"Impossibly unaffordable": Housing report crowns Vancouver 3rd most expensive city in the world

@changgiljang4660 3 ай бұрын

My landlord is Chinese owing five houses in Toronto, yet he lives in China 😂😂😂

@nonasmith2405 3 ай бұрын

Should not be allowed

@scottmiller8617 3 ай бұрын

@josephsmith594 foreign investment driving up prices in Vancouver has been well documented and reported. Have you been living under a rock?

@joept333 3 ай бұрын

My landlord is iranian and owns 3 houses in the vancouver area. He rents out every room. He's barely in Canada

@marinawilliams3599 3 ай бұрын

Empty suites here in vancouver too owned by people in China, never even come to visit, suites just sit here empty for years now.

@wildandliving 3 ай бұрын

Make sure you with hold the tax out of your rent you can be burned by them nkt paying tax

@D2AMON 3 ай бұрын

Why no mention of foreign investment in real estate? I'd think that would be the number 1 thing to report on. But designated agricultural land? I had no idea it was that big of a deal

@gottasay1157 3 ай бұрын

it wasn't' investment. it was laundering

@YUNGMAS 3 ай бұрын

Foreign investment

@YUNGMAS 3 ай бұрын

I need more foreign investment

@thistime1483 3 ай бұрын

They are terrified of the backlash for telling the truth.

@jeremie05 3 ай бұрын

Because its not a major factor

@lorenzomabalos9851 3 ай бұрын

Vancouver is no longer part of Canada, but China.

@kyungshim6483 3 ай бұрын

The entire city was bought with laundered corruption money

@aromasyvides 3 ай бұрын

😅😅

@alexg9727 3 ай бұрын

And Ontario is India

@alexg9727 3 ай бұрын

By the UN definition forcibly causing a birthrate drop is considered genocide

@TheFreshAirChannel 3 ай бұрын

that was like 10-15 years ago. Alot of Chinese and Chinese-Canadians have left. China today has better quality of life and seen as more stable in some ways

@azuraroycroft2419 3 ай бұрын

Are you actually blaming farming, you know what feeds us instead of the obvious problem of too much immigration with no incentive to go anywhere but Vancouver or Toronto?

@YUNGMAS 3 ай бұрын

It’s always been the farmers

@bobwoods1302 3 ай бұрын

Funny how immigrants can afford it but you can't.

@firstandforemost87 3 ай бұрын

@@bobwoods1302 Immigrants can’t afford it either, bob. That is why so many are leaving, and making videos explaining that they are leaving because they can’t afford it.

@GentileWart 3 ай бұрын

Alberta and Sask seem to be packed with them as well. Can’t imagine what western BC is like. Not Orchestrated at all though.

@Brett733 3 ай бұрын

@@bobwoods1302 packing 15 people in a 3 bedroom while avoiding taxes and scamming people is their secret

@mstt3530 3 ай бұрын

The government should be ashamed of themselves! Soon the homeless will occupy that farmland in tents! Eventually Vancouver will become a place filled with tourists and homeless people.

@almontoya5703 3 ай бұрын

The problem is, they aren't ashamed. The only way to fix it is to have enough people to revolt against them. The government's perspective on the homeless: they should be ashamed of themselves! The government wants hard working people to play their system. Let's all band together and fight back, but the problem is we don't have enough support.

@cosmoray9750 3 ай бұрын

Inflation is one of the problem. The Canadian government keeps printing Can Dollars to fund the war in Ukriane/Israel. What happens when rampant printing takes place ? It devalue the Canadian currency. It means it takes more Can Currency to purchase a can of coke as an example. Notice a can of coke used to be $1 several years ago and now it is $2 or so. Then there are the influx of J.Ts international students from you know where. Why do we need 30+ year old international students. They are using it as a back door into Canada. They are economic migrants. Also there are housing shortage. The supply doesn't meet demands. Instead of building affordable homes. These builders are building two and three garage homes. Why do we need these huge homes and who can afford them. It is expensive as hell. Some people have two jobs and it is not good enough. All three combine cause homelessness in Canada. People who can are leaving in record numbers. Leaving as in leave the country.

@shauncameron8390 3 ай бұрын

@@cosmoray9750 < Instead of building affordable homes> That municipal and provincial governments made too costly and all but completely illegal to build with bureaucracy. One of the only kinds of homes they're legally allowed to build with a decent ROI.

