4 ms·

> At first glance, it looks like those measures will only serve to devalue the tech salaries even more (already at a considerable discount over US ones) and mak

> At first glance, it looks like those measures will only serve to devalue the tech salaries even more (already at a considerable discount over US ones) and make the housing situation even worse That's exactly the point, but they call it "addressing a skills shortage" and there is a huge entrenched interest in keeping the property bubble going higher and higher. Mortgage rates should be slaughtering house prices, more scarcity is the only way to keep them high.

morkalork 3y ago
Seems like people are waiting to sell because of the high rates instead of settling for less.
tenpies 3y ago
> there is a huge entrenched interest in keeping the property bubble going higher and higher. Just to paint the picture, in Canada: * Prime Minister Trudeau is a trust fund kind with rental income * Finance Minister and Deputy Prime Minister Freeland, has four mortgages * Housing Minister Hussen literally purchased another rental property recently * 1/3 of all Liberal MPs have rental income in their disclosures What Trudeau is doing to Canada is what my friends and I call the Slum Lord's Delight scenario: * Flood the country with people who will need housing, while offering them no warning of just how unaffordable things are. * Do absolutely nothing to increase housing supply. Add as many new taxes, fees, and regulation as you can to ensure new supply declines. * Do everything you can to allow younger Canadians and new immigrants to borrow more and pay more for housing. Your solution to affordability is helping them borrow more, not reducing prices. * If anyone complains about immigration, call them racist. * If anyone complains about housing, blame the provinces and municipalities (whichever level isn't Liberal). * If anyone thinks of protesting, go Trucker Protests / Tiananmen Square on them I would not be surprised if Trudeau achieves a China-esque market before he's eventually removed or self-exiles, meaning a market where people never actually own the land, but rather have long term rentals (under a different name) of the property from a State owned company or monopoly.
- cmrdporcupine 3y ago
  You're leaving out the fact that the Conservative party is basically identical in structural composition and interests in keeping the housing market bloated. To the point where Pierre stands up in the HoC and goes after Trudeau for BoC rate increases... because his boomer constituency needs Number Go Up because that's their only retirement option after three decades of joint Liberal-Conservative policy. It's a pyramid scheme, and actually the Cons were even worse for it when they were in power federally, and a huge problem with Ontario right now is precisely the provincial Cons in Ontario. Same sauce, slightly different flavour.
  - version_five 3y ago
    Yes, that's true on most issues. Other than Trudeau's particular abhorrent personality, there is no fundamental difference between the liberals and conservatives on any substantive issue. They just have slightly different pork barrel projects and stupid tax credits.
    - cmrdporcupine 3y ago
      It's western energy sector vs central banking and finance, same as it's been for decades :-(

morkalork 3y ago

Seems like people are waiting to sell because of the high rates instead of settling for less.

tenpies 3y ago

> there is a huge entrenched interest in keeping the property bubble going higher and higher. Just to paint the picture, in Canada: * Prime Minister Trudeau is a trust fund kind with rental income * Finance Minister and Deputy Prime Minister Freeland, has four mortgages * Housing Minister Hussen literally purchased another rental property recently * 1/3 of all Liberal MPs have rental income in their disclosures What Trudeau is doing to Canada is what my friends and I call the Slum Lord's Delight scenario: * Flood the country with people who will need housing, while offering them no warning of just how unaffordable things are. * Do absolutely nothing to increase housing supply. Add as many new taxes, fees, and regulation as you can to ensure new supply declines. * Do everything you can to allow younger Canadians and new immigrants to borrow more and pay more for housing. Your solution to affordability is helping them borrow more, not reducing prices. * If anyone complains about immigration, call them racist. * If anyone complains about housing, blame the provinces and municipalities (whichever level isn't Liberal). * If anyone thinks of protesting, go Trucker Protests / Tiananmen Square on them I would not be surprised if Trudeau achieves a China-esque market before he's eventually removed or self-exiles, meaning a market where people never actually own the land, but rather have long term rentals (under a different name) of the property from a State owned company or monopoly.

cmrdporcupine 3y ago
You're leaving out the fact that the Conservative party is basically identical in structural composition and interests in keeping the housing market bloated. To the point where Pierre stands up in the HoC and goes after Trudeau for BoC rate increases... because his boomer constituency needs Number Go Up because that's their only retirement option after three decades of joint Liberal-Conservative policy. It's a pyramid scheme, and actually the Cons were even worse for it when they were in power federally, and a huge problem with Ontario right now is precisely the provincial Cons in Ontario. Same sauce, slightly different flavour.
- version_five 3y ago
  Yes, that's true on most issues. Other than Trudeau's particular abhorrent personality, there is no fundamental difference between the liberals and conservatives on any substantive issue. They just have slightly different pork barrel projects and stupid tax credits.
  - cmrdporcupine 3y ago
    It's western energy sector vs central banking and finance, same as it's been for decades :-(