The Canadian Housing Crisis Explained

Oh hi 👋 Thanks for the shoutout! I'll try to get more of my analytical videos uploaded here for my fellow nerds when I get a chance.

Canada is continually getting worse. Horribly over-rated country.

im surprised people visit places like netherlands austria france or any other city with great transit
cant we do it here?

bro what the fuck why would they implement a cut off on something so permanent as a person signing on for a fixed interest rate ??? why does the gov in canada just allow that

Very informative video! 👍🏻

tHIS IS A TIMEBOMB...

Too few houses, too many immigrants, government economic imbecility.

Here, let me explain it:

You build 286,000 homes a year.
You bring in 450,000 immigrants a year, on top of the natural birth rate.
You've now got a housing crisis.
Enjoy.

Wages??? The basic premise is wrong. I don't believe this man understands business much less bagels. perhaps this man should take up a a construction trade, get an education on housing construction materials, add over valued real estate prices to begin with. The lending institutions, the municipal building codes, the location, etc etc etc. The aforementioned is why people cant afford a home. Uneducated, non professionals working at McDonalds, the local hardware store, much less a man making $100,000 or more will rarely own squat these days. The disproportionate rules versus person's low wage crack on.

Canada is so awesome. If being sad and pathetic and the laughing stock of the world was the definition of awesome

JUST STOP BUYING PEOPLE. It's that simple. Rent a house or apartment. You would actually make money with saving and investment with a cheaper rental house instead of buying a house at that is extremely overpriced and making a life long debt for it.

If consumer stops buying, prices drop. It's literally basic knowledge. Once the price drops to a logical actual price, then you buy with all the money that you saved from renting.
This is also applicable to everything in the market. Food prices would go down if you stop spending too much on it. We live in a world of excess where throwing out things and buying new is cheaper than repairing.

Lack of housing density, not supply. You need to build up, not out, to make an affordable and livable city. To suggest it's supply is playing into condo developer's greedy hands.

I do not expect to ever own a house, at least not until both my parents happen to die. It’s simply not doable on a single income anymore

Immigration is the cause. Stop importing the world.

While I partially agree with the stock of homes issue, I can say that there are some other things that are driving prices. Flippers, foreign buyers, corporations owning properties for profit and estate agents buying units and selling them upon completion.
We have units in our town house complex that have been bought by flippers. The amount of time these people own the property is only as long as it takes them to sell it after changing the knobs/door hinges and maybe a coat of paint. These quick and rapid sales for profit, drive up the local square footage pricing as each unit is based on previous sales similar units. So. If there are a lot of sales, the following one, marks slightly higher than the last…this is a problem. Which becomes a bigger problem when done by larger pools of people fueled by stupid shows like “love it..or list it Vancouver (kelowna)

Foreign buyers-. I met a random guy in my new auto repair shop. We had hours of waiting. We got to chatting. He talked about how his aunt who did. Or live in this country, held a controlling share of units (28). In a condo building in Toronto. He mentioned a story of how when the council wanted to vote and proceed on some motions, she could vote them up and down, depending on if she approved of them, due to the amount of properties she owned and each unit got 1 vote. ..
I said, your aunt is one of the problems and he agreed.
The last two, I shouldn’t need to expand on. These should be generally understood to be a problem. But I would like to share another one. I am a carpenter. I own my own business. When I worked on Vancouvers west side. I had at least 3 instances where random people, entered my job site and asked about how much the property was, and how they either had “a large portfolio of interested buyers, or were ready to talk to the owners and make an offer. This is not a lie or a joke. I said go away. In one case I had to “shoo!” Them off like flies.
Anyways. There is not exactly one problem, but a lot of them and they are solvable and barely a problem politically, if you can convince the people of the problem. I’m also sick of people saying that development is the sole problem, that is, that developers and their lack of ability to build is the problem. Look at how many buildings have gone up…everywhere. There are units flying up faster than companies can find workers to expand their businesses. The problem is money. Inflation of the pricing, caused by rapid sales which are hyper-inflated due to non organic owners, injecting themselves in the market for pure quick profit-all of which should be illegal.

I know a couple Canadians that sold their homes and moved to the US. Bought a few homes and now do what they want.

Immigration has ruined this country in more ways than one.

i love this channel, please keep it up Mr Coffin

Canada is the most docile and miss managed country in the world. How can people let it get this bad?

but 9 times property price to yearly wage is still a better ratio than most of places on this planet

This, needs to be fixed. Or the younger generations including my own are never going to be able to afford a house. It is crazy to me that a trailer Home once valued at $75,000 is now selling for $175000….. I just don’t see how in a society where the upcoming generations are, desiring, working, less, and more worklife balance. How any of them are going to be able to afford to live, unless they inherit.

That might be selfish but yeah, we have to sometimes, I'm personally hoping for a major collapse of the housing bubble.