@nicolasbenson009 3 ай бұрын

fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.

@Michaelparker12 3 ай бұрын

Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.

@tatianastarcic 3 ай бұрын

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

@berniceburgos- 3 ай бұрын

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

@tatianastarcic 3 ай бұрын

Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.

@BridgetMiller- 3 ай бұрын

Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from Melissa.

@sarahstrilchuk 3 ай бұрын

The farmland is not the problem, the foreign owned properties and vacation homes are the main problem. Let’s not blame farming, take away some of that farm land and suddenly there will be complaints about the food prices being raised drastically more.

@joeisawesome540 3 ай бұрын

lol, the farms around Vancouver produce how much food? Most of our food comes from south. Our farms in chilliwack is hardly productive

@DW-op7ly 3 ай бұрын

We borrowed and spent living the good life/high standard of living That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days Debt we really started running up in the 1940s. Sow dem gud ole dais ye pine fer? we didn’t pay for the first time around Which we just kicked this debt down the road for future generations to pay for Problem is, we stopped meeting “natural” population replacement rates in 1971 And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors As by 2032 immigration will make up 100% of our population growth So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home The rich ones to come support the economy and prop up the real estate Because most of these boomers are also personally cash poor/in debt But luckily….most of these boomers???? Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for. Which these boomers can get lines of credit on or reverse mortgage on or sell if they have to Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links… on our building/buying enough facilities to house millions of Canadian seniors in the next decade Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy. (I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days) Try having 50k of someone else’s currency worth 2 million of our Canadian dollars Or have what kids you and I did actually have… Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in So the people at the bottom of our society lose out…. or we all do Don’t like packing in these immigrants/people as the solution? Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return” Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada Plus since we stopped replacing ourselves. It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this Our being broke… azzz Canadians who couldn’t replace ourselves

@SilentZyko 3 ай бұрын

@@DW-op7lyfacts. Old people are the real problem. Specifically the generation before X. Always being. NIMBYS and all that stuff..

@skipj5480 3 ай бұрын

Well anyone who likes eating food, really shouldn't be blaming farmers.

@Maxmulham 3 ай бұрын

Oh give me a break. You know the real driving factor. Stop this madness.

@kyungshim6483 3 ай бұрын

laundered corruption money from an single country in Asia

@sampicano 3 ай бұрын

Immigrants

@DW-op7ly 3 ай бұрын

We borrowed and spent living the good life/high standard of living That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days Debt we really started running up in the 1940s. Sow dem gud ole dais ye pine fer? we didn’t pay for the first time around Which we just kicked this debt down the road for future generations to pay for Problem is, we stopped meeting “natural” population replacement rates in 1971 And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors As by 2032 immigration will make up 100% of our population growth So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home The rich ones to come support the economy and prop up the real estate Because most of these boomers are also personally cash poor/in debt But luckily….most of these boomers???? Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for. Which these boomers can get lines of credit on or reverse mortgage on or sell if they have to Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links… on our building/buying enough facilities to house millions of Canadian seniors in the next decade Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy. (I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days) Try having 50k of someone else’s currency worth 2 million of our Canadian dollars Or have what kids you and I did actually have… Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in So the people at the bottom of our society lose out…. or we all do Don’t like packing in these immigrants/people as the solution? Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return” Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada Plus since we stopped replacing ourselves. It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this Our being broke… azzz Canadians who couldn’t replace ourselves

@KaleighMacKay 3 ай бұрын

Glad I’m leaving the country.

@YUNGMAS 3 ай бұрын

😢

@joeisawesome540 3 ай бұрын

And go to mars ?

@yakinikutabetai4780 3 ай бұрын

Richmond is china, surrey is india, whats next?

@YUNGMAS 3 ай бұрын

What’s wrong with that

@drutter 3 ай бұрын

Burnaby is China, India, Syria, and Somalia all mixed together. Most Europeans have been pushed out by various policies since 2015.

