This is another example of how clueless our government is. They are young for their positions and have experience at nothing especially housing or real life issues
Do you really need experience in mismanagement at any scale to then go on and mismanage the countries housing? I'm not convinced. Experience is one of those boomer terms that leads to idiots like this winding up in those positions in the first place. A group of men with the correct value set and no experience built our country. Why not us?
You expect a homeowner to spend $350,000 to create a garden suite and then you can't even evict the non-paying tenant for a year? Who is going to sign up for that?
I have a 1000 sq ft inlaw apartment in my basement I’d consider luxury. My wifes parents lived there until they couldn’t live alone and now have my sister renting it hopefully long term. There’s Zero Chance I’d rent it to a stranger or friend for obvious reasons. Imagine having someone living in your basement and they have more rights than you do
@@RC-fh2lktell this to anyone outside canada and they will be shocked that there are human beings living underground like cavemen. Call that luxury all you want .being deprived from fresh air in a basement is a nightmare .
The 1% of rich people think of how to invest their money to increase their wealth during the recession. While 99% of struggling hard-luck people think of how to survive without food and daily necessities in the recession and the coming hyperinflation
I don't think I need a finance advisor. I can manage my own money and investments. I don't want to pay someone else to tell me what to do with my hard-earned cash.
That's a risky attitude, My friend. You might be missing out on some valuable opportunities and strategies that a finance advisor can offer. A finance advisor can help you plan for your short-term and long-term goals, optimize your tax situation, diversify your portfolio, and avoid costly mistakes.
@@GibsonJames-gr3on I agree with You. A finance advisor can also provide you with objective and unbiased advice, especially when you are facing emotional or stressful situations. They can help you stay on track and avoid making impulsive decisions that can harm your financial future.
I used to think like you. I thought I knew enough about finance and investing to handle everything myself. But then I realized that I was spending too much time and energy on researching, analyzing, and monitoring my finances. I was also overwhelmed by the amount of information and options available. I decided to hire a finance advisor and it was one of the best decisions I ever made. They saved me a lot of time and money, and gave me peace of mind.
In times of financial stress, how about we look to the free market for solutions. No, instead we'll go for more govt that created the problem in the first place.Just keep us digging the hole deeper. Great report John. You're one of the few realtors with an honest opinion as to what's really going on. Thank you.
What do you think we've been doing this whole time? The free market doesn't work. If you even bothered to read the report put out by banks and developers like Minto, they said in their own report that the market could NOT supply what Canadians need and that non-market solutions were needed (because they only want to focus on luxury units and SFHs, instead of supplying the entire set of needs). So THE MARKET itself disagrees with you. Get your head out your ass.
We need to normalize a simple lifestyle and stop normalizing debt. Huge SUVs, huge houses and private universities are simply not necessary. I live within my budget and I sleep better at night knowing that if I lose my job tomorrow, ' be fine. I didn't buy the biggest house. I bought the one I could comfortably repay
Yeah can being frugal be sexy please? recently mentioned that I'm frugal to a young woman and she gave me the weirdest look... Being financially responsible is looked down on
I wish I could find it, but I remember reading a study once that claimed financially insolvent men had 1.5-2x more sexual partners than their financially solvent counterparts.
I think people should also seriously look into investing of some kind. Something that brings money back to your pocket, real estate, stocks, whatever can bring back value to their bank account rather than draining it. Obviously investing has its risks but so does just having money in depreciating assets or straight up liabilities.
Big house suv. Bruh you got people driving Honda civics, living in a 1 bedroom apartment and not a luxury one at that living paycheck to paycheck. The median rent is 2000. A lot of financial professionals especially the one I work with Samuel Peter Descovich agree that one should not spend more than 30% of their gross income on rent. That means you need to make a minimum of about $80,000. Interesting considering the median income is $54,000.
Thank you for sharing your experience and knowledge. Your coach was simple to discover online. I did my research on him before I wrote to him. He appears knowledgeable based on his online resume.
Hilarious how the modern war time housing is only multi unit dwellings targeted towards renters. I expect nothing and I am still disappointed. The Canadian government is going to have a big issue with immigrant retention in the coming decades. I doubt the majority of them came here with the dream of being a lifetime rental serf.
That’s not entirely true. I understood there are SFH designs that will be pre approved to build as well. The land is the bigger issue. Under-utilized land that isn’t an ecological or agricultural preserve ought to be developed for housing. I honestly think we need to develop new cities in areas with room to grow. Perhaps Thunder Bay and Prince George should be encouraged to grow substantially to reduce pressures in Toronto and Vancouver. I don’t know enough to know that these cities have a lot of expansion room but certainly more people should be encouraged to move there rather than cram into cities with limited space for growth, especially if people don’t want to live in non-SFHs.
@@dougpatterson7494 The problem with moving to Thunder Bay and Prince George and places similar is the lack of adequate healthcare facilities. As someone who has lived from coast to coast, that is a serious consideration for anyone, from retiree to young families. While I agree with encouraging folks to move to less dense areas, we also have to have the infrastructure to support it - or we are just like the government and their encouraging immigration without adequate infrastructure. And there is why so many folks are leaving this country - mega taxes, no infrastructure to show for those taxes, and the cost of living in the stratosphere.
Well@@jonflynn I prefer your style way more. I was following Luke for few months and really think that he is selling fear and bombastic news. Its not good journalism.
My partner and I have $200k saved and haven't been able to break into the market yet. I'm only now starting to see some homes an hour to two outside of Etobicoke hitting the $650k mark, both in our thirties, living with the in-laws. Thank goodness they've been understanding, but still I WANT MY OWN HOME haha. Thanks for the update Jon, it's really helpful.
Yup John. Nothing in the cards for middle class homeOWNERS who want to form families. As I've stated several times before, residential real estate must be de-commitized by tax policy to efficiently service this large cohort. Why only catering to developers, builders and the investor class? When most MPs/MPPs own investment properties and are in bed with developers, should anyone expect differently? There's NO federal political party that has publicly stated that residential real estate should be de-commoditized. Canada has been set up for mass partly unvetted immigration to live in high density residences, and the local population just goes for the ride - take it or leave it. Destroying Canada. So sad.
We design, build and operate modular / component / homebuilding factories. This government makes it impossible to operate in Canada. Municipalities have to be on board and land development costs need to be reasonable or its' not feasible. Not holding my breath. The small square footage ADU's and apartments are great for renters and investors, but not homeowners.
With today's building code I really doubt they'll be able to pull it off in a timely manner with developers willing without huge subsidies to the developers.
This will be a disaster......where do I start.......all the politicians will get the buddies in like pigs at the trough.....eg green fund. This government could not run a Lemonade Stand.
They don't want to spread towards Peterborough and so on, as the land owners there don't want new immigrants spreading to their areas. That's why the green belt was created I feel, so lets jam everyone in big cities, where we can control them easier.
Hey John Like your channel. In the wartime housing segment , I might have missed it but you should mention the VLA ( Veterans Land Act) that was very impactful in the Toronto area. Willowdale had many properties that veterans could purchase at very reasonable prices & get assistance in building their own homes.
This is a good thing for sure. But call it what it is, its streamlining purpose built rentals. I grew up in a wartime house in Regina. Whole neighborhoods of kinda the same house with different finishing touches on them. Box houses with one bath, one bedroom on the main and 2 small ones upstairs. Unfinished basement, which my dad finished and added a second small bathroom.. Nice big yard. No frills, but we were happy there. Was on a crescent street, only local traffic. My dad bought it for $8,000 in the early 70s. They would have to have parcels that were 100+ acres and build prefab townhouses for ownership to compare to the wartime effort i grew up in.
