Trudeau EXPOSED: Lying about Fixing the Housing Crisis!
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- Опубликовано: 27 авг 2024
- In a recent podcast from The Globe and Mail newspaper Justin Trudeau was quoted saying "housing needs to retain its value" while trying to pander to the majority of homeowners in Canada while at the same time promising to build affordable homes that middle class young Canadians can afford to buy. He's lying to someone and I'm calling him out for his political nonsense. #realestate #trudeau #canadahousing #affordablehomes #interestrates #mortgagerates #canadianpolitics #news #realestateinvesting
links/references:
www.theglobean...
tnc.news/2020/...
In Canada, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
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I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
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They wonder why GDP numbers are down? What incentive do young people have to work hard when all it will get them is renting a $2000 basement suite here.
For young people, the path to home ownership takes them outside the country.
RIP Canada, you deserved better.
Only BC and Ontario are expensive. Rest of Canada is very affordable
@@Observer168 very affordable = potentially attainable
True. Which begs the question, who will buy the homes for sale here in Canada?
"Oh there's still a lot more to do..." Please don't Trudeau. Don't do any more.
Every week is some new horrifying policy that breaks my heart. Please just stop
The worst con man Canada ever produced
Thank you for not playing Justin's voice.
That's the most narcissistic thing i've ever heard Trudeau say. When confronted on his miserable polling numbers: "I'm running again". That's proof to me Peter Pan is a straight up narcissist. Good god. Worst. PM. Ever.
If a narc cannot get good attention they will go after the bad attention. Just as long as it is attention despite the outcome for their victims.
He's pushing young and old into more debt rather than fix anything.
the only thing he is fixing his own retirement assets at the cost of the younger generations.
We gotta get investors out of real estate. Period.
Higher interest rates will fix that. You could see all of this coming twenty years ago when rates were falling abnormally low. This put us in a corner that was damaging no matter the direction you chose to to exit. Free money , as we discovered, is not free.
You can see articles stating that foreign investment dollars are fleeing out of the country. Billions just in Q1 of 2024. They pump and dumped our housing market and now we’re stuck with Canadians as forever renters. It’s just criminal. As though the gov’t didn’t know. 2015/2016 was insane for foreign investment and they did nothing.
*Speculators. Long term investors are not bad and they provide rental units for people who can't afford to buy.
We need to get foreigners out of our real estate
The only or majority of investors we should have in real estate are those building. Not people who are cheating the system by abusing those who are desperate or struggling. Slum lords and inhumane, psychopathic types.
Turdeau couldn't build an Ikea bookcase.
Thanks ,for not playing clips of JT.
Trudeau is awful.
This is exactly why independent journalists, and channels like this are so important. People don’t even get half of the truth from major outlets, they end up under-informed and polarized as a result of faulty information.
Thanks for not playing the clips. I like watching videos on the topic, but his voice seriously grates on me.
Britain is reducing migration to 300k a year. By that logic Canada should go from 2 million a year to 120-140k a year 😮
Britian is about to be taken over by Islam. They may find themselves in a civil war, very soon
Reducing to 300k means nothing when you have open borders
Look at the new restrictions for work permits for graduated students and at the recent CEC draw.
So, it looks like we reduce it too...
@@DrMarkyMark That's correct, that also confuses brand new PRs who are getting indoctrinated by Liberal party !
Trudope talks to the public as though he's in a classroom with little kids ...he's so arrogant...talks down to everyone....opens his mouth and says nothing...zero! Such a puppet!
FJT
Beat me to it!
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For a feminist, he sure is frequently contemptuous towards women.
This guy needs to be in jail.
Spoiler - the courts are in Klaus's pocket.
Trudeau: "We need affordable housing" Also Trudeau: "We need housing to retain is it's value".
Utter insanity
No wonder folk find it necessary or irresistible to use houses and condos as an investment vehicle. Us boomers are in part to blame because of our indifference to policies and practices that we knew would be detrimental to future generations. Things like real estate agents shadow flipping and developers engaging in speculation and the corruption of spot zoning over the years to name a few.
Also we were warned in the 90s about how the policies of supply side economics and its BS trickle down effect would inevitable devalue the earnings of our kids and relatively stagnate wages not to mention the younger generations would be squeezed out of housing if we didn’t address and curb those polices.
