Canadian Politics Thread

[The Arrogant Worms]

 

[The Arrogant Worms]

After subpar growth, Canada's economy will 'hit its stride' in 2025, says Deloitte

https://ca.finance.yahoo.com/news/after-subpar-growth-canadas-economy-will-hit-its-stride-in-2025-says-deloitte-121700886.html

[The Arrogant Worms]

The Office of the Superintendent of Financial Institutions (OSFI) will no longer require banks to apply the mortgage stress test on borrowers who switch lenders if they are simply renewing their loan, the regulator told The Globe and Mail on Wednesday.

The change will make it easier for borrowers with uninsured mortgages to move to a different bank at renewal. It is also expected to motivate banks to offer cheaper mortgage rates in order to retain their current borrowers and attract new customers. The move is set to go into effect Nov. 21, according to OSFI, and will be in place as the federal government relaxes other mortgage policies.

OSFI’s decision to eliminate the stress test on straight switches is occurring as the federal government relaxes other mortgage policies. Buyers will soon be allowed to put down smaller down payments on homes worth more than $1-million, and first-time homebuyers will be allowed to stretch out their mortgage payments over 30 years instead of 25 on an insured mortgage.

[Elias Pettersson]

1 hour ago, Sapper said:

So PP has tabled another non confidence motion less than a day after his last loss

 

If this one fails as well it is an absolute clear statement that the majority of Canada has voted NON Confidence in PP and the official opposition 

 

If PP has even a single shred of honor or respect he Must resign if this second motion fails as well

 

Simply put he and his party would have no credibility in the house or globally left if he stays.

 

He has asked he house in back to back days basically 'me or Him"

 

Let's see if PP is real and sincere or a complete phoney

 

MP’s don’t decide elections.  The people do.  Asking someone who isn’t even the PM to resign because MP’s want him to is a slap in the face to every hard working Canadian that these so called MP’s represent.  MP’s work for the people, not the other way around.

 

Elections have consequences.  If the MP’s in the Liberal, NDP and Bloc parties are so confident in their abilities, then they should call an election now and let the people decide who should govern the country.  

[Bure_Pavel]

3 hours ago, Sapper said:

The one that's most terrifying of PP promises is the return to a single parent worker would be able to afford a home ..... That anyone willing to work would be able to afford a home 

 

That may have been true in 1950 but for that to again be true we would have to have legislated massive wage increases and or a complete collapse of housing prices. The collapse needed would bankrupt over half the country. The economic devastation would be biblical in its consequences 

 

PP is telling people there current pay with a bit less taxes and no carbon tax would then result in a powerful pay thst could afford housing ( own not rent)

 

Current housing would have to fall by a minimum of ,2/3 ... 66% in value for that to occur.

 

That would effectively bankrupt the entire country. 

 

In reality some of his moves may put more coin in your pocket but when you factor in his cuts most will be worse of not better.  Housing will go down in some markets as it should do ..... But we are not going back 70 years to when one average pay can buy a home and have your wife stay home .....      The leave it to Beaver stuff is literally stories of yesterday 

 

For seniors loosing Pharmacare and dental and carbon rebates in exchange for dropping carbon tax ... Is going to be the cause of this nuclear winter PP talks about.

 

You think seniors living in RV's at rest stops is bad now ...... There going to big enough to get town status under PP

Realistically is it harder to build a home now than 70 years ago? It is harder to source materials? Is there a scarcity of land (Canada has one of the lowest population densities in the world)? Its not an impossible task, is just not an easy one and would require hard work. Major investments in infrastructure would be needed and rich people with large real estate portfolios would not be happy if supply increased rapidly. The current housing market is broken and cannot be normalized.  

Edited Thursday at 08:07 PM by Bure_Pavel

[The Arrogant Worms]

Poilievre penalized for not withdrawing comments that set off question period fracas

Speaker asked Poilievre to withdraw comments or risk losing three questions during Thursday's question period

 

https://www.cbc.ca/news/politics/poilivre-penalized-house-of-commons-question-period-1.7335133

[Bob Long]

44 minutes ago, Boudrias said:

Does that mean all the left wing nut jobs are in the NDP? Or do they share?

 

Some are too. Some of the things I've seen about the economy are kooky.

 

 

[Bob Long]

3 minutes ago, The Arrogant Worms said:

Poilievre penalized for not withdrawing comments that set off question period fracas

Speaker asked Poilievre to withdraw comments or risk losing three questions during Thursday's question period

 

https://www.cbc.ca/news/politics/poilivre-penalized-house-of-commons-question-period-1.7335133

 

Just another example of how PP isn't a serious person .