Love your work as always, but when I ran the numbers for Ottawa I got that it is DOWN about ~20% from peak, but used to be UP about 26% from current levels - depends on what you use as the denominator. As I understand it, when you say "% change from peak" the denominator is typically the peak price, leading the the smaller overall percentage decline. Perhaps I am wrong about this?
Hey thanks for catching that. Just checked and my peak number didn't include all residential (condos were excluded). I will update for next video and post a correction in the description of this video. Actual decline is 16.4% from peak or $124,000. Big difference, thanks again.
they are always late, just like now, they are too late to force the BOC to lower rates and allow some more young families to become home owners.@@jonflynn
in toronto they built these homes for returning service men... they cost about $4,000 1,100 sq ft brick bungalow... my neb... a tail gunner bought one in 47 and died in that home in 2007... the disconnect with reality of these idiot ministers is incredulous... great post Jon...
Jon, I agree with much of what you say. People should be able to aspire to own homes they want to live in. I also believe that people who live in nice big detached homes should not decide that others must live in high density neighbourhoods with views of concrete. That leads to inequality of class, and inequality eventually leads to conflict. Buying a detached home at 18 with a minimum wage job isn't going to happen, but buying a town house with some garden should be an available aspiration to everyone. Canada is big. Plenty of space for new towns close enough, and far enough from major cities. Requires big vision, and very long term planning, and not something for the current crisis. A crisis that all political parties are sectors of government are responsible for. Including parties that are unelectable, as not being electable means you have little influence. I think you said in an earlier video that 50% of a home is land cost, 30% is tax... that would suggest that housing costs can fall a LONG way, if that's the goal. Where I disagree with this video is that it is a bad idea to focus on large numbers of affordable (rental) housing. It would deliver many advantages: 1) If everyone can rent an affordable home, existing detached family homes won't keep being turned into multiple units, so will be available as family homes. Investors should be investing in building new homes, not hoarding existing homes. 2) Mass production of prefab components in factories speeds up the building process on site, and provides opportunities for new specialised businesses to get into an industry. There was a time when doors and windows were handmade on site. All are prefabricated now as standard size products, and that is good. The same can happen with bigger standard components in housing - even whole walls - with the same price efficiency and quality. 3) Perhaps most importantly, houses built as rentals, don't need to stay rentals. Get the housing stock built now, and argue later whether you want to change the rules. The business model is easier for building rentals. If we ever get to a position of over supply of rentals then they would be sold to individuals.
Crown lands should be available for development and be offered under certain conditions and criteria for lower prices ($10,000 or less) for families, seniors, and low-income people to build their own homes.
Sean Fraser is a WEF stooge. The Okanagan might have average price increasing but that is because sales are so low. I am seeing price decreases over the past year. The prices are only holding because of the lack of supply.
SF is a dork. Okanagan is a valley with limited water front or easy building areas left. You'll see these prices continue upward as soon as rates come down. @@jonflynn
People are excited to buy in Alberta. This just in: Calgary's MBM threshold for 2022 reached $55,771, a jump of nearly $4,000 from the year before. It puts Calgary's costs for basic needs higher than even Toronto and Vancouver. Ctvnews story. Oil prices are also collapsing. Expect large layoffs soon if it continues to sustain low prices.
@@priuss6109Market Basket Measure. As per stats Canada. Trying to find exactly what's in it is almost impossible. Post if you find something listing it in detail. The market basket measure is Canada's official measure of household income poverty. It defines how much a family of four would have to earn to afford a basic standard of living, and that's calculated by the cost of a basket of basic goods and services, including food, clothing, shelter and transportation.
All the respect! But increasing the rental units will reduce the pressure on units purchased by investors and reduce the demand and then increases affordability. That should benefit all.
Factories exist. They are prefab and mobile home manufacturers. Many are simple designs. Look at Northlander in Exeter. Cannot build them fast enough. Some problems are zoning. There are also a few manufacturing modular low rise apartment type buildings around now in Canada. I have a large paperback type book from the late sixties called House Designs prepared by architects for CMHC which has pen and paper illustrations and corresponding plans of multiple type of homes at least 50 of them. They are certainly smaller than the average house of today but efficient and handsome designs from architects across Canada at the time. Maybe part of the problem is everyone wants a McMansion like what has happened to our old street in Willowdale, Ontario. Parents bought a 3 bedroom story and a half for 17K in 1964. Got bulldozed in the early 2000's and the last time I checked they wanted 2.6 million for the replacement. No kids playing in the streets and no neighbors talking to neighbors over the backyard low fences. This Liberal idea is nothing new. Just the same old repackaged.
I would say your $200,000 to $300,000 down from the peak in the Fraser Valley is spot on. The only city that has faired well from peak to trough is Langley. Which is still seeing high demand for single detached and townhomes. This is due to many homeowners downsizing from Richmond, Delta, and Surrey.
I am happy that the federal government is coming up some sort of plan. There are quite a few small companies that currently build factory houses, I just hope that they include these in the planning and implementation. Just listened to the rest of the announcement so this will benefit large corporations and investment corporations. The regular citizens will be screwed again.
Drastic times calls for drastic measures. The government needs to take a step back by removing the development fees for rental towers. The development fee for a condo is $180 per sq ft. Rental towers would go up like weeds if the government removed the development fees.
5 and a half minutes is about 5 minutes and 29 seconds too long for me. Minister of Miracles Shawn Fraser has solved the housing crisis. It's the Architects!! So that's why the fees are sky high.....now I've heard it all.
Meet Ravi, the newest genius in BC. By the way his brother is a builder and investor in BC. I'm sure he owns some SFH's in the TOD zones, would love to know what the Khalon family RE holdings are. Maybe you can get him on the show Jon?@@jonflynn
Wartime houses ? That’s surprising. Why cant they simply speed up the city permissions for building houses ? Ofcuz they can but more the gap between demand and supply more the profit percentage. And dnt even mention about Rental market. Yesterday my neighbour listed his apartment for $2100 - no utilities included. And guess what. It was a big line of almost 25 people. For an apartment of 1 bedroom plus den. And i am right beside the same apartment where i am paying 1450 just because i moved in year 2019, really feel bad for those who standing in long queue.
Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?
Can you include Grey Bruce in your stats. We have a very unusual market because of the high wages at Bruce Nuclear and so many city people buying cottages in all the small towns,helping to prop up the market. Have a look for yourself if you haven’t already, at small towns like Port Elgin Southampton Kincardine Goderich . I’m just south of Kincardine and think the market over here is on crack lol
Great info and vid. Well the idea is ok for renters, but who is going to build them? I'm in the trades and you can't get enough workers to build these houses! After the war we had all the returning soldiers to help build. Is this in the right direction, yes, will help but what about us middle class home owners? Not much I guess.
With the new rezoning changes coming to BC, i see this as a good thing. If we can remove as much redtape for builders and just let them build - lets do it. Vancouver is not in a place to build single family housing, so density that is not a block of apartments sounds like a good idea to me. For remote areas, i get it - most people want single family homes. Not sure it helps in that case - i guess the majority of immigrants move to Van or Tor and this is where we need less single familiy housing and more density. I just hope they include small gardens as kids need somewhere to play safe. On a seperate note, would it be possible to add vancouver island - not including Victoria in your stats. Thanka for a great video.
Hey Jon Flynn, don't you think that increasing the supply of high-density housing will help the average homeowner in the long run? By satisfying some of the nationwide housing demand, the prices will start dropping back down.