Nowadays, real estate developers and the real estate industry are one of the biggest obstacles to creating the supply needed. They are one of the biggest lobbyists in Canada and have great influence on government polices regarding regulating the industry to how cities are zoned and how many are actively rigged to prevent new supply where needed the most.
The fella is a scammer.
well said. he is a crook. he and his ndp partner only doing politics.
I have huge respect for you, Jon! Thank you for seeing thru the b*lsh*t and calling it out.
Thank you also for not making us listen to the interview.
Thanks again Jon. Justin Trudeau is a terrible leader. I can’t believe we as a country and over turn and throw him out!
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who witnessed the 2008 financial crisis can expect to generate a large wage.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
@@LeahLewis-ny9iu My CFA, Desiree Ruth Hoffman, is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@@AshleyKeith-vw7ws Thank you for this tip. I must say, Desiree appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
What a mess.
I came to Canada in 2019 when I get my PR... I remember the plane starting its descent to YYZ and seeing SO MANY HOUSES relative to high-rises/condo buildings. Coming from Eastern Europe, I felt a bit strange seeing it all from above, as we have dull gray buildings surrounding us anywhere we go. And where these buildings stop, it's usually some empty plot of land outside the city.
As I got more acquainted with Canada housing, and specifically the pricing crisis we find ourselves in now, I came to realize that this is "by design". Here's the "design":
- People want to own single-family homes as the only way to "raise kids right".
- Getting those kids into good schools early on depends on where you live.
- People pour all the money they make into maxing out the mortgage they can take.
- People refuse to allow changes to zoning that would allow denser housing (I'm thinking here at proper 10-20 floor condo buildings, I doubt the "missing middle" is a problem solver when your entry level condo costs 700k in Toronto).
- Local governments are afraid to force changes (presuming that's even possible), as they'd lose the voters.
- Federal government isn't in charge of this... but somehow that doesn't stop a prime minister to run two times in a row with a pledge to fix this issue if elected.
So all in all, this is a struggle between those that have housing, and those that don't. And those that have it poured their entire life into it... and those that don't can't reach the starting line for that race to pour it all into housing.
I honestly don't understand this fetishization of SFH. Why would you want to drive 1h+ on the highway each day to work, sit in traffic, risk an accident just so you can build your "nest egg" of a house. The maple flavored American Dream is stretched to the limits, and if you blame government alone for it, you're either conveniently ignoring the home old-time owners that made it this way, or the new homeowners that don't ever want to see their house value dip.
Building European or Chinese style dense housing in the cities would crash the entire housing Ponzi scheme. It's why they will not do it here cause Canada no longer has anything to prop the economy up other then housing.
You hit the nail right on the head.
AKA: your pensions will not pay the bills
The man has become insane and is going scorched earth before he leaves.
How is Trudeau going to ensure that those who retire can sell their home? Who will they sell to?
@@user-vy5fx4hk6h why would they come only to Canada? There are lots of safe, pretty places
@@dapsolita US is too volatile and Europe is at war. Canada is actually pretty gentle compared to other countries in the Western world
He is very political, he talks out of both sides of his mouth and if he runs I see lots of humble pie on his future dinner plate.
We must vote him out
Don't fret, his days are numbered, but the housing crisis has been in the making for decades and will take decades to fix, if not more.
@@rps1689 I agree with you.
Trudy did an interview with RUclips channel Plain Bagel.
His plan is to raise taxes, bring in more imagrants, and give himself a 100k raise
Those who vote Liberal and those that don't vote at all: YOU DID THIS.
He called an election while he was giving everyone 2k a month. Of course they will vote for him.
At least we can smoke legal weed while illegally living under a bridge.
So we don't live in a free market? If housing is in a bubble is Trudeau going support the bubble? WTF
Every economic system has a cost to society even a so called "free market" one, as those that succeed in them control most of the resources. No economic system is escapable from some type of authority be it government or those that control the resources, which is why no free market economy exists; not even in Singapore, US, Switzerland, and New Zealand to name a few..
I appreciate you not playing audio of his voice I would have hit stop, no offence. It's beyond grating at this point.