[Sapper]

11 minutes ago, Elias Pettersson said:

 

MP’s don’t decide elections.  The people do.  Asking someone who isn’t even the PM to resign because MP’s want him to is a slap in the face to every hard working Canadian that these so called MP’s represent.  MP’s work for the people, not the other way around.

 

Elections have consequences.  If the MP’s in the Liberal, NDP and Bloc parties are so confident in their abilities, then they should call an election now and let the people decide who should govern the country.  

And then we would be in election mode every 90 days forever 

 

Completely unworkable and would end Canada 

 

Our current political system is we have set elections and between elections the lead party or parties lead the country.  Once the opposition tabled a motion to end that and lost .. bringing the same thing back within hours really does mean they do NOT support our democracy.

The only solution to this is to move to proportional representation and do away with motions of non confidence. Force the parties to always reach consensus or if they fail to pass the budget after 3 attempts then go to an election

 

This suggestion that at the call of any party we should dissolve parliament would leave us unable to ever govern 

 

And slap in the face ? Seriously you only missed woke  . Woke or lefty for the trifecta slur cons use 

 

PP should resign if he loses the second vote that close together. It does mean the house has no confidence in him as opposition leader.  Really truduea is so bad that if the cons had litterly nearly anyone else with no past Harper ties .... They would have succeeded by now

 

It's PP that's the problem.

 

The hatred of PP is propping up Trudeau which means PP is putting himself before any if those hard working Canadians you talk about

And for the record NDP , liberal , bloc , green and yes even the cons have hard working Canadians as supporters and all deserve the same ... Not just con voters 

 

Edited Thursday at 08:21 PM by Sapper

[Elias Pettersson]

2 hours ago, Sapper said:

Your so completely brainwashed you only regurgitate the cons propaganda lines .... 

 

Take all politics out of this ... Take all propaganda out this.   Look at only facts and math ... Math never lies 

 

Current average wage is 54k per year in BC ( stats can )

 

If PP is able to drop your tax burden from the current 18k on wages and your take home goes from 36 k in pocket to 40k in pocket ( that would take a big tax cut but let's say he pulls it off )

 

An average worker then might see $3333 per month take home

 

In order to not get into money trouble the MAX and I mean your going to be cutting your budget to the bone .... You should use for housing costs is 40 %>

 

That means the max monthly mortgage they could pay is $1333.

 

Based on 5% down that means a maximum mortgage overall in the 100 to 125k after downpayment.

 

Simple math does not lie.

 

That wouldn't even get you a 30 year old mobile home in BC let alone something strata or freehold to own. The drop in housing costs would have to historic to get even a single bedroom apartment at that cost 

 

To be fair all the politicians lie especially come election time.

 

But I hate to be the one that showed you that you have been fooled .... But the math doest lie

Go ahead and support any party you like. But calling it fear mongering when someone gets the old calculator out and says the math doesn't add up .... Really does mean your running with your party line without checking facts .... And dropping lefty names sprinkled with dropping the words fear and or woke.

 

I do the same for other parties promises too ( the math )

 

Always do the math and  ask what they will cut to pay for it. Or in this specific case I'd ask PP what is exact plan to devalue property that step is and what steps if any he is planning to assist those that would be foreclosed on by banks when they find their homes devalued so bad that it's best to just walk away and let the bank have them

 

But let's leave math here and talk politics now - PP isn't going to destroy our economy by actually doing what he is promising and you should know that. He may in fact have other ideas on balancing housing cost and supports .... That's what he should be sharing and not this fantasy based dream that has no possible chance of being done.  

 

 

 

Let's use my first house purchase as an example as I was an average income earner 

 

1998 bought a house for 130k. My yearly income was 40k.  That means the house cost was equal to 3.25 years of my total income.

 

Today that same job pays 60,k per year and the house would sell at 800k

 

To go back to that affordability one of 2 things would have to happen

 

First would be housing costs. To again have that house equal to 3.25 years total income value the house could only top out at 195k. That means it must be devalued some how by 605k ( that's a 75% drop in value )

 

OR it could be wages that  change.  To again age 3.25 years total income pay for it I would need to earn $246k per year in that same job

 

The math simply doesn't add up and neither will happen 

 

Take home pay could go up a bit and the value may go down a bit but in any case ..PP knows he is selling a unicorn dream

 

 

Seems like you are the one who is brainwashed if you think we have to go back to the 1950’s in order to be able to afford a home in Canada with one income.  People had no problems buying a home with a single income in Canada even 10 years ago before Trudeau was the Prime Minister. 