@DW-op7ly 3 ай бұрын

We borrowed and spent living the good life/high standard of living That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days Debt we really started running up in the 1940s. Sow dem gud ole dais ye pine fer? we didn’t pay for the first time around Which we just kicked this debt down the road for future generations to pay for Problem is, we stopped meeting “natural” population replacement rates in 1971 And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors As by 2032 immigration will make up 100% of our population growth So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home The rich ones to come support the economy and prop up the real estate Because most of these boomers are also personally cash poor/in debt But luckily….most of these boomers???? Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for. Which these boomers can get lines of credit on or reverse mortgage on or sell if they have to Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links… on our building/buying enough facilities to house millions of Canadian seniors in the next decade Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy. (I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days) Try having 50k of someone else’s currency worth 2 million of our Canadian dollars Or have what kids you and I did actually have… Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in So the people at the bottom of our society lose out…. or we all do Don’t like packing in these immigrants/people as the solution? Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return” Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada Plus since we stopped replacing ourselves. It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this Our being broke… azzz Canadians who couldn’t replace ourselves

@DW-op7ly 3 ай бұрын

@@dinvsl just because you say it didnt happen does not mean it didn’t happen I’m talking from a demographic perspective Not from a selfish me myself and I perspective… As you must be a boomer The average Canadian is in debt or broke And you for sure benefit from the Government borrowing that makes it so you don’t have to pay 500 Canadian dollars for a loaf of bread You didn’t care your whole life as a selfish boomer so stop complaining about the solutions now

@STOP5133 3 ай бұрын

@@drutterpushed out to where?

@wc4109 3 ай бұрын

Foreign money was a large reason both federal & BC governments previously ignored…. I remembered around 2016, Vancouver home prices went up 30-50%! And never looked back…

@larrymunn5279 3 ай бұрын

Well the city of Vancouver was proud of the price increases. But I recall at that time a lot of heat being called down on what CBC called the shadow housing market. Many of these fancy homes were owned by shady foreign buyers that didn't even live in them.

@vancouverviking4652 3 ай бұрын

Blackface and the CCP largerly to blame.

@almontoya5703 3 ай бұрын

The government can still fix it but we all have to band together and demand it. We have to revolt. They can reverse the damage even though some people will get hurt by it but it's necessary. What will work is to force all current foreign owners to park their money somewhere else within 1 year (if fail to sell, will automatically go to an auction sale). Make residential properties for Canadians only. Any homes sold within 3 years will be taxed 100% inclusion rate with some exceptions that is out of your control. Anyone that owns 2+ properties will be taxed appropriately to prevent making dumb money. Airb&b has to have a business license and follow the motel/hotel regulations respective to their jurisdiction. All mortgage application will require to confirm their income using their tax assessment directly from the CRA. 2nd or more properties will not be allowed to get a mortgage/HELOC.

@almontoya5703 3 ай бұрын

What will work is to force all current foreign owners to park their money somewhere else within 1 year (if fail to sell, will automatically go to an auction sale). Make residential properties for Canadians only. Any homes sold within 3 years will be taxed 100% inclusion rate with some exceptions that is out of your control. Anyone that owns 2+ properties will be taxed appropriately to prevent making dumb money. Airb&b has to have a business license and follow the motel/hotel regulations respective to their jurisdiction. All mortgage application will require to confirm their income using their tax assessment directly form the CRA. 2nd or more properties will not be allowed to get a mortgage/HELOC.

@ryanyoung1985 3 ай бұрын

@@larrymunn5279 was the drug trade fueling cash washed in casinos put into the housing market inflating the luxury market, lifting up rest of market

@ddvanzano 3 ай бұрын

Every day, it’s the same news: housing crisis, unaffordable homes… it’s like a broken record. The federal government does nothing, and the provincial government isn’t any better. HOAs are busy ruining the lives of younger generations, blocking any meaningful change that could actually help. And so, the cycle continues. It’s unbelievable that a "first world country" lets this go unchecked. I come from a third world country where we don't have a housing crisis. Canada should be ashamed. After ten years here, I’m counting down the days until I can leave. This is what happens when a country ties its citizens' retirement plans to real estate. Good luck, Canada. This place is a failure

@drutter 3 ай бұрын

It's not actually up to government to fix problems like this. It IS up to government to stop CAUSING problems like this. Mass immigration of the world's needy, for example. We just can't afford to make everybody a Canadian and hook them up with our benefits. We have a lot of resources, but there's a limit, and we've gone far beyond it.