Thank you Mr. Flynn for educating us on real estate. Thank you also for sparing us from hearing the national idiot speak. Kind regards.
Justin has always spoken and continues to speak in a condescending manner, It's the drama teacher in him......You explained the interview very well.
Jon, you are a natural with these videos. Your detail & content is much appreciated. Sad state of affairs real estate has become so political & corrupt with so many strings attached to funding. Canadians are struggling especially those trying desperately to afford a home. Not an accident so many Canadians are leaving.
If ever Tony Baldinelli MP decides to retire, I have suggest Jon Flynn for Conservative MP for Niagara Falls! You would be the housing minister of our dreams.
Thanks, I doubt I'd pass the background check though lol
The market will correct itself.
Wait for it,,,,,,
Absolutely
I dont know how this government can legally still be able to stand
He has broken every mandate since 2015,,,,well, except weed. 😂😂😂😂
This government should be forced out.
Weed was a stock pump and dump... ripped off billions... Justin's buds. Stock frauders
Get rid of JT and thể liberal.
I’ve been paying attention to the housing market and economy in Canada since prices rocketed during the pandemic. I find all the data and contradicting news/ mainstream data puts me in a place of not knowing what to do. Im in my young thirties with a partner, we both have two good jobs, a bit of a nest egg in savings. We would love to buy a home, but I can’t help but be cautious. My fear is putting that nest egg into down payment and within the next few years witnessing our equity deflate due to a correction of some sort… it kind of just has me trying to convince my partner to bide our time while I watch and see how things unravel. But of course, this government is doing everything they can to keep prices high which is incredibly frustrating and makes you worry that we may see another decade or so of increasing house prices… I wish I had a crystal ball.
Trudeau Lied!!!! What a surprise!!!??
"Housing needs to retain it's value" Justin Trudeau
So in other words, when the government talks about affordable housing projects, it's speaking about making them affordable for the government to get in on building or having them built, so that they can create permanent renters out of the general population, and keep ownership out of reach for the mid middle class, while keeping asset prices up, and wealthy voters happy?
Seems like the plan doesn't it.
Thank you for this great video Jon.
I have no expectations from our Canadian politicians.
The plan is simple: affordable house with retaining its value by depreciating loonie. Canadien Peso coming to home. 2025 1 usd=2 cad
Trudeau has to go! Great breakdown of that interview.
Housing is and should be a necessity for shelter purposes only for everyone and anyone living in Canada. People should be able to purchase a House according to their affordability and at a reasonable price like it used to be 10 years ago. When did housing become a source of gambling, speculation, investment and /or a savings or a retirement plan ? If house prices continue at such high rates, we will have a huge amount of inequality and Monetary gap amongst Canadians. We need to Stop comparing ourselves with Rich cities like New York and Dubai am go back to basics !
Housing crisis was in the making for 4 decades. The devaluation of earnings gradually have caused housing to be more of a commodity than that of a home and made it pretty much a must to own a property in order to make up for the devaluation of the average worker's earnings; this is one of the side effects of Reaganomics-esque-like economics where government incentivizes investment to extremes while punishing salaried and hourly workers, but of course not those on the executive payroll. After all it was the economic conservative element on both sides of the political spectrum here and south of the border that supported policies over the decades that made investing in real estate more enticing than that of more important things for the betterment of the nation and its economy. And to “divert” folk from noticing this, governments on both sides created more favourable tax treatment for capital gains and went to great lengths incentivizing investment more and more over the decades in hundreds of ways to the point of giving those gains a lower rate than personal income.
New York “rich”😂😂😂😂😂
Interest rates are at historic lows, Glenn!
Yah I think we should have higher interest rates if anything. This is ridiculous.
JT inherited all of his wealth.
Great coverage, John! Thank you for all of your good work.
I said many months ago that prices will not crash. We already had a correction and called the cut and I said in 2025 prices will tick up. I’m undefeated and John is winless. I bet a shit ton of his followers couple weeks ago about a cut and the basement dwellers went quiet.
Jon and his followers don't got the cash to bet with you.
The biggest barrier is Monopoly player greed from around the world. All are hoping for a greater fool to continue the insanity bubble. All we need is something that discourages this, like a tax that increases with greed.