 

Do you know how much vacant land there is out there?  Without dealing with the bullshit from the municipalities, do you know how long it takes to actually build a home?  Like 6 months?  The problem with affordability is supply.  And government red tape.  That’s it.  Trudeau has done nothing to fix those two items, simple as that.  And if you tell me it’s all about the municipalities that control these things then you are wrong.  The Federal government has the power to increase supply as well as cut red tape through legislation.  Legislation that Trudeau hasn’t bothered to enact in 10 years.  He cares more about bringing in migrants than he does actually helping Canadians.  That’s why even generation z is telling him to fuck off.

 

If you increase supply in the suburbs and even the rural areas you don’t have to have a 66% drop in prices which would cause a massive depression.  People don’t need to live in the city any more, lots of people work from home.  You can build thousands of new condos and other homes at affordable prices in the suburbs without “tanking” the market.  Nobody ever said we need to “tank” the market.

 

You could get homes down to $700-800k in places like Langley and Maple Ridge, and out to Abbotsford. Condos down to $400-500k.  Those are easily affordable if rates are 3% and you are making $60k per year with a decent downpayment.  The reason a lot of people can’t qualify for a mortgage right now is because of the stress tests that were introduced by Trudeau’s federal government in 2016.  If you eliminate those stress tests it becomes 1000x times easier to qualify for a mortgage, even at today’s prices. 

 

Nobody ever said that a single payer should be able to afford a 3000sf view property in East Vancouver on 60k per year.  Of course that is never going to happen.  However, with the right polices and with some aggressive legislation, we can at least see some hope in getting more supply out into the cheaper suburb areas and to hopefully cut all the red tape so we can cut the time it takes to build a home from 2 years to 4-6 months.

[Sapper]

17 minutes ago, Bure_Pavel said:

Realistically is it harder to build a home now than 70 years ago? It is harder to source materials? Is there a scarcity of land (Canada has one of the lowest population densities in the world)? Its not an impossible task, is just not an easy one and would require hard work. Major investments in infrastructure would be needed and rich people with large real estate portfolios would not be happy if supply increased rapidly. The current housing market is broken and cannot be normalized.  

Exactly ..... Steps can be taken to improve the overall situation but it's not possible to just reset the housing market back to the way it was

[Elias Pettersson]

17 minutes ago, Sapper said:

And then we would be in election mode every 90 days forever 

 

Completely unworkable and would end Canada 

 

Our current political system is we have set elections and between elections the lead party or parties lead the country.  Once the opposition tabled a motion to end that and lost .. bringing the same thing back within hours really does mean they do NOT support our democracy.

The only solution to this is to move to proportional representation and do away with motions of non confidence. Force the parties to always reach consensus or if they fail to pass the budget after 3 attempts then go to an election

 

This suggestion that at the call of any party we should dissolve parliament would leave us unable to ever govern 

 

And slap in the face ? Seriously you only missed woke  . Woke or lefty for the trifecta slur cons use 

 

PP should resign if he loses the second vote that close together. It does mean the house has no confidence in him as opposition leader.  Really truduea is so bad that if the cons had litterly nearly anyone else with no past Harper ties .... They would have succeeded by now

 

It's PP that's the problem.

 

The hatred of PP is propping up Trudeau which means PP is putting himself before any if those hard working Canadians you talk about

And for the record NDP , liberal , bloc , green and yes even the cons have hard working Canadians as supporters and all deserve the same ... Not just con voters 

 

 

Trudeau decided to call an election literally during a pandemic.  Why?  Because it was beneficial to him.  He knew he wouldn’t lose at that time and thought he could squeak out a majority.  $600 million later and nothing changed.  PP is now trying to do the same thing.  He knows he can get a majority now so he’s trying to get an election called.

 

What Trudeau did in 2021 is exactly the same opportunistic situation that PP is doing right now.  So no, PP isn’t the problem right now.  Trudeau is the problem.  Nobody other than OP and a few others want him around.  So why doesn’t he just fuck off and leave and let someone else run the country? 

 

And no PP doesn’t need to resign because you want him to.  The people will decide who runs the country, not you or any MP…

Edited Thursday at 08:33 PM by Elias Pettersson

[The Arrogant Worms]

11 minutes ago, Elias Pettersson said:

 

 People had no problems buying a home with a single income in Canada even 10 years ago before Trudeau was the Prime Minister. 

 

Maybe in your dinner party social circles.

 

Not in the rest of Canada.

[Sapper]

2 minutes ago, Elias Pettersson said:

 

Seems like you are the one who is brainwashed if you think we have to go back to the 1950’s in order to be able to afford a home in Canada with one income.  People had no problems buying a home with a single income in Canada even 10 years ago before Trudeau was the Prime Minister. 