I was in St. Catherine's this weekend. I stopped at McDonald's to use the bathroom. I had to ask the person at the counter to unlock the door. Is the crime rate so high that you can't just leave the bathrooms open? Why are houses so expensive in places like this? Crazy. Keep in mind that ontario is 1 million square kilometers. That converts to 247,105,381 acres. Why do we see land as a scarce commodity???? It's all Psychology and nobody is willing to say that the emperor is not wearing clothing.
No reference to zoning bylaws. How are they going to get municipalities to go along with it? Where are these zoning changes going to happen? Is it going to be a zoning bylaw change across the country? Are municipal permits and fees still going to be dragged out and expensive? It's an 70 year old catalog, not a plan.
Check out the TOD plan in BC. It is a good thing if you own or can own. It's horrible if you cannot own and rent. Jeesh, just let the free market run and all is good. OR at least better than lefty commies making policies.@@jonflynn
The only way to really improve the rate of new housing is 3 things - have some pre approved designs for single family or rentals etc across Canada - cut in half or eliminate taxes on new home construction - release more land at half the market price only for your first home construction or new home owner projects and if you lie have a penalty with cra
Do you have any info on PEI? We purchased a new home in 2022 for $649 and now there are million dollar homes all over the place but I dont think there selling? Any info would be Super!
There are alot of costs upfront (permits, fees, land price) before you can start to build a structure. Until they solve that problem, housing will not be cheap!
Hi John, As a first-time home buyer, I came across a co-op condo listing and am still trying to determine its pros and cons. Can you share your insights on the market dynamics, securing a mortgage for co-op condos, pros and cons and your thoughts on this type of condo? Your expert opinion would be greatly appreciated. Thank you.
Hmmm, over 4,500 municipalities in Canada with numerous zoning and covenant stipulations within each municipality? Meaning you have to build specific to each zone and covenant requirement. Let's not forget about the hundreds upon hundreds of different lot sizes and shapes within each of the municipalities which have completely different setback requirements from the lot lines, and the variances of house square footage to fit the allowable house area within any given lot. Then there is the topography of lots which are absurdly different everywhere and having completely different styles and shape requirements. These are but a few of the problems that tear apart this "plan" to fix the housing problem. This is not a "plan", this is an absolutely ridiculous out of touch token gesture that was meant to trick Canadians into thinking that our government is trying to do something. This so called "plan" does absolutely nothing. How long and how many millions of dollars will it take for the Government to come up with the 20,000 to 30,000 preapproved homes to fit all of the different municipal requirements? Oh yes, I forgot, this service of purchasing home blueprints to suite the municipal requirements have already been in place and online for over 20 years. And yes, these blueprints are available for less than 1% of the cost of building a home because of the outrageous costs of building a home in Canada. Land costs are the biggest issue with affordability. Land, infrastructure, land, building permits, land, zoning, land, covenants and land are the issues. Perhaps Mr. Fraser can advise Canadian's where they will be able to build these preapproved homes? The key component of Wartime Homes was that the Government was providing Veterans with the land to build them on. There was no red tape in those days and preapproved homes do not reduce the red tape of this day and age, it's just another bureaucratic threshold to overcome. Well done, I'm probably wrong and these preapproved homes will somehow completely fix the housing affordability in Canada. Who knew, a simple catalogue could fix such a complex problem? Looks like it's time to increase immigration four-fold. We're going to have a catalogue, and everyone will have an affordable place to live in no time. Thank goodness the problem has been solved!!!!!!!
Toronto has no more room to build (after building UP for decades), it is pretty high density, and yet it has one of the worst public transit systems for a major city in a developed country.
@@LakeNipissing well, building up the downtown core and building up the entire Toronto city is 2 different things. After WW2 a bad decision was made to implement an inclusionary single detached zoning. What we have right now is 30-80 storey buildings in the downtown and height plummets after you leave the downtown(except North York). We need more townhouses and 5-6 storey condos/apartments buildings like in Europe in every neighbourhood. That’s why public transit is relatively good in the downtown core but it sucks if you go to Scarborough or even Etobicoke. I am not even talking about how much it costs to support infrastructure in suburbs.
It's not a bad start imo. Should make renting cheaper. Cheaper rent should make housing more affordable and homes cheaper to buy since less people would be pushed to buy.
So these new homes will be worth 50k to build and the land will be 2+ million in Van or TO...doesn't really solve anything in Van or TO when land is in low supply.
always going to be the problem. The solution is free market. Free market is the only way to motivate people to get more skills, leading to higher paying jobs and you know where that leads. Successes!! Canada is great@@jonflynn
I think the best strategy for reducing the prices of single family homes is to depreciate the land like Cochrane. Dirt doesn’t need to be manufactured and is the single largest cost of building a single family home. Making the land virtually free to individuals who want to build a home would be an easy and effective way to reduce cost. It wasn’t that long ago when land was free. Make “location, location, location” irrelevant to price.
at 8:25 "Canadian wants single detached, single family home, not multiplexes.." Jon said. Well, it's NOT TRUE. These days there are a lot of people prefers a smaller home and/or share some amenities with the neighbors. Everything costs more even in the world, and not just in housing market Canada so not everyone wants to pay a lot to keep a house, unless you want/have a big family but again there's way less number of people nowadays want many children (bills and more bills). Besides, with the technology and communication advance, we have basically no privacy when living in a house, everyone can find you and stalking on you, so easy to know each move you make, that if you are concerned! It's 2023 not 1980 or 15th century when everyone could own a land and no one outside the village would know who you are . Sure, if Jon you have good idea to bring Canadian single detached home back to under 400K in the city and have personal information not google-able anymore, please bring it to the table lol.
Imagine being known as the government that had to break out the "Wartime housing Act" in a time that didn't have any wars that involved our actual country and with near zero interest rates and they still cant get enough housing built....
An initiative by govt to remedy market conditions that exclude the average individual from affordable shelter is precisely the correct approach to impact a speculative marketplace. Financialized investor driven hoarding created this crisis.
Desperate times call for desperate (wartime) measures. Creating more supply isn't a bad thing. Will it work? Maybe maybe not but at least they are trying SOMETHING instead of hoping and praying.
Here’s an idea: rather than try to cram Canadians into as little space as possible, why not think bigger. We have the land. We could call it Operation Spread the F Out. Create incentives for people to move to less populated areas. Incentives like new schools and shopping…and good marketing. So many jobs are still WFH and that is a HUGE difference to a few years ago when it would have been impossible for people to live beyond a certain radius to work. Think bigger. This nonsense they’re trying to push - everyone living in a shoebox has got to stop. We can do better. Here’s an example: a new community created outside of Windsor. Detached homes. 40x90ft lots. 1200sqft bungalow with basement. Single or no garage. 3bed/1.5bath. Small yard. Nicely designed homes and community - not fancy but cute and Pinterest worthy. Starting price of $399k. Owner occupied is mandatory.