The guy just makes working not worth it, of course it's unaffordable
The logic of a Trust Fund Baby. Magic will save us all! 😃
Thanks for not playing the whole video. He will never answer for anything of corruption or cost or out right thief of tax payer money.
His comments about houses must retain their value for retirement funds brings to mind Victorian days of land owner vs non landowner and the poverty of the latter. This has to be his most stupid interview ever where he proves he has no idea which voters to pander to for votes. I'd guess that he's decided to throw the generational fairness younger group under the bus considering his budget didn't gain him any increase in popularity. But hey, he could 180 again any minute.
Problem is about 2/3 of Canadians own their home so the governments are more interested in satisfying them than those that can’t afford one. The government knows too many are counting on using their homes more as a vehicle for investment than a home to use as a future nest egg because of the speculative market out there and if the government does anything to keep their homes from appreciating, they know there will be a price to pay politically.
Inflation is where civilization goes to die.
In order for Justin Castro to keep his promise he’s going to have to build 300,000 homes this year and 300,000 next year and this is on top of all the homes that have already been scheduled to be built
Here’s the plan, Canadians rent off foreign investors and stop paying there rent immediately. We as Canadians can fix this . Take back our country!
That's the real question: define "affordable homes". Does that mean a one bedroom rental in a fourplex? By Trudeau's definition it could be that.
Thank you for saving us from his voice 😅
just wanna say great video and thank you for saying what hopfully everone was thinking i know i was but dummy's will keep over paying
He doesn't have plan for anything. Leave alone housing. The best used car salesman Canada has ever produced.
This will be a lost decade.
Looking more like a lost century
In every socilist country they have the same problem
We ate the future to feed the past. Maybe he knows the young will be sacrificed in conscription too.
hopeless first time home buyer here but the way i understood this particular interview was that there must be some level of value retained rather than a total collapse in RE... Jon, talk to your fellow boomers because when i go to an open house in the GTA, I'm not competing with FTHBs, I'm competing with your generation. As upset as I am with the state of things, the housing crisis is also a provincial government issue. No point in only blaming JT, it's not constructive. Throw some heat at Ford too because they're all responsible.
Actually you're competing with foreign money.
Well Yha, anticipating a substantial decline in prices is not seeing things through. There is no political incentive for a housing decline. The focus should be bringing down construction costs, and looking into building alternatives like modular housing.
Why is no one talking about the 30 billion of our tax dollars being used to buy crappy mortgages and propping up the housing ponzi scheme. He proved to all of us that he doesn't want the market to correct itself. As I'm sure lots of pensions are invested in property portfolios.
Thank-you for sparing us from hearing his voice. I just can't listen to it anymore.
Housing prices in Canada's it's ridiculous expensive . their is so much land in Canada and yet houses prices have been going up and up and up and the government of Canada doesn't have a plan to fix housing affordability.no wonder immigrants are leaving Canada to expensive here.
You’re absolutely right but the problem is everyone wants to live in Vancouver and Toronto. Calgary, Edmonton, Montreal etc.. are more affordable but people think they are too good to live there.
Hey Jon, small family of 3 here, is now the wrong time to buy? What do you think?
I forecast home buying opportunities starting at the end of this year into 2025 sometime and will continue for 2-3 years
@jonflynn thankyou! We just began our search so that works for me
I disagree with Jon regarding the feds not funding Windsor. We need lots of housing and 4 plexes are an efficient use of land. Great cities, Chicago, NY, Paris, London all have mid - rise housing. Whether rental, condo, or home ownership they are a proven model. Look at major streets in Toronto like Bathurst, Dufferin, Pape, Ossington, etc. All built with single family dwellings, is a colossal waist of space. It’s even worse in the gta suburbs. New developments require all of the utilities, sewage, roads, etc, as well schools, community centres, etc. All of those assets already exist in older denser neighbourhoods. I agree with the feds insistence that money used to build new housing be built as quickly and economically as possible. Mid rise buildings can also be quite beautiful as well as efficient.
If I never hear his voice again... I'll go happy
Thank you for summarizing Trudeau so I don't have to listen to him.
Both sides are corrupt. That's the game. Divide and conquer
That is true. It is not about which side is better but which side is less bad.
