To start off with…this is Liberal Housing Minister Sean Fraser, if you weren’t already aware. And despite Canada moving into 30 year mortgages, to allow people to rent their homes for additional spans of time instead of actually owning (which will undoubtedly move to 50 year mortgages), these clowns have done absolutely nothing to support the market.
Sending out hundreds of millions of dollars to municipalities to build inward and open up blanket rezoning, which nobody who owns a house actually wants, they’ve accomplished a negative scoring…especially since they keep the flood of immigrants pouring into a situation where there is already no housing availability.
The issues we face cannot be built in a single year, when 10% of the population of Canada has only just arrived in the last 5 years - another 750k expected to arrive in 2024.
In Calgary, last year, builders were already 2 years out on possession dates.
Appreciating that not every city will be the same, a lot of the areas that have jobs to go with an unaffordable house with an unaffordable mortgage…are going to be the same. With the now, 30 year mortgages, this will drive the market past the brink.
And…not to mention, for loaning money for an extended length of time, will undoubtedly drive up mortgage rates because it absolutely HAS TO!
Anyways…
Sean sat in a presser with 2 journos…one of them set to mute and just left. Went out for a dart, maybe a pee break, maybe even fell asleep…and he ended up closing down the meeting with a sheepish grin, looking like the total loser that he is.
Honestly…I can’t see how we haven’t reached the violence part of this show yet.
When are people going to make those who have crushed their futures feel as unsafe as they do?
You know you're a total loser when...