. Meanwhile new high end condos continue to get built which are simply bought up by Chinese owners. I know a building manager in Vancouver, who showed me just how empty her building actually is.\n\nAnd for anyone who thinks I'm being racist by targeting Chinese citizens. Ask yourself why would real estate agencies have billboards entirely in Mandarin. Why do real estate websites have devoted sections entirely in Mandarin, but not one for French, an actual official language.

The blame falls on the government, Trudeau did nothing to build this country. We can't help our own people but we have high immigration. How can we support new comers with no growth, high prices and debt. The rent prices have increased so much and food prices and fuel prices just to name a few. Our kids will will never own homes and we better teach them about debt and spending if that is going to matter the way things are going. Trusting the banks with your money will be a big factor when they go cashless!

I don't know what the hell the federal govt. is doing with planning to let in 500,000 immigrants per year for the next decade. This is going to to drive up homes & rentals prices even more. More homeless people for sure !

I’m pretty sure the problem with Canadian housing prices is we allow too many foreign investors to buy houses without living in them or often even renting them. This leads to it being extremely difficult for everyone to find homes despite the fact that we have many vacant properties. Honestly we need to just outright ban people from but houses that no one lives in.

I feel like this video is a perfect analogy for the differences between the two immigration systems. If you want to get rich, you take your chances on the US and its lottery system. But if you're more interested in quality of life (better education and healthcare systems), then Canada is the better choice. Housing prices are an issue in both countries, and work from home is helping alleviate for many tech workers. \n\nNeither option is right or wrong, just which option is right for you.

I think that Trudeau has doubled home prices to benefit himself and his rich friends… Canada is doomed..

The obvious connection not being made here is when you let in a high amount of skilled labour without consideration for the size of the industry you put downward pressure on the average income of that industry. There is more thought out into the American system. Easy isn’t necessarily better. And don’t get me started on the price of housing. It’s actually outright ridiculous. But again there’s not much though in the system. Everyone wants to live in Toronto. Upward pressure on the price of homes. Many immigrants I meet actually want to leave.

As someone who thinks immigration is too high, this video is certainly an experience. It's basically just \n*Canada is far more accepting of immigrants than the US\n*Here are the negative effects of that on Canada (low wages, insane house prices)\n*that means we have to change US policies, cuz computers weren't even invented yet!1!1!\nI like it honestly. It's basically a video on how, through immigration, Canadian baby boomers have betrayed future generations (who can never own a home) in exchange for feeling better about themselves and phony baloney GDP

Toronto is the most multicultural city in the world as you accurately pointed out. It's one of the primary reasons I live here and is a great model for the world.\n\nYou're also correct that housing prices in Toronto are stratospheric making it almost impossible to buy a home and extremely challenging even to rent a one bedroom.

Here is the questions I don't think you asked - Why are home prices so high in Canada and high tech wages so much lower? Could it be that the difference in immigration policy that keeps wages low via over supply and not policing foreign buyers of real estate?

And immigration is now killing Canada.\nWe bring in far too many people compared to how many new homes we build and now the pricing of housing has DOUBLED.\nAlmost every city has tent cities because people can't even afford to pay rent on a 1 bedroom apartment.\nIn Toronto for example, you have to make $40 an hour just to afford a 1 bedroom apartment.

That's got to be the worst business idea I've ever seen from a sponsor. Coffee, delivered to your home, at cafe prices. What bell end would get that, who is too lazy to flick a fucken kettle switch on. Dumb!

People just conveniently ignore the basic conclusion that more immigration means more labour supply, and so lower wages, and it means higher housing demand, so higher home prices. Now Canada has home prices that are too WAY high, and everyone just conveniently ignores a major root cause.\nEdit:\nYes, a lot of people are pointing out zoning policy and NIMBYISM, and while those have a massive effect, we can see from the US, where these things are present to a similar extent but without so much immigration, that this alone can't raise housing prices to Canadian highs.\nEdit 2:\nI'm also not denying that there are legitimate moral arguments you could make in favour of immigration, but the adverse economic effects for the many in favour of the few cannot be denied.

One thing I would like to note is that Canada is not welcoming in only highly skilled workers. If you can work at a Tim Horton's you qualify. This has lead to a flood of new workers who HAVE to have a job in order to stay at a time where the existing labour pool is refusing work due to pay lagging far behind inflation for two decades. Those salaries discrepancies you listed are not exclusive to the tech sector, they are economy wide. Often you'll here talk of a labour shortage in Canada, but ask for the number of applicants to jobs and you quickly find out the reason no one accepted is because the full-time job offered requires a part-time job to barely make ends meet. \n\nAnother factor is that housing happens to be the bread and butter of ~40% of our MP's. Hell our Minister of Housing himself owns properties that have appreciated massively due to the lack of supply and high demand. He then goes on national TV and says high immigration will solve the housing crisis despite Canada already having over 4% of our entire labour force already in the construction industries (America is a little over 3%) and the men and women who build our houses being unable to afford the homes they build ($22.07/hr CAD average or ~$16.66 USD. compared to $22.29/hr USD). 14% of our national GDP is housing. 14% of our entire economy is just money changing hands internally with nothing of value made. \n\nThen you have the combo of landlords benefiting from the immigration programs who try and evict the tenants on their properties to replace them with immigrant labour. They then take the cost of rent right out of their salaries. The workers can't quit their jobs because if they don't have a job they are at risk of being deported and also loosing their homes so they end up shacking 8 to an apartment to try and make ends meet. This becomes the standard the rest of the economy has to meet. \n\nIt is a rare sight to see someone who is anti-immigrant in Canada, but the majority of people here understand that immigration is a problem the way it is currently run. You have people who come here hoping for a new life being forced to sleep outside under bridges because while they may have a job they don't have a home and the shelters are already 200% capacity. Tent cities are the norm in any major urban centre now. There are crack dens in Toronto that are the same price as Castles in the UK. And this problem is only going to get worse.

Were you only focusing on Single Family detached homes for your graph on housing prices??

The problem with Canadas economy is that the canadian government is 10000 percent dependant on running its economy using the IMPORTED money of so called immgrants from Asia and Middle east into Rear Estating, permanently creating hyper inflation in housing prices and ensuring the banking ponzi scheme does not collapse, as their money in real estate bails out Canadians and banks, via higher and higher and higher home prices. CUT THE CRAP AND LIES, this is 100 percent the economic policy and has been for years of Canadistan, the other is pouring 1000000 of so called foreign exchange students to pay 40000 for to attend one of the 1000s of crap fake colleges....to come to canada and get their prs and import and pend 100k ish per head in to the countrys economy.