Excellent video, Jon. So many people just don't see it. In my city (Fredericton), city council is doing their best to eliminate citizens' input on these multi-unit housing proposals. It's like we fight and fight.....and it just doesn't matter 🤬 Thank you for the information, Jon 🙏 Keep up the great work!
Only way is price cut 35%-50%, that will be another disaster.
More trailer parks HAHAHA For real tho, I'd rather own a double wide trailer and pay lot fees at this point.
Also it's funny how a housing bubble destroys itself, but people being unable to get into the bottom of the ponzi
How many billions did budget 2024 cost Canadians? It has already expired without any effort to deliver. Trudeau said that he often thinks about quitting because his job is crazy busy and super boring. LIke college buddies who are stealing from their parents liquor cabinet they tell us that they are studying.
Hopefully Trudeau follows in his fathers footsteps and resigns soon.
I agree, but he's a narcissist and will need to by pushed out kicking and screaming. When house prices drop and we enter a recession what's left of his voter base will turn on him. It's already started.
He will not last next election for sure, only question is will Poilievre follow this same path or will he fix these issues. I really hope he doesn’t pander to the boomers anymore, if he fixes this he will have multiple whole generations of voters supporting him for the years to come
He'll put together a save face plan. Probably promote Freeland for 6 months.
@@TheDarkd3ath Keep in mind Poilievere has no issue with supply side economics and the policies that stemmed from it, which created most of the problems he complains about like that of the housing crisis and price gouging collectively disguised as inflation.
@@jonflynnhow much lower do you think prices will go in GTA?
The only way I can think of making housing high and affordable is if you make like 40 year mortgages. Essentially a wealth transfer from the young to the old
I'm no fan of Trudeau but Pierre Polievre would also cater to the existing homeowners/retirees. They are both on the side of money.
To think otherwise would be folly.
We actually don’t want to listen to his voice
I’ve blocked all politicians from my ears and eyesight
This is so obvious they are priming building and city planning to create 15 minute cities. Many planned new builds in my city are “car free”developments. It’s so incredibly obvious if you look for it.
Thanks I can’t handle his voice.
So much for the invisible hand
Really appreciate your insights and your channel, thank you! This was a really good episode.
I will answer the question
there "plan" is to create smaller homes for new to the housing market while retaining the larger detached homes that current home owners are in there by maintaining value while making homes more affordable
a 900 square 2 bedroom suite in a block of 4 in the suburbs WILL be "cheap" while not impacting the 2000 square 3 bed plus basement few doors over
that is why "density" is required"
Hes trying to hold on to the retirees vote lol
Unemployment is starting to kick in now. This is a cycle that has happened for the past 100 years and this one won't end any different. House prices will fall and the equilibrium will return. I expect this will take at least the next 5 years to happen. The next year or two will see many people realize their budgeting skills are non existent.
🎥 🍿 All play role. Agree w/more investments and improving public trans (as a better option then now not in place of cars.) Where did they do this?
I disagree. JT has a good plan that works perfectly as he wishes over the years.
maintain value so he can grab more taxes now from seniors that had equity in their retirement/estate plan
I dislike Trudeau as much as the next guy, but I don't think these are lies. You can have affordable homes and non-entry level homes retain or grow in value. Demand via population growth is the problem.
Serious question: what do we actually expect the federal government to do, regardless of which party is in power? Since the end of the last World War, our economy has been structured around pooling massive amounts of capital to inject into massive and standardized single-family detached home subdivisions and condo buildings because mortgages for those units fit into a nice box that's easy to price, easy to evaluate risk by our giant oligopoly of banks, and in no insignificant part backed by the CMHC (and apparently the federal government now with its massive purchases of mortgage-backed securities). Who stands to gain from higher home prices? Federal, provincial and municipal governments, banks, insurance companies, real estate agents, investors, developers, etc. Who stands to gain from lower house prices? Renters and the homeless. Easy to see how we've got ourselves stuck in a Catch-22.
Don Stewart for St Paul's!
Jon, everything that comes out of Justin's mouth is BS😂
Trudeau FINALLY said something smart. Yes, housing MUST retain value. People need to retire on that home value. Younger generations still have a lifetime to work and make more money.