When you say Average Canadians where do you get that from, genuinely? Is it just your average client or is there a study? Personally i want to live in a dense community where it makes sense to have frequent public transit but because all we make is Single detached houses i can't afford to live in those places. I'm stuck in the middle of nowhere driving everywhere. It's very frustrating. Like when i look at condos right. I can't get a 4 bedroom for a reasonable price. I need to move out to the burbs and buy a house. It just feels like developers/municipalities have this idea of an Average Canadian but mis the mark. Sorry to be ranty but i feel like the with zoning the way it is we can't tell what people actually want because all the possible safe options aren't available. Last thing. My ideal home would be to buy a triplex with retail space on the main floor but you don't see that in any community plans right. That doesn't exist new. I would need to complete for 100 year old buildings for the most part
Hi Jon , I need honest advice from honest JON . I have 350000 Dollars looking detached house from Pickering to Oshawa what you think should I wait or buy it my family income is 135000 K.
incentivize home ownership for endusers by subsidizing land and housing development in municipalities. End users who agree to stay for 5-10 years would get land at cost to build or hire a local builder to build. Similar funds to what's happening now but much more funds focused towards middle class single family homes. I would still incentivize density but it would be proportionate.
it's a good idea, but we all know the government isn't the best people to run efficient business models. This unfortunately would cost way too much tax $$ which would also drive up housing inflation.@@jonflynn
I disagree. Any measure that will increase housing supply will help alleviate the housing crisis We also need more density as land in urban areas is running out. But, it was just another announcement with no action. I thought he would be presenting first drafts. And I agree it is insufficient. For example I would have changed the by-laws (height, size, parking requirements) and fire codes (outdated 2 staircase rule) first
"its not what the average canadian wants but its needed" most cannot afford the house nor the land. The average canadian isnt a homeowner nor a landowner, or in fact may be struggling to maintain either, ginding creative (social) avenues. much like in post ww2, even while the american dream was pushed as described in the video, homes were often split into social spaces. "Why would i work?" Its exactly whats happening again as millenials and Gen Z generations enter the workers space and possible home ownership, both bigger burdens than generations before. Why would single family homes be encouraged if they are unsustainable, unaffordable and usually further from the work (the entire point of buying the home)? Hope this made sense as points against the second part of the video
haha, the fuel definitely is government policy and spending, the match is from desperate people watching their financial house get abused to the point of desperation. Cannot really blame them lol@@jonflynn
These wartime homes are way too dated and need a lot of updates to meet current building code requirements. Also I thought those homes were mostly detached single family residentials? I thought what we really needed are more well managed condos and rental housing?
They are likely examples of homes and sizes that were built then, 900-1100 sq ft. No, many people do not wish to rent and pay off someone else's property their whole life. Many want their own home.
Massive build out of rental housing will help affordability of SFH. The more stock of everything the better. Students and single people are forced to live in ridiculous scenarios currently, or even young parents who are trying to save for a down payment.
Great podcast Your not afraid to publish stats as is rather than colouring it 🔥 Firesales coming up 😂? If Liberals believe there is housing crisis,why not put brakes on record levels of immigration?
Thanks for bringing this to my attention. It's important. I do think you're not allowing yourself a long term view. Right off the get-go let me agree with you that this dog and pony pandering is more about politics and less about getting young, working families into homes they can own affordably. I must point out how it is not a complete failure, not only because of the positive social impact. But, also due to the effect more rental spaces in the cities, whether as geared to income and other social welfare type homes which are badly needed (as you correctly point out) or as single dwelling tiny homes will have on relieving pressure from other single dwelling homes converted to make-shift duplexes, rooming houses or short term rentals because the owners can skirt the regulations while making large profits. If 25% of the rental market finds cheaper, better accommodations, then that frees up 25% of places that these people rented. Presumably, a large % will come from off-use single dwelling homes thatvare no longer profitable as rentals because prices crashed... voila the feds have helped encourage affordable home ownership using the wonders of free market capitalism. Is it a fast solution? No! Is it the best solution? No. But it is a contributing solution without Trudeau diving head first into that cesspool of an empty hole otherwise known as federal-provincial relations. Again, I turn to my fave tirade... "Where the f are the provinces?" for this Constitutionaly mandated provincial concern?
Selling the design to developers would bring down the average costs hopefully tho, but yes not like hamilton mountain cute little bungalows we all want. I think this is a positive overall if they push these plans out before a new elections, if true and their only $10 lol but land and government cost to develope need to be discussed fully.
The national housing crisis will not be solved any time soon, expect for at least a decade or even longer! 8 million units of shoe-box size rentals would cost taxpayers between $2.3 to $2.8 Trillion, a heavy debt load on the burden of at least 6 generations (130 to 150 years) to pay off. Any newborn in Canada will have between $100,000 to $120,000 in debt to start life. Investing in Real Estate (speculators, house flippers, foreign investors, and Real Estate Casino Dealers) for the purpose of short-selling and profit-taking should be banned in Canada permanently. "Home is a life's basic necessity" and should never become an "Investment Commodity".
This is another example of how clueless our government is. They are young for their positions and have experience at nothing especially housing or real life issues
Senior citizens should be in the home, not in government.
virtue signalling and identity politics is all they're good at.
Nope. They are very good at what they do. And their job is to turn Canada into a socialist country, aligned with WEF. Easy peasy. We're almost there.
They are not clueless, it’s purposely done wake up pal .
Do you really need experience in mismanagement at any scale to then go on and mismanage the countries housing? I'm not convinced. Experience is one of those boomer terms that leads to idiots like this winding up in those positions in the first place. A group of men with the correct value set and no experience built our country. Why not us?
You expect a homeowner to spend $350,000 to create a garden suite and then you can't even evict the non-paying tenant for a year? Who is going to sign up for that?
Idiots mostly.
But hey, real estate only goes up!
I have a 1000 sq ft inlaw apartment in my basement I’d consider luxury. My wifes parents lived there until they couldn’t live alone and now have my sister renting it hopefully long term. There’s Zero Chance I’d rent it to a stranger or friend for obvious reasons. Imagine having someone living in your basement and they have more rights than you do
True , but its time for home owners to pay taxes on their rent too .lots of greed both ways .
@@RC-fh2lktell this to anyone outside canada and they will be shocked that there are human beings living underground like cavemen. Call that luxury all you want .being deprived from fresh air in a basement is a nightmare .
@@Xx-Anwar-xX you're right it's definitely a step in the wrong direction
The 1% of rich people think of how to invest their money to increase their wealth during the recession. While 99% of struggling hard-luck people think of how to survive without food and daily necessities in the recession and the coming hyperinflation
I don't think I need a finance advisor. I can manage my own money and investments. I don't want to pay someone else to tell me what to do with my hard-earned cash.
That's a risky attitude, My friend. You might be missing out on some valuable opportunities and strategies that a finance advisor can offer. A finance advisor can help you plan for your short-term and long-term goals, optimize your tax situation, diversify your portfolio, and avoid costly mistakes.
@@GibsonJames-gr3on I agree with You. A finance advisor can also provide you with objective and unbiased advice, especially when you are facing emotional or stressful situations. They can help you stay on track and avoid making impulsive decisions that can harm your financial future.
I used to think like you. I thought I knew enough about finance and investing to handle everything myself. But then I realized that I was spending too much time and energy on researching, analyzing, and monitoring my finances. I was also overwhelmed by the amount of information and options available. I decided to hire a finance advisor and it was one of the best decisions I ever made. They saved me a lot of time and money, and gave me peace of mind.
I wasn’t sure with investing money for a new car, but I’ve made over $58k since 2022 from learning from Chris and still bought my dream car. Thanks😭
In times of financial stress, how about we look to the free market for solutions.
No, instead we'll go for more govt that created the problem in the first place.Just keep us digging the hole deeper.
Great report John. You're one of the few realtors with an honest opinion as to what's really going on. Thank you.
What do you think we've been doing this whole time? The free market doesn't work. If you even bothered to read the report put out by banks and developers like Minto, they said in their own report that the market could NOT supply what Canadians need and that non-market solutions were needed (because they only want to focus on luxury units and SFHs, instead of supplying the entire set of needs). So THE MARKET itself disagrees with you. Get your head out your ass.