@ddvanzano 3 ай бұрын

@@drutter For sure immigration has a part on the problem. But if you believe is the only thing to blame you are being delusional. I bought a house 3 months ago, it was a long hunt. I've seen rows and rows of houses and townhomes that were completely sold before even being built by investors. You gonna tell me that's immigration ? No... that is foreign money/investors playing cards with a crucial need of every country: Housing. So, yes the federal government can and should prevent that.

@beautanner8409 2 ай бұрын

This is what happens when we have record-breaking levels of immigration at a time of severe housing scarcity.

@42DangerVision 3 ай бұрын

It's not "a struggle for a lotta people." It's an unmitigated disaster of generational proportions.

@wingberry123 2 ай бұрын

Not only is it utterly boring here, it's also expensive as well. It rains a lot and there's a massive drug problem. Not worth it.

@stardust4987 3 ай бұрын

And that cost spills over to Vancouver Island.

@markamd1 3 ай бұрын

Hongcouver was always out of reach for Canadians, all you see is 16 year old Chineese kids in their Bentleys

@rickium 3 ай бұрын

As a 16 year old Chineese kid, I can confirm we're in our Bentleys. We also use our Rolls Royce for grocery shopping

@kyungshim6483 3 ай бұрын

all laundered corruption money

@Marcus-ss4gn 3 ай бұрын

Our planet's most unaffordable 3rd? Only 3rd? wow not too bad Vancouver.. I'm so glad I left that city.

@ktowniecity7269 3 ай бұрын

@@Marcus-ss4gn why anyone stays is beyond me. its a tourist town with zero sense of community. people are living in denial if they are trying to make a life there!

@YUNGMAS 3 ай бұрын

Get a job

@GaiusBaltarrr 3 ай бұрын

"It's so expensive because we can't build out in to farmalnd! So, having the vast majority of the city be fully restricted to -single family housing only -minimum plot size -minimum lawn setback size -maximum height -maximum units -and more restrictions AREN'T messing with supply and pricing?

@Madyoke 3 ай бұрын

You’ve hit the nail on the head. When you fly over Vancouver, it’s shocking how much of the city is detached housing and little amount of apartments and high rises there are. The whole city out to Chilliwack should be automatically rezoned so if someone wants to build townhouses or apartments non single family zones areas they can immediately and without applying for permission

@joeisawesome540 3 ай бұрын

@@Madyoke I love detached homes though. They are the best

@paulmcewen7384 3 ай бұрын

Bingo. Zoning issue plain and simple. Vancouver is not dense. Only two small neighborhoods are.

@beautanner8409 2 ай бұрын

They mention the agricultural land reserve as the reason for Vancouver's unaffordability - curiously absent from the commentary is the fact that we have record-breaking immigration that is far outstripping our ability to build homes.

@yakinikutabetai4780 3 ай бұрын

Zoning has been part of the issue but they decided to import thousands upon thousands of migrants.....lets be reaL here....the open house I went to for an apartment was full of non-canadians 30 to 1

@bobwoods1302 3 ай бұрын

How come they can afford a home and you cannot?

@eddietat95 3 ай бұрын

@@bobwoods1302 Subsidies.

@bobwoods1302 3 ай бұрын

@@eddietat95 What subsidies?

@person51035 3 ай бұрын

@@bobwoods1302 There are "newcomer incentives" which make it much easier for Punjabis to get jobs over Canadian citizens. Also, look into "Brampton mortgages" to see how they break the rules and get away with it. The tall Punjab guy (international student) who was the lead spokesperson in the PEI protests owns property in Canada with his brother. He invested and co-signed, then turned around and said "Canada MADE me buy property and now won't let me stay in the country! So racist!"

@drutter 3 ай бұрын

@@bobwoods1302 From the government for being an immigrant. Notice how immigrants all have houses and apartments, but longtime Canadians are the ones living on the streets and surfing couches?

@VaultTec30000 3 ай бұрын

I myself know at least two people who own houses in Van, rent them out and don't even live in Canada.

@Dam-a-fence 3 ай бұрын

Vancouver is not alone in the "impossibly" unaffordable. When the building I'm living in collapses or gets condemned, I WILL be homeless. There is nowhere to go. To pay what I pay now for these 670 square feet, I will get an 8x8 room in another hovel. I might as well find any way to go to prison and stay there. At least there I'm guaranteed three meals a day.

@drutter 3 ай бұрын

Bit of a drain on the rest of us, though.

