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New Canadian Politics Thread

www.thebeaverton.com

Backed into a corner, Liberals make deal to follow through on some of their election promises

OTTAWA - The federal Liberal and NDP parties have come to an agreement, where in exchange for passing confidence motions and budget bills, the Liberals will acquiesce and follow through on a fraction of policies they announced during the election.
www.thebeaverton.com www.thebeaverton.com

“This is a great example of parties compromising. The Liberals will compromise by actually implementing some progressive reforms instead of just promising them,” said NDP leader Jagmeet Singh. “And the NDP has compromised on our historic commitment to never getting anything done on a federal level.”


Though terms of the deal are still coming out, it appears the NDP will agree to let the Liberals stay in power until 2025 in exchange for movement on dental care and pharma care, both things the Liberals told voters they would do anyway.
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LeafGm said:
Something that comes to mind for me is that maybe housing should no longer be treated as a pure speculative commodity?

Because what’s driving up the prices more than a lack of supply or foreign buyers IMO are corporations and wealthy individuals buying up huge quantities of the available inventory so that they can turn around and rent it out and/or hold it as a rapidly appreciating asset on their balance sheet.

Maybe, at least when it comes to residential real estate, corporations should be out of that game altogether? And for individuals, maybe there should be a limit on the number of residential properties you own and don’t intend to live in?

Otherwise, what’s the eventual end game here for anyone who’s anywhere near one of Canada’s major population centres? Something reminiscent of the late Roman Republic, where small individual land/home owners essentially disappear, a small monied class owns all the property and everyone else forms a permanent underclass that rents for their entire lives?
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1.8% mortgages and prime plus .5 helocs are a big time culprit.

so are foreign buyers.

you need a family income of like 500k to save enough for a reasonable down payment and to service your mortgage without being house poor if you want to buy a house between dufferin / bayview and 407 / bloor without any family help/wealth
 
The comments agreeing are all from white men wearing sunglasses in their car profile photos calling Singh “Jughead”.

And most of them are cops.

A little cliche, no?
 
mbow30 said:
1.8% mortgages and prime plus .5 helocs are a big time culprit.

so are foreign buyers.

you need a family income of like 500k to save enough for a reasonable down payment and to service your mortgage without being house poor if you want to buy a house between dufferin / bayview and 407 / bloor without any family help/wealth
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Ms. Wayward and I are both lawyers. I'm in private practice and she works for a charity. We left Toronto in part because we realized we could never afford property that we wanted until we were like 50.

Of course, then the pandemic hit and all the upper canadians began invading our maritime haven (and property values jumped 30+%...)
 
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