We need to normalize a simple lifestyle and stop normalizing debt. Huge SUVs, huge houses and private universities are simply not necessary. I live within my budget and I sleep better at night knowing that if I lose my job tomorrow, ' be fine. I didn't buy the biggest house. I bought the one I could comfortably repay
Yeah can being frugal be sexy please? recently mentioned that I'm frugal to a young woman and she gave me the weirdest look... Being financially responsible is looked down on
I wish I could find it, but I remember reading a study once that claimed financially insolvent men had 1.5-2x more sexual partners than their financially solvent counterparts.
I think people should also seriously look into investing of some kind. Something that brings money back to your pocket, real estate, stocks, whatever can bring back value to their bank account rather than draining it. Obviously investing has its risks but so does just having money in depreciating assets or straight up liabilities.
Big house suv. Bruh you got people driving Honda civics, living in a 1 bedroom apartment and not a luxury one at that living paycheck to paycheck.
The median rent is 2000. A lot of financial professionals especially the one I work with Samuel Peter Descovich agree that one should not spend more than 30% of their gross income on rent. That means you need to make a minimum of about $80,000. Interesting considering the median income is $54,000.
Thank you for sharing your experience and knowledge. Your coach was simple to discover online. I did my research on him before I wrote to him. He appears knowledgeable based on his online resume.
Hilarious how the modern war time housing is only multi unit dwellings targeted towards renters. I expect nothing and I am still disappointed. The Canadian government is going to have a big issue with immigrant retention in the coming decades. I doubt the majority of them came here with the dream of being a lifetime rental serf.
They're already leaving from what I hear
@@MyrtletheTurtle3867that’s excellent! Less migrants until we get this housing situation improved is a good thing.
That’s not entirely true. I understood there are SFH designs that will be pre approved to build as well.
The land is the bigger issue. Under-utilized land that isn’t an ecological or agricultural preserve ought to be developed for housing. I honestly think we need to develop new cities in areas with room to grow. Perhaps Thunder Bay and Prince George should be encouraged to grow substantially to reduce pressures in Toronto and Vancouver. I don’t know enough to know that these cities have a lot of expansion room but certainly more people should be encouraged to move there rather than cram into cities with limited space for growth, especially if people don’t want to live in non-SFHs.
@@dougpatterson7494 The problem with moving to Thunder Bay and Prince George and places similar is the lack of adequate healthcare facilities. As someone who has lived from coast to coast, that is a serious consideration for anyone, from retiree to young families. While I agree with encouraging folks to move to less dense areas, we also have to have the infrastructure to support it - or we are just like the government and their encouraging immigration without adequate infrastructure. And there is why so many folks are leaving this country - mega taxes, no infrastructure to show for those taxes, and the cost of living in the stratosphere.
@@MyrtletheTurtle3867too bad, they can’t find a single country in this world is both nice and affordable.
Great video Jon - thanks! This government keeps on delivering big time! Check out their latest policy on providing free tampons in Men's bathrooms. 🤣
Yeah I heard about that one for the military or something
@@jonflynn For all government offices across Canada soon to come to private business real soon like it or not.
Paid by your taxes. Just like mutilation procedures are paid by your taxes. 😊
No matter what the government does it will make ot worse. Either in the short term or long term or both
i agree
INSURANCE COMPANIES SHOULD JUST NOT PAY CLAIMS ON ANY SUSPICIOUS FIRES .
They will just put premiums up.
"The nine most terrifying words in the English language are: I'm from the Government, and I'm here to help. "
-Ronald Reagan
.... but, but, they're "giving" me things... for free... I only have to give up "some" freedoms...
9:19 . . . They did their best to keep the bobbing seal out of frame... and we were _almost_ spared from the sight of her.
I think they're on the right track by keeping the rates up to screw over the investors and they give up their multiple properties. 😊
good point
Yes. And then add in cheap “wartime” housing, and that could lower rents.
You will own nothing and be happy….
Jon , Many Thanks for your great video's. really enjoyed your collaboration with Luke @market Mania. Keep up the great work...!!!
Awesome thanks. Someone else just commented that I did an interview with a far right extremist from calgary lol
Well@@jonflynn I prefer your style way more. I was following Luke for few months and really think that he is selling fear and bombastic news. Its not good journalism.
My partner and I have $200k saved and haven't been able to break into the market yet. I'm only now starting to see some homes an hour to two outside of Etobicoke hitting the $650k mark, both in our thirties, living with the in-laws. Thank goodness they've been understanding, but still I WANT MY OWN HOME haha. Thanks for the update Jon, it's really helpful.
Keep up the good job with saving, your time will come
Be patient ... the worse is yet to come!
Yup John. Nothing in the cards for middle class homeOWNERS who want to form families. As I've stated several times before, residential real estate must be de-commitized by tax policy to efficiently service this large cohort. Why only catering to developers, builders and the investor class? When most MPs/MPPs own investment properties and are in bed with developers, should anyone expect differently? There's NO federal political party that has publicly stated that residential real estate should be de-commoditized. Canada has been set up for mass partly unvetted immigration to live in high density residences, and the local population just goes for the ride - take it or leave it. Destroying Canada. So sad.
We design, build and operate modular / component / homebuilding factories. This government makes it impossible to operate in Canada. Municipalities have to be on board and land development costs need to be reasonable or its' not feasible. Not holding my breath. The small square footage ADU's and apartments are great for renters and investors, but not homeowners.
Thanks for the comment and info.
Just what are they going to do to all of those who are mortgage free ?? The level of evil in the dictatorship is stunning.
Great vid, thanks for the history, brings perspective and shows the motives of today's corporation of Canada "leaders" vs back then.
Yes, you are BANG ON CORRECT…Hard working people are not the focus or concern!
With today's building code I really doubt they'll be able to pull it off in a timely manner with developers willing without huge subsidies to the developers.
most likely all smoke and mirrors
I smell Soviet style dormitories and building blocks that all look the same.
yep
This will be a disaster......where do I start.......all the politicians will get the buddies in like pigs at the trough.....eg green fund. This government could not run a Lemonade Stand.
Journalism student for a "finance minister" and a snowboard instructor for a "prime minister".
What could possibly go wrong????
@@LakeNipissing yes sir Neigbour!!!
“You will own nothing and be happy”- WEF
People don't look so happy these days. Thanks for the comment
WEF: -You will own nothing and be happy- *_We will own everything and you will be miserable_*
They don't want to spread towards Peterborough and so on, as the land owners there don't want new immigrants spreading to their areas. That's why the green belt was created I feel, so lets jam everyone in big cities, where we can control them easier.
exactly
Hey John
Like your channel. In the wartime housing segment , I might have missed it but you should mention the VLA ( Veterans Land Act) that was very impactful in the Toronto area. Willowdale had many properties that veterans could purchase at very reasonable prices & get assistance in building their own homes.
This is a good thing for sure.
But call it what it is, its streamlining purpose built rentals.
I grew up in a wartime house in Regina.
Whole neighborhoods of kinda the same house with different finishing touches on them.
Box houses with one bath, one bedroom on the main and 2 small ones upstairs.
Unfinished basement, which my dad finished and added a second small bathroom..
Nice big yard.
No frills, but we were happy there.
Was on a crescent street, only local traffic.
My dad bought it for $8,000 in the early 70s.
They would have to have parcels that were 100+ acres and build prefab townhouses for ownership to compare to the wartime effort i grew up in.
I agree it would be a good thing if they were building single family homes
@@jonflynn I'm actually a bit pissed that they would compare what they said today with what I know as a wartime neighborhood
Apples and oranges.
Lol
Love your work as always, but when I ran the numbers for Ottawa I got that it is DOWN about ~20% from peak, but used to be UP about 26% from current levels - depends on what you use as the denominator. As I understand it, when you say "% change from peak" the denominator is typically the peak price, leading the the smaller overall percentage decline. Perhaps I am wrong about this?