Heres a much simpler and shorter version. Too many immigrants. Demand is far greater than the supply. Canada brought in ~750,000 adult, working and family starting aged immigrants last year.

I got really lucky in 2020 and was able to purchase a home in my town when the average home cost was at 350k as a private sale got 161.5k with interests being under 3%. if I hadn't got that I'd be still renting out a bachelor pad that had mold because I can't afford rent anywhere else.

I am still amazed how necessities like water, food and energy are controlled and subsidised by most countries' goverenment, but nobody seems to care about the insane speculation with housing

Okay I know this is completely unrelated to the video but this guy did not just call poutine "putin" LMFAO

Why does our government insist upon one family homes instead of apartment buildings. We can have some homes, but urban sprawl is taking away valuable farming land. We need to build up instead of out, spreading out isn't good for our country where 2/3 ish of the land is unusable for agriculture

Born and raised in BC and I'm leaving Canada permenantly over this single issue

Lets not treat homes like stocks big mistake

No-one is forced to live in the expensive provinces & cities. New Brunswick still offers the least expensive properties in the habitable zone. Land sells at only $15k/ acre in our neighbourhood, today! South Knowlesville

Per the usual, Canada is 15 years behind the US. You guys are so desperate to be like us you even copy our recessions lol. You guys cram yourselves right up against the American border, so of course you don't have enough housing. I live in Seattle and always meet these Vancouver residents that say how they'd give anything to be American and how they're so jealous of us.

What's crazy is that someone people are stupid enough to think this is Trudeau's fault. Don't get me wrong, he's a pos, but this isn't his fault. The conservatives before set us up on this path long ago

its a good thing that there are zoning restrictions, its what makes the city a nice place to live. as stated Canada has billion square kms of land. go build another city ffs

INTEREST RATES stop idiots from hanging themselves or jumping from 100 floor. OF COURSE the DEBT MIGRANTS need MORE CHEAP $$$ 😮 but money aint cheap and mistakes are costly NOW THE WATER RISES - THE BANKS RISE. THE rats RUN. ❤

IMMIGRATION 😂 is the problem. These fat lazy and stoopid migrants EXPECT 1800 per month PLUS FREE FOOD from food banks . NO MIGRATION.❤

You are worried about insulting a man called millennial moron 😂😂 🎉 great video! I’m a Canadian who was lucky and bought my first home in 2015 only problem is my family is growing and I am not sure if it is possible to upgrade to something bigger something that was $250k is now $400k on NB 😢

people are so used to ignoring this housing crisis i am not sure we're ever going to properly acknowledge it before everything implodes upon itself

It'd be interesting to see a video on what happens during and the aftermath, if there is to be a burst in the bubble.

In 12 days the market is already plumbing. When he says why is it no crashing yet? then follow with the graph of the crash starting lol

I live in Canada, and my household makes way below the median income level. Guess im screwed

Stop immigration and the demand goes away. Our bankers have done this deliberately.

It’s immigration. Stop simping.

so you're saying we keep killing the elites until house prices go down?

Imagine being in charge of immigration and letting in 1 million immigrants and still having a lack of skilled labour!
Thanks Trudeau for the useless virtue signalling immigration policy!
FJT🇨🇦

I live on the Gaspé peninsula in Quebec, where, until recently, you could get a 2 story Jersey style house and 10 acres for under 200k...in a non tourism heave area, that is. Percé is a whole different kettle of fish. Unemployment, due to the large population of seasonal work (tourism and Lobster/Crab/Shrimp/Herring fisheries) is way above the Provincial and National average, driving cost of living way down over all. We saved for a house for the last 15 years. Now, the same house that was listed for $150K is now selling for almost $500K. We are a rural fishing community where the nearest Walmart is 2 hours away (in another Province), (good)fast food/(good)restaurants are minimum 45 minutes away, and hospitals are minimum an hour away. We have a Timmy Ho's within 10 minutes and an overpriced IGA monopoly with unreliably "fresh...ish" produce which obligates us to burn fuel every day to do groceries. If my wife wasn't a tenured teacher(lowest salaries in Canada), with 15 years seniority, we would be struggling financially a lot more, but home ownership is now a pipe dream.

The sad thing is, is that even in the very rural area's houses are starting to get quite expensive. My dad bought a house way out in the middle of nowhere for around 90k and at the time there were others for around that price, just 3 years later however and those same houses were going for 300,000k.

Student = Foreigner(Asian)

forget to mention how conservatives have blocked every motion to make housing affordable and to protect tenants, now landlords are given free reign to throw out paying tenants for no reason, leading to high prices as needs increase.

Damn right we need more skilled workers, I'm 31 and started my own construction business.
I'm making crazy money (over 200k) but there isn't any younger workers coming into the industry.

Kids, come work in construction! Make bank! 😊

My man totally forgot how we're pumping up our population at the same time.