179
Canada likely sitting on the largest housing bubble of all time: Strategist - BNN Bloomberg
(www.bnnbloomberg.ca)
this post was submitted on 23 Aug 2023
179 points (95.9% liked)
Canada
7195 readers
530 users here now
What's going on Canada?
Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Local Communities
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
🏒 Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown - Toronto Blue Jays
Basketball
- List of All Teams:
unknown - Toronto Raptors
Soccer
- List of All Teams:
unknown - General Community: /c/CanadaSoccer
- Toronto FC
💻 Universities
💵 Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
- Canada Politics
- General:
- By Province:
🍁 Social and Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I'm starting to think you have too much to lose to care for people not being able to live because houses are too expensive.
You think people are able to live if they lose their job because the whole economy crashes?
The only housing I own is a 3 season cottage that we paid 50k back in 2020 at the peak of demand for cottages (that gives you an idea how much of a piece of shit we bought), I don't have too much to lose, I just realize the consequences of the bubble bursting and these consequences will most definitely hurt those who are already suffering a lot more than the status quo.
Finance is not the economy. And housing should not be a free market. That's the whole problem with it today. When you make housing a finance product, you get what we have today. It's fucked up and it needs to be collapsed and redone.
Agreed. We should regulate it. First, we should zone areas of land as only being for certain types of homes. This will ensure that the detached mansion you always dreamed of will not be usurped by some developer wanting to build condos. Next, we should regulate the structures so that someone doesn’t try to build a small/tiny home where you want your glorious mansion. Third, we enforce only one structure per property. Your mansion needs a sizeable backyard for your pool! I have more ideas, but think that’s a good start.
Oh wait.
I'll be the first to vote in favor of a non profit crown corporation taking control over anything that has more than 6 units and to require being registered as a company to own 4 to 6 units!