Hey thanks for catching that. Just checked and my peak number didn't include all residential (condos were excluded). I will update for next video and post a correction in the description of this video. Actual decline is 16.4% from peak or $124,000. Big difference, thanks again.
The gov is little late... the reality, they lost the control and they can't move fast enough... that will not end well.
Well said, I agree
they are always late, just like now, they are too late to force the BOC to lower rates and allow some more young families to become home owners.@@jonflynn
in toronto they built these homes for returning service men... they cost about $4,000 1,100 sq ft brick bungalow... my neb... a tail gunner bought one in 47 and died in that home in 2007... the disconnect with reality of these idiot ministers is incredulous... great post Jon...
Thanks Jon great vids. As for the war-time-housing you are right on the money 👍 they are very deceiving in their ways shame on them
Outstanding job! We should ask AI to take care of that Jon!
Thanks
Only home I'll ever afford is that haunted shed in the background
You a millionaire? Jesus I wish I had that kinda cash
@@donm2067 no but it's my dream 😂
I made that just for you
@@jonflynn thanks, I'll have to save up a little more 💰 though
Jon, I agree with much of what you say. People should be able to aspire to own homes they want to live in.
I also believe that people who live in nice big detached homes should not decide that others must live in high density neighbourhoods with views of concrete. That leads to inequality of class, and inequality eventually leads to conflict.
Buying a detached home at 18 with a minimum wage job isn't going to happen, but buying a town house with some garden should be an available aspiration to everyone. Canada is big. Plenty of space for new towns close enough, and far enough from major cities. Requires big vision, and very long term planning, and not something for the current crisis. A crisis that all political parties are sectors of government are responsible for. Including parties that are unelectable, as not being electable means you have little influence.
I think you said in an earlier video that 50% of a home is land cost, 30% is tax... that would suggest that housing costs can fall a LONG way, if that's the goal.
Where I disagree with this video is that it is a bad idea to focus on large numbers of affordable (rental) housing. It would deliver many advantages:
1) If everyone can rent an affordable home, existing detached family homes won't keep being turned into multiple units, so will be available as family homes. Investors should be investing in building new homes, not hoarding existing homes.
2) Mass production of prefab components in factories speeds up the building process on site, and provides opportunities for new specialised businesses to get into an industry. There was a time when doors and windows were handmade on site. All are prefabricated now as standard size products, and that is good. The same can happen with bigger standard components in housing - even whole walls - with the same price efficiency and quality.
3) Perhaps most importantly, houses built as rentals, don't need to stay rentals. Get the housing stock built now, and argue later whether you want to change the rules. The business model is easier for building rentals. If we ever get to a position of over supply of rentals then they would be sold to individuals.
Crown lands should be available for development and be offered under certain conditions and criteria for lower prices ($10,000 or less) for families, seniors, and low-income people to build their own homes.
Sean Fraser is a WEF stooge.
The Okanagan might have average price increasing but that is because sales are so low. I am seeing price decreases over the past year. The prices are only holding because of the lack of supply.
Thanks for the comment and info
SF is a dork. Okanagan is a valley with limited water front or easy building areas left. You'll see these prices continue upward as soon as rates come down. @@jonflynn
People are excited to buy in Alberta.
This just in:
Calgary's MBM threshold for 2022 reached $55,771, a jump of nearly $4,000 from the year before.
It puts Calgary's costs for basic needs higher than even Toronto and Vancouver.
Ctvnews story.
Oil prices are also collapsing. Expect large layoffs soon if it continues to sustain low prices.
MBM?
@@priuss6109 Same question... not aware of this acronym.
@@priuss6109Market Basket Measure. As per stats Canada.
Trying to find exactly what's in it is almost impossible. Post if you find something listing it in detail.
The market basket measure is Canada's official measure of household income poverty. It defines how much a family of four would have to earn to afford a basic standard of living, and that's calculated by the cost of a basket of basic goods and services, including food, clothing, shelter and transportation.
All the respect! But increasing the rental units will reduce the pressure on units purchased by investors and reduce the demand and then increases affordability. That should benefit all.
Factories exist. They are prefab and mobile home manufacturers. Many are simple designs. Look at Northlander in Exeter. Cannot build them fast enough. Some problems are zoning. There are also a few manufacturing modular low rise apartment type buildings around now in Canada. I have a large paperback type book from the late sixties called House Designs prepared by architects for CMHC which has pen and paper illustrations and corresponding plans of multiple type of homes at least 50 of them. They are certainly smaller than the average house of today but efficient and handsome designs from architects across Canada at the time. Maybe part of the problem is everyone wants a McMansion like what has happened to our old street in Willowdale, Ontario. Parents bought a 3 bedroom story and a half for 17K in 1964. Got bulldozed in the early 2000's and the last time I checked they wanted 2.6 million for the replacement. No kids playing in the streets and no neighbors talking to neighbors over the backyard low fences. This Liberal idea is nothing new. Just the same old repackaged.
I would say your $200,000 to $300,000 down from the peak in the Fraser Valley is spot on. The only city that has faired well from peak to trough is Langley. Which is still seeing high demand for single detached and townhomes. This is due to many homeowners downsizing from Richmond, Delta, and Surrey.
I am happy that the federal government is coming up some sort of plan. There are quite a few small companies that currently build factory houses, I just hope that they include these in the planning and implementation. Just listened to the rest of the announcement so this will benefit large corporations and investment corporations. The regular citizens will be screwed again.
This communist government is only building Soviet type housing, read between the lines.
Thanks for the comment
Drastic times calls for drastic measures. The government needs to take a step back by removing the development fees for rental towers. The development fee for a condo is $180 per sq ft. Rental towers would go up like weeds if the government removed the development fees.
5 and a half minutes is about 5 minutes and 29 seconds too long for me. Minister of Miracles Shawn Fraser has solved the housing crisis. It's the Architects!! So that's why the fees are sky high.....now I've heard it all.
I think he just graduated from trudeaus school of drama
Meet Ravi, the newest genius in BC. By the way his brother is a builder and investor in BC. I'm sure he owns some SFH's in the TOD zones, would love to know what the Khalon family RE holdings are. Maybe you can get him on the show Jon?@@jonflynn
Wartime houses ? That’s surprising. Why cant they simply speed up the city permissions for building houses ? Ofcuz they can but more the gap between demand and supply more the profit percentage. And dnt even mention about Rental market. Yesterday my neighbour listed his apartment for $2100 - no utilities included. And guess what. It was a big line of almost 25 people. For an apartment of 1 bedroom plus den. And i am right beside the same apartment where i am paying 1450 just because i moved in year 2019, really feel bad for those who standing in long queue.
how much do you think prices will fall in St Catharines? 2019 prices again or even worse
Worse. By a long shot
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Can you include Grey Bruce in your stats. We have a very unusual market because of the high wages at Bruce Nuclear and so many city people buying cottages in all the small towns,helping to prop up the market. Have a look for yourself if you haven’t already, at small towns like Port Elgin Southampton Kincardine Goderich . I’m just south of Kincardine and think the market over here is on crack lol
it would've been in the last video
Great info and vid. Well the idea is ok for renters, but who is going to build them? I'm in the trades and you can't get enough workers to build these houses! After the war we had all the returning soldiers to help build. Is this in the right direction, yes, will help but what about us middle class home owners? Not much I guess.
We have tonnes of idle workers, they just get government subsidies to sit at home and smoke cigarettes.