 

Do you know how much vacant land there is out there?  Without dealing with the bullshit from the municipalities, do you know how long it takes to actually build a home?  Like 6 months?  The problem with affordability is supply.  And government red tape.  That’s it.  Trudeau has done nothing to fix those two items, simple as that.  And if you tell me it’s all about the municipalities that control these things then you are wrong.  The Federal government has the power to increase supply as well as cut red tape through legislation.  Legislation that Trudeau hasn’t bothered to enact in 10 years.  He cares more about bringing in migrants than he does actually helping Canadians.  That’s why even generation z is telling him to fuck off.

 

If you increase supply in the suburbs and even the rural areas you don’t have to have a 66% drop in prices which would cause a massive depression.  People don’t need to live in the city any more, lots of people work from home.  You can build thousands of new condos and other homes at affordable prices in the suburbs without “tanking” the market.  Nobody ever said we need to “tank” the market.

 

You could get homes down to $700-800k in places like Langley and Maple Ridge, and out to Abbotsford. Condos down to $400-500k.  Those are easily affordable if rates are 3% and you are making $60k per year with a decent downpayment.  The reason a lot of people can’t qualify for a mortgage right now is because of the stress tests that were introduced by Trudeau’s federal government in 2016.  If you eliminate those stress tests it becomes 1000x times easier to qualify for a mortgage, even at today’s prices. 

 

Nobody ever said that a single payer should be able to afford a 3000sf view property in East Vancouver on 60k per year.  Of course that is never going to happen.  However, with the right polices and with some aggressive legislation, we can at least see some hope in getting more supply out into the cheaper suburb areas and to hopefully cut all the red tape so we can cut the time it takes to build a home from 2 years to 4-6 months.

It's kinda outstanding how deep you have bought into the lies

 

First . . . Unless you find a way to get suppliers to provide building materials at steep ( I mean like 75%) off , a way to get trades to work for near minimum wage ... The cost to build a home isn't going down. The land could but few if any single lots every come to sale when new land is offered. It's ALWAYS builders terms conditions so savings on land is their profit not yours 

 

The mortgage payment on a 750K house at 4 % over 30 years with mortgage insurance would be $3800 a month

 

That means you need a take home pay of $8360 to even qualify

 

That's a take home after taxes pay if 100k.per year so a minimum of approx $72 per.hour family wages .... Again just to qualify 

 

The condo you refer to would be half of that but add in strata

 

A new 500 k strata home still needs over $50 per hour family income to just qualify 

 

A decent downpayment to make it affordable is in the hundreds of thousands of dollars.  No one making the average wages could do that in time to buy a house and as more and more seniors have to sell and live off their house value to retire less is going to inheritances

 

Look we can argue and debate a parties policies as good or bad ... Affordable or too costly.

 

But in housing your argument is so full of holes that it doesn't hold any water

Again the math doesn't lie

 

We are talking about working Canadians at or just above the average wages and not young adults who's parents gan gift them hundreds of thousands of dollars in downpayment money so they can get affordable mortgages 

[Elias Pettersson]

3 minutes ago, The Arrogant Worms said:

Maybe in your dinner party social circles.

 

Not in the rest of Canada.

 

10 years ago you could buy a condo in downtown Vancouver for under $500k.  Easily doable for a single income if you had a reasonable down payment.  Back then we didn’t have the mortgage stress test that was legislated under the Trudeau government. 

[Sapper]

10 minutes ago, Elias Pettersson said:

 

Trudeau decided to call an election literally during a pandemic.  Why?  Because it was beneficial to him.  He knew he wouldn’t lose at that time and thought he could squeak out a majority.  $600 million later and nothing changed.  PP is now trying to do the same thing.  He knows he can get a majority now so he’s trying to get an election called.

 

What Trudeau did in 2021 is exactly the same opportunistic situation that PP is doing right now.  So no, PP isn’t the problem right now.  Trudeau is the problem.  Nobody other than OP and a few others want him around.  So why doesn’t he just fuck off and leave and let someone else run the country? 

 

And no PP doesn’t need to resign because you want him to.  The people will decide who runs the country, not you or any MP…

Trudeau was wrong to call an early election and should have been held to account 

 

2 wrongs don't make a right and if PP's defence is "he did it first" .... He's not fit to govern.that makes him exactly the same as Trudeau 

[Sapper]

1 minute ago, Elias Pettersson said:

 

10 years ago you could buy a condo in downtown Vancouver for under $500k.  Easily doable for a single income if you had a reasonable down payment.  Back then we didn’t have the mortgage stress test that was legislated under the Trudeau government. 

