When foreign money floods the housing market, home prices surge.
When foreign money exits, prices crash.
If the Liberals removes the foreign buyer ban on Jan 1, the goal will be to drive prices higher, as profit-driven foreign investors require it.
Finance Minister François-Philippe Champagne recently told reporters in Ottawa that the federal government is "mulling its options" ahead of the foreign homebuyers ban expiring at the end of the year.
"We’re looking at all the options that we have in front of us, considering where the market is going, what has happened over the last few years... We want to make sure that we have a higher stock of housing opportunities for Canadians."
The HST rebate is not only for FTHBs for a reason 😉
Shoutout for the Ford and Carney governments for delivering this amazing pro-corporate landlords policy right on time.
Anyone knows why MoneyGram is suspending transfers?
The biggest bank in Canada is doing its part in promoting the propaganda. Claiming that “bottom appears to be in”, in the middle of a trade war and big waves of mortgage renewals.
How many times RBC has called the housing turn since 2022? Many times.
You will own nothing and you will be happy, serfs. - Elected Politicians
The Globe and Mail — “Condo investment fund set to benefit from Ontario’s proposed tax break” — on High Art Capital’s $1.3B fund and the $300M provincial loan
https://www.theglobeandmail.com/business/article-high-art-capital-condo-investment-fund-ontario-tax-break/
The Globe and Mail — “Real estate developer Jesta plans to buy $500-million of unsold Toronto condo stock” — Jesta’s bulk-buying plan and first $30M deal
https://www.theglobeandmail.com/business/article-real-estate-developer-jesta-toronto-condo-housing/
Welcome to a forever generation of serfs.
Generations will be renting “affordable housing” for the rest of their lives.
What is "affordable"? 30% of pre-tax income, which comes out to around $3k a month for rent (and you can bet it will be adjusted for inflation each year). That’s the affordable housing the Liberals have been promising for 11 years.
Are these the housing reforms and solutions you were hoping for?
Edit:
Some math for people asking about median income.
97k was Toronto’s median income in 2021 according to CMHC. Stat Canada states that income growth from 2021 to 2026 was between 20-25%. Assume a conservative 20%, then that income is now 116,428. 30% of that will be 2910 a month.
First, they price you out of buying. Now, they're pitching a generation of permanent renters as the new "affordable housing" solution. Because why pay 30% of your income for 25 years to actually own a home when you can pay 30% of your income forever?
It seems like the government is dragging its feet and hoping the public simply forgets about the impending expiration of the foreign homebuyer ban.
Now is the time to reach out to your local MPs and hold their feet to the fire. If they attempt to spin the narrative or gaslight you by claiming that letting this expire is somehow good for affordability, don't buy it. You only have to look at Australia's housing policy, the very model our government claims to be "inspired" by. Australia is one of the few countries with a housing market objectively worse than ours, and their approach has done nothing to cool down housing prices.
Call or email your MP today and make sure this stays on their radar.
Canadian Home Prices Surge In The East Coast, Drop in Ontario & BC.
The older generation took out loans 3 times their income and spent 30% of their earnings on single-family homes.
Now, the youth are expected to spend the exact same percentage (if not more) all their lifetime, for a rental that is smaller in size, lower in quality, and generates absolutely zero equity.
All the money goes straight to the landlords just to protect the assets of those who got in early using leveraged money.
—
Establishment in Ottawa (super majority of them are landlords and homeowners) call this a plan to solve the crisis.
CMHC forecast total starts of new homes to decline in 2026 to 241,400,
2027 to 223,400,
and further decline in 2028 to merely 211,900
Most of these houses will be rental, not family homes for ownership btw.
“We expect continued downward pressure on home prices and construction. Average prices will likely decline in 2026 and then rise slowly, while housing starts will continue to fall throughout the forecast period due to weak demand, high costs and elevated inventories.” - CMHC
Lastly, reminder that this establishment party has been promising “affordable” housing since 2015, and to “DOUBLE” housing starts since 2023.
Newfoundland, Saskatchewan, Prince Edward Island, Quebec and Manitoba are at all-time high.
Another historic milestone for Canadian affordability! 🥂🏡
Elbows up, youth and renters. We’re all in this together! 🚀
The beaverton article.