@@donm2067 100%
good point, thanks for sharing
Mystery fires…. Time to tighten up those building codes 🤣
this will be interesting
With the new rezoning changes coming to BC, i see this as a good thing. If we can remove as much redtape for builders and just let them build - lets do it. Vancouver is not in a place to build single family housing, so density that is not a block of apartments sounds like a good idea to me.
For remote areas, i get it - most people want single family homes. Not sure it helps in that case - i guess the majority of immigrants move to Van or Tor and this is where we need less single familiy housing and more density. I just hope they include small gardens as kids need somewhere to play safe.
On a seperate note, would it be possible to add vancouver island - not including Victoria in your stats.
Thanka for a great video.
Thanks for the comment. Should be able to add the island next month
funny this will make SFH lots worth more, so existing owners and investors will gain disproportionately@@jonflynn
cool! another JFREI release!
Thanks
Sean Fraser, knows so much ! 🎉
I am pretty sure he experienced the ones in mid of 80s through beginning of 90s , i believe he was born in 1984.😅
Hey Jon Flynn, don't you think that increasing the supply of high-density housing will help the average homeowner in the long run? By satisfying some of the nationwide housing demand, the prices will start dropping back down.
What exactly is a non profit developer 😅
One that isn’t beholden to shareholders. Aka the way housing should be built.
never heard of one. The closest thing is habitat for humanity which just coordinate volunteers to build single homes not develop land.
I was in St. Catherine's this weekend. I stopped at McDonald's to use the bathroom. I had to ask the person at the counter to unlock the door. Is the crime rate so high that you can't just leave the bathrooms open? Why are houses so expensive in places like this? Crazy. Keep in mind that ontario is 1 million square kilometers. That converts to 247,105,381 acres. Why do we see land as a scarce commodity???? It's all Psychology and nobody is willing to say that the emperor is not wearing clothing.
No reference to zoning bylaws. How are they going to get municipalities to go along with it? Where are these zoning changes going to happen? Is it going to be a zoning bylaw change across the country? Are municipal permits and fees still going to be dragged out and expensive? It's an 70 year old catalog, not a plan.
He talks about how he's already getting municipalities to amend zoning for more density and how it's all part of the plan.
Check out the TOD plan in BC. It is a good thing if you own or can own. It's horrible if you cannot own and rent. Jeesh, just let the free market run and all is good. OR at least better than lefty commies making policies.@@jonflynn
any non-profit developer here would be interested in building my new house ???
yeah me too, on some free or cheap land
Remember guys, Freeland comes from WEF :(
Klaus Schwab's darling.... she wrote his bio.
The only way to really improve the rate of new housing is 3 things - have some pre approved designs for single family or rentals etc across Canada - cut in half or eliminate taxes on new home construction - release more land at half the market price only for your first home construction or new home owner projects and if you lie have a penalty with cra
Start allowing units in duplexes and multiplexes to split title like flats in the UK.
Do you have any info on PEI? We purchased a new home in 2022 for $649 and now there are million dollar homes all over the place but I dont think there selling? Any info would be Super!
Just wait until calgary starts dropping. Going to put all those numbers to shame.
Very true
There are alot of costs upfront (permits, fees, land price) before you can start to build a structure. Until they solve that problem, housing will not be cheap!
there will be no cheap RE ever again. Just the odd desperate seller dropping their drawers one deal at a time.
Hi John,
As a first-time home buyer, I came across a co-op condo listing and am still trying to determine its pros and cons. Can you share your insights on the market dynamics, securing a mortgage for co-op condos, pros and cons and your thoughts on this type of condo? Your expert opinion would be greatly appreciated. Thank you.
Hmmm, over 4,500 municipalities in Canada with numerous zoning and covenant stipulations within each municipality? Meaning you have to build specific to each zone and covenant requirement. Let's not forget about the hundreds upon hundreds of different lot sizes and shapes within each of the municipalities which have completely different setback requirements from the lot lines, and the variances of house square footage to fit the allowable house area within any given lot. Then there is the topography of lots which are absurdly different everywhere and having completely different styles and shape requirements. These are but a few of the problems that tear apart this "plan" to fix the housing problem. This is not a "plan", this is an absolutely ridiculous out of touch token gesture that was meant to trick Canadians into thinking that our government is trying to do something.
This so called "plan" does absolutely nothing. How long and how many millions of dollars will it take for the Government to come up with the 20,000 to 30,000 preapproved homes to fit all of the different municipal requirements? Oh yes, I forgot, this service of purchasing home blueprints to suite the municipal requirements have already been in place and online for over 20 years. And yes, these blueprints are available for less than 1% of the cost of building a home because of the outrageous costs of building a home in Canada. Land costs are the biggest issue with affordability.
Land, infrastructure, land, building permits, land, zoning, land, covenants and land are the issues. Perhaps Mr. Fraser can advise Canadian's where they will be able to build these preapproved homes? The key component of Wartime Homes was that the Government was providing Veterans with the land to build them on. There was no red tape in those days and preapproved homes do not reduce the red tape of this day and age, it's just another bureaucratic threshold to overcome. Well done, I'm probably wrong and these preapproved homes will somehow completely fix the housing affordability in Canada. Who knew, a simple catalogue could fix such a complex problem?
Looks like it's time to increase immigration four-fold. We're going to have a catalogue, and everyone will have an affordable place to live in no time. Thank goodness the problem has been solved!!!!!!!
We need density. Public transit would be much better if Canadian cities had enough density
Thanks for the comment
Toronto has no more room to build (after building UP for decades), it is pretty high density, and yet it has one of the worst public transit systems for a major city in a developed country.
@@LakeNipissing well, building up the downtown core and building up the entire Toronto city is 2 different things. After WW2 a bad decision was made to implement an inclusionary single detached zoning. What we have right now is 30-80 storey buildings in the downtown and height plummets after you leave the downtown(except North York). We need more townhouses and 5-6 storey condos/apartments buildings like in Europe in every neighbourhood. That’s why public transit is relatively good in the downtown core but it sucks if you go to Scarborough or even Etobicoke. I am not even talking about how much it costs to support infrastructure in suburbs.
It's not a bad start imo. Should make renting cheaper. Cheaper rent should make housing more affordable and homes cheaper to buy since less people would be pushed to buy.
Pre approved 1 million dollar houses.
haha
So these new homes will be worth 50k to build and the land will be 2+ million in Van or TO...doesn't really solve anything in Van or TO when land is in low supply.
good point
always going to be the problem. The solution is free market. Free market is the only way to motivate people to get more skills, leading to higher paying jobs and you know where that leads. Successes!! Canada is great@@jonflynn
I think the best strategy for reducing the prices of single family homes is to depreciate the land like Cochrane. Dirt doesn’t need to be manufactured and is the single largest cost of building a single family home. Making the land virtually free to individuals who want to build a home would be an easy and effective way to reduce cost. It wasn’t that long ago when land was free. Make “location, location, location” irrelevant to price.
Seems like this is in lock step with “You will own nothing, and be happy” everything else is semantics.
Sounds like contractors not being paid
They are starting to go tits up
@@DTrent-uy1wl seen this happen in BC , Arson when contractors not paid on time
at 8:25 "Canadian wants single detached, single family home, not multiplexes.." Jon said. Well, it's NOT TRUE. These days there are a lot of people prefers a smaller home and/or share some amenities with the neighbors. Everything costs more even in the world, and not just in housing market Canada so not everyone wants to pay a lot to keep a house, unless you want/have a big family but again there's way less number of people nowadays want many children (bills and more bills). Besides, with the technology and communication advance, we have basically no privacy when living in a house, everyone can find you and stalking on you, so easy to know each move you make, that if you are concerned! It's 2023 not 1980 or 15th century when everyone could own a land and no one outside the village would know who you are . Sure, if Jon you have good idea to bring Canadian single detached home back to under 400K in the city and have personal information not google-able anymore, please bring it to the table lol.
