I agree that is the obvious answer. If it doesn’t happen, what does it mean for the value of the dollar? Even if it plateaus, if rates come down in a few years prices will be even higher.
You have to think they’ll come down, or we are farther along in the fiat death spiral than many think.
I think we're both far along the fiat death spiral AND the supply/demand ratio in Ontario specifically is so out of whack that strong demand continues for years. Mike Moffat's data sets on this are pretty enlightening.
The Liberals are not going to win the next election, and the CPC plan to fix the supply / demand problem.
Not sure who Mike Moffat is, got a link to his thoughts?
The supply/demand problem is not likely to be fixed by anyone in power in a meaningful way because it literally gate keeps wealth creation for the rich and powerful.
💯 it’s not a supply problem. It’s a problem that Canadians put all their eggs in one basket and their houses become their retirement plan. They just keep buying houses at ridiculous prices.
Keep in mind, when the Canadian dollar is debased it comes directly on the backs of wage earners. The USD debasement is exported across many countries internationally. This could be one factor in why Aussie and Canadian real estate have outperformed US since 2008.
I think it’s more that US had its crash and people came to the realization that real estate isn’t a sure bet. Americans are also more likely to hold a variety of assets. Beavers love their houses and it’s made a lot of people a lot money. Recency bias.
Sorry, I don’t really understand what you mean.Are you taking about the outperformance in relative terms or in real terms? Or do you mean that the Canadian market has outperformed because the usd is stronger and Americans are biting Cad properties?
Can RE prices have outperformed US prices significantly. I think part of the reason for that is because the effect of the expansion of the CAD supply due to low rates is felt only in Canada. I’m theorizing that skyrocketing real estate prices are a strong indicator of debasement as Canadians end up monetizing their house as their SOV rather than Canadian dollars.
Oh, I see. The majority of those printed dollars have definitely found their way into the real estate market, rather than into the expansion of productive assets.
The oecd has stated that Canada will be the laggard over the next 15-20 years due to our lack of investment in infrastructure etc. our productivity gains have dwindled and will continue to hinder our prospects of growth moving forward.
Have you heard Pierre’s proposed solution? Literally it’s “remove the government gatekeepers”
Paretos principal. 80/20, it will always be.
And yet, the GTA PP numbers are still terrible. GTA loves the gates and the keepers.
Without the GTA suburbs PP can’t win. His Quebec numbers are even worste.
Correct, he has to pretend to be more progressive/Commie to get Ontario and/or pander to QC
Hahaha, exactly, while not pushing away the ppc voter. Not an easy task.
The PPC enthusiast loves to pretend they don’t exist in commie Canada and have some chance. It insufferable.
We call PPC maxis: freedom normies!
Spent over a year trying to orange pill that smooth brain demographic and we were stuck on pizza math and hacking private keys… maybe they could hack private keys with 99 0’s dice rolls though
They are right in almost every issue, but their delivery makes them incompatible with Canadian politics. Unelectable.
They are so bad, the LPC was leaking their ralies location just so PPC would come protest >.<
They make it easy for the NDP and LPC to label them with all their ‘isms and then frame the CPC as pandering to them and attempt to group them together. Meanwhile the Libs and NDP are basically the same party.
PPC is the useful idiot.
CPC are just under educated PPC.
LPC= CPC = NDP.
All globalist elites.
https://nostr.build/i/89534f01bf0eb507c05dde18645e981e2444e6561c6d17f3ec53350a2fbc5be0.jfif
This is why the only option is ‘BITCOINERS FOR TRUDEAU’!!
JDaddy is an accelerationist amongst a cohort of limp dick decelerationists like virtue signalling Pierre.
All I want from Pierre is to establish a beach head for Bitcoin. Removing gatekeepers sounds good, but practically speaking not counting on anything there.
Ontario has 250k new immigrants a year pumping demand. And is the country powerhouse. When the country’s econ is less than ideal, ppl move to Ontario for better pay and/or fitting jobs. It will be the last province to fall.
Idk - Alberta has real jobs and less government. Market is backed by oil and maintenance of entire energy infrastructure.
And Nova Scotia hasn’t really even seen much of a real estate boom, so I doubt we’ll see much of a crash there.
In my regarded opinion it’s B.C. and Ontario that will see the most damage
Agree.
That’s not true — prices in Halifax and surrounding area have about doubled in the last 5 years. Same with rent. The rest of NS not so much. Although wolfville, and south shore (Mahone bay and lunenberg) have also gone up quite a bit
Don’t get me wrong, I like all the things there. But, it’s hard to attract ppl in the Ontario scale, It’s too cold, land locked, no pipes, not many other industries, etc…
Alberta is definitely making a case for itself. People moving North often consider it. Politics could push people there eventually.
GTAers love the commie stuff.
Ontarios is run by unions and the manufacturing sector has been hollowed out as a result.
Unions only accelerate automation. Public sector unions are the real desease.
Could not agree more.
💯.
I’m certainly not a big believer in unions but there is something to say for organizing in the name of closing the gap that exists because wages lag inflation. Companies will absolutely underpay their employees for as long as they can get away with it.
However, fiat unions are a disease.
Public sector unions are the real problem. Governments are not allow to fail like businesses. You can’t just fire management. You can’t shrink it. Etc…
This is the argument unions have professed since their inception. They may have served a purpose before, but I don’t think so anymore. When I taught in one particular province my union took 10% of my paycheque. They then decided to go on strike and forced me to picket and wouldn’t let me coach any sports after school. I haven’t taught in the public sector since. I work at a private school, on a yearly contract that gets renewed each year, no tenure, and get a bonus based on performance.
I don’t think what I do is right for everyone and unions may be helpful for some, but I hated the lack of control and their ability to affect my decisions.
Moffat just posted date saying record numbers of people are leaving Ontario for other provinces. A net difference around 80k over those coming in from other provinces.
National immigration is probably still offsetting it though.
Also noticed a trend of people moving north.
No one wants to live in a covid anti-freedom area especially in 2023.
Sadly, lots of ppl do.
Was wild for me to watch NHL games on TV with no fans in the arenas when the games were in Montreal when literally every NHL stadium in the US was sold out post-covid.
It’s waning though. Cost of living, and ever higher taxes, are hurting.
Yes, center north Ontario is growing fast.
Ontario’s the most indebted province in the country and the manufacturing sector has been hollowed out.