 

 

The mortgage stress test was a result of the major collapse of the US housing market with sub prime loans and the lack of any other date guards in place 

 

We don't need a nation of Trumps manipulating the bankruptcy laws to buy buy buy then dump the losses on banks who in turn pass it on us 

 

And again it's average income earners ..... Not the top tier with early inheritances for downpayments 

[Alflives]

3 minutes ago, Elias Pettersson said:

 

10 years ago you could buy a condo in downtown Vancouver for under $500k.  Easily doable for a single income if you had a reasonable down payment.  Back then we didn’t have the mortgage stress test that was legislated under the Trudeau government. 

Is it because of Trudeau (by your logic) that houses are very affordable in the vast majority of Canada? Or is it only his responsibility for high housing costs in Vancouver? 
 

[Bure_Pavel]

26 minutes ago, Sapper said:

Exactly ..... Steps can be taken to improve the overall situation but it's not possible to just reset the housing market back to the way it was

If the government can make significant investments and cut red tap into increasing housing supply while reducing the demand for new housing especially though reduced immigration. It is possible to cool off the housing market and see a reduction in the sale price of homes. The ratio of wages to home prices needs to drop, and we cants just keep raising wages as everything shift with it and nothing improves.

[Bob Long]

3 minutes ago, Bure_Pavel said:

If the government can make significant investments and cut red tap into increasing housing supply while reducing the demand for new housing especially though reduced immigration. It is possible to cool off the housing market and see a reduction in the sale price of homes. The ratio of wages to home prices needs to drop, and we cants just keep raising wages as everything shift with it and nothing improves.

 

What do you mean by red tape?

[Bure_Pavel]

2 minutes ago, Bob Long said:

 

What do you mean by red tape?

https://financialpost.com/real-estate/trudeau-housing-push-productivity-red-tape-study

[Sapper]

2 minutes ago, Bure_Pavel said:

If the government can make significant investments and cut red tap into increasing housing supply while reducing the demand for new housing especially though reduced immigration. It is possible to cool off the housing market and see a reduction in the sale price of homes. The ratio of wages to home prices needs to drop, and we cants just keep raising wages as everything shift with it and nothing improves.

I wish government would put workers first and not developers always at the top

 

What I would like to see in every community is a chunk of suitable land made into a designed modular home community with freehold lots. 

 

New modular homes run 200 to 300k. Lots subsidized at 200k would bring the cost of new home freehold ownership at 400 to 500 k with zero strata or pad fees and eligible for normal mortgages which regular mobiles are not

 

That on a 30 year term would be in reach now not 10 years from now

 

Imagine workers having a small piece of land and owning it ... Their own gardens and building their own equity instead of making landlords rich 

 

Just as an FYI .... This is used all over the USA

 

In Canada we don't permit land use in cities that doesn't enrich developers and that's a big part of the he problem 

We are missing the entry level ownership on freehold. There is no progression in costs available

 

This lack of options means strata places have soared in cost as the only option. Add in strata and few condos outside of Vancouver are better investments over owned land 

 

 

[Johngould21]

36 minutes ago, The Arrogant Worms said:

Maybe in your dinner party social circles.

 

Not in the rest of Canada.

I'd love to be a fly on the wall of those.

[Elias Pettersson]

5 minutes ago, Bob Long said:

 

What do you mean by red tape?

 

Red tape is the municipal costs associated with building a home as well as the time it takes to get permits, inspections and other things from the city that prolong the timeframe to build a home.  Roughly speaking, it takes upwards of 8 years to build a hi rise from start to finish, i.e. buying the land to the finished product.  This is because of "red tape".  Also, the city's cut is close to 30% in some cases, whereby in turn the developer adds that cost to the price of the home.  City costs alone account for almost 30% of the cost of a condo in Vancouver.

 

As for building non strata, you are looking at one year simply to get a building permit, in some cases maybe longer.  Another year or more to build the home.  Red tape would also include all of the city costs that go into building a home.  My buddy is a builder.  New construction now requires Hydro lines to be underground and the builder has to pay for it.  That's an added cost to the project of $60k that is passed on to the buyer.  2x8 construction is now needed in Vancouver and Richmond, which adds to the cost, insulation, heating systems, hvac, plumbing, electrical.  Look at the new step codes in the BC net zero building codes introduced last year.  Here is the article that explains it.

 

Guide to Net Zero Homes in BC, Canada | Bercum Builders

[Bure_Pavel]

Yeah there are solutions out there. Given Canada's vast land mass, plus access to lumber and skilled workers, owning a family home in your lifetime should not be a pipe dream for those not expecting a wealth transfer from mommy/daddy.