Imagine being known as the government that had to break out the "Wartime housing Act" in a time that didn't have any wars that involved our actual country and with near zero interest rates and they still cant get enough housing built....
An initiative by govt to remedy market conditions that exclude the average individual from affordable shelter is precisely the correct approach to impact a speculative marketplace. Financialized investor driven hoarding created this crisis.
Desperate times call for desperate (wartime) measures. Creating more supply isn't a bad thing. Will it work? Maybe maybe not but at least they are trying SOMETHING instead of hoping and praying.
Thanks for the comment
TOD plan plus free market may actually work.@@jonflynn
Where the hell have this government been in the last 8 years?!?!?
Pursuing dumb and unnecessary ideals
let the free market run and this will all be solved in time
@@DummMoney-rr1fi The LIEberals WILL NOT let that happen.
Here’s an idea: rather than try to cram Canadians into as little space as possible, why not think bigger. We have the land. We could call it Operation Spread the F Out.
Create incentives for people to move to less populated areas. Incentives like new schools and shopping…and good marketing.
So many jobs are still WFH and that is a HUGE difference to a few years ago when it would have been impossible for people to live beyond a certain radius to work.
Think bigger. This nonsense they’re trying to push - everyone living in a shoebox has got to stop. We can do better.
Here’s an example: a new community created outside of Windsor. Detached homes. 40x90ft lots. 1200sqft bungalow with basement. Single or no garage. 3bed/1.5bath. Small yard. Nicely designed homes and community - not fancy but cute and Pinterest worthy. Starting price of $399k. Owner occupied is mandatory.
When you say Average Canadians where do you get that from, genuinely? Is it just your average client or is there a study?
Personally i want to live in a dense community where it makes sense to have frequent public transit but because all we make is Single detached houses i can't afford to live in those places. I'm stuck in the middle of nowhere driving everywhere. It's very frustrating. Like when i look at condos right. I can't get a 4 bedroom for a reasonable price. I need to move out to the burbs and buy a house. It just feels like developers/municipalities have this idea of an Average Canadian but mis the mark. Sorry to be ranty but i feel like the with zoning the way it is we can't tell what people actually want because all the possible safe options aren't available.
Last thing. My ideal home would be to buy a triplex with retail space on the main floor but you don't see that in any community plans right. That doesn't exist new. I would need to complete for 100 year old buildings for the most part
About the fires .... isn't that caused by Climate Change?
Hi Jon , I need honest advice from honest JON . I have 350000 Dollars looking detached house from Pickering to Oshawa what you think should I wait or buy it my family income is 135000 K.
I'm curious to know how would you fix the unaffordable housing problem in Canada Jon?
incentivize home ownership for endusers by subsidizing land and housing development in municipalities. End users who agree to stay for 5-10 years would get land at cost to build or hire a local builder to build. Similar funds to what's happening now but much more funds focused towards middle class single family homes. I would still incentivize density but it would be proportionate.
it's a good idea, but we all know the government isn't the best people to run efficient business models. This unfortunately would cost way too much tax $$ which would also drive up housing inflation.@@jonflynn
I disagree. Any measure that will increase housing supply will help alleviate the housing crisis
We also need more density as land in urban areas is running out.
But, it was just another announcement with no action. I thought he would be presenting first drafts. And I agree it is insufficient. For example I would have changed the by-laws (height, size, parking requirements) and fire codes (outdated 2 staircase rule) first
"its not what the average canadian wants but its needed" most cannot afford the house nor the land. The average canadian isnt a homeowner nor a landowner, or in fact may be struggling to maintain either, ginding creative (social) avenues. much like in post ww2, even while the american dream was pushed as described in the video, homes were often split into social spaces.
"Why would i work?" Its exactly whats happening again as millenials and Gen Z generations enter the workers space and possible home ownership, both bigger burdens than generations before.
Why would single family homes be encouraged if they are unsustainable, unaffordable and usually further from the work (the entire point of buying the home)?
Hope this made sense as points against the second part of the video
The fires must have been caused by cLIEmate change
haha, yep
haha, the fuel definitely is government policy and spending, the match is from desperate people watching their financial house get abused to the point of desperation. Cannot really blame them lol@@jonflynn
These wartime homes are way too dated and need a lot of updates to meet current building code requirements. Also I thought those homes were mostly detached single family residentials? I thought what we really needed are more well managed condos and rental housing?
They are likely examples of homes and sizes that were built then, 900-1100 sq ft. No, many people do not wish to rent and pay off someone else's property their whole life. Many want their own home.
Massive build out of rental housing will help affordability of SFH. The more stock of everything the better. Students and single people are forced to live in ridiculous scenarios currently, or even young parents who are trying to save for a down payment.
No need to pay architect. Just make it a contest for best design winner will become famous. No need money.
'Accidental' BBQ fires most likely is the case in every instance. Cheers!
Great podcast
Your not afraid to publish stats as is rather than colouring it
🔥 Firesales coming up 😂?
If Liberals believe there is housing crisis,why not put brakes on record levels of immigration?
such a big country.. so much land and resources and no homes..
Words without action are just words
I just hope that "these new tiny homes " will be suitable for seniors.. so they can move there and young families can move into theirs
Thanks for bringing this to my attention. It's important. I do think you're not allowing yourself a long term view. Right off the get-go let me agree with you that this dog and pony pandering is more about politics and less about getting young, working families into homes they can own affordably. I must point out how it is not a complete failure, not only because of the positive social impact. But, also due to the effect more rental spaces in the cities, whether as geared to income and other social welfare type homes which are badly needed (as you correctly point out) or as single dwelling tiny homes will have on relieving pressure from other single dwelling homes converted to make-shift duplexes, rooming houses or short term rentals because the owners can skirt the regulations while making large profits. If 25% of the rental market finds cheaper, better accommodations, then that frees up 25% of places that these people rented. Presumably, a large % will come from off-use single dwelling homes thatvare no longer profitable as rentals because prices crashed... voila the feds have helped encourage affordable home ownership using the wonders of free market capitalism. Is it a fast solution? No! Is it the best solution? No. But it is a contributing solution without Trudeau diving head first into that cesspool of an empty hole otherwise known as federal-provincial relations. Again, I turn to my fave tirade... "Where the f are the provinces?" for this Constitutionaly mandated provincial concern?
Selling the design to developers would bring down the average costs hopefully tho, but yes not like hamilton mountain cute little bungalows we all want. I think this is a positive overall if they push these plans out before a new elections, if true and their only $10 lol but land and government cost to develope need to be discussed fully.
I guess the first fire didn't make it to the arsonists house, so he had to come back the next night to finish it off.
That minister gives me WEF vibes.....
ROFL … “This spiraled downward pretty quickly…” 😂😂😂😂😂
The Canadian people are really loosing out... lol, wartime homes 😂. Their Government is obviously slacking, bigtime!
The national housing crisis will not be solved any time soon, expect for at least a decade or even longer!
8 million units of shoe-box size rentals would cost taxpayers between $2.3 to $2.8 Trillion, a heavy debt load on the burden of at least 6 generations (130 to 150 years) to pay off. Any newborn in Canada will have between $100,000 to $120,000 in debt to start life.
Investing in Real Estate (speculators, house flippers, foreign investors, and Real Estate Casino Dealers) for the purpose of short-selling and profit-taking should be banned in Canada permanently.
"Home is a life's basic necessity" and should never become an "Investment Commodity".