@sydneyleite6553 3 ай бұрын

I'm curious when people say they will be homeless at these rates. can you elaborate? Why couldn't people like yourself move to a cheaper city or province?

@shauncameron8390 3 ай бұрын

But in comparison to the rest of Canada, Vancouver stands alone.

@Ravenswalk 3 ай бұрын

My son and his family leave at the end of the month they’re moving to Alberta.

@HattoriHanzo-fg8cy 3 ай бұрын

Don't vote liberal or ndp.

@martymcfly88mph35 3 ай бұрын

Please tell them to not come here and vote NDP/Liberals.

@rupertperiwinkle4477 3 ай бұрын

Lol its going to get $$$$$$ there too. Plus the overt racism

@joeisawesome540 3 ай бұрын

And they will come back during the bust cycle. It always have been like this. Alberta booms, and people move there, like back in 2011s

@joeisawesome540 3 ай бұрын

@Dave-gy5mv dw, when the bust cycle comes when Saudi decides to dump oil again, all these people will leave.

@Borisvanderoost 3 ай бұрын

Just a small detail for the editorial team - that isn't a stock photo of Hong Kong but Shenzhen, the city right across the border control.

@lastChang 3 ай бұрын

To control housing prices, the Canadian 🇨🇦 government needs to stop Chinese money laundering into the country.

@almontoya5703 3 ай бұрын

That's not gonna work. What will work is to force all current foreign owners to park their money somewhere else within 1 year (if fail to sell, will automatically go to an auction sale). Make residential properties for Canadians only. Any homes sold within 3 years will be taxed 100% inclusion rate with some exceptions that is out of your control. Anyone that owns 2+ properties will be taxed appropriately to prevent making dumb money. Airb&b has to have a business license and follow the motel/hotel regulations respective to their jurisdiction. All mortgage application will require to confirm their income using their tax assessment directly form the CRA. 2nd or more properties will not be allowed to get a mortgage/HELOC.

@acendagrowth 3 ай бұрын

@@almontoya5703 What he said

@YUNGMAS 3 ай бұрын

It’s the agriculture land that is the problem didn’t you watch the video where did they mention china in the video

@joeisawesome540 3 ай бұрын

@@YUNGMASforeign investor account for a tiny percentage of home ownership. The biggest problem is we don’t use enough of our land.

@DW-op7ly 3 ай бұрын

We borrowed and spent living the good life/high standard of living That is what you folks don’t get… we are broke. Azzzzzz…. Canadians who can’t pay our debts sitting on 2 trillion in Provincial/Federal debt these days Debt we really started running up in the 1940s. Sow dem gud ole dais ye pine fer? we didn’t pay for the first time around Which we just kicked this debt down the road for future generations to pay for Problem is, we stopped meeting “natural” population replacement rates in 1971 And we have around 1000 boomers turning 65 each and everyday in Canada (That started in 2011 won’t end until 2028) By 2036 we will have around 11 million Canadian seniors As by 2032 immigration will make up 100% of our population growth So we pack in the immigrants the poor ones to make our french fries and more importantly flip us over in bed in the old age home The rich ones to come support the economy and prop up the real estate Because most of these boomers are also personally cash poor/in debt But luckily….most of these boomers???? Shockingly by some engineered miracle the last few decades 😉!!!!! own a 40 year old plus never been renovated, overpriced home some immigrant is willing to overpay for. Which these boomers can get lines of credit on or reverse mortgage on or sell if they have to Which they should not .. … as that home will be one their own personal old age home in the future unless you can show me some links… on our building/buying enough facilities to house millions of Canadian seniors in the next decade Yes it’s one big Ponzi scheme that scr (ew) over the younger folks but we don’t want to crash our Ponzi Scheme of economy. (I have purposely gone to live in countries and among the locals living on a dollar a day wages in comparison to our dollar. You think your life su…cks these days) Try having 50k of someone else’s currency worth 2 million of our Canadian dollars Or have what kids you and I did actually have… Having to sell their wares to Russian sailors for a 500 CDN dollar loaf of bread or trying to sail a boat to some distant country for a better life wind up washed ashore on a beach Or grandmami/grandpapi begging on the street because that nest egg home they have they can’t sell off or afford to live in So the people at the bottom of our society lose out…. or we all do Don’t like packing in these immigrants/people as the solution? Let’s hear you folks say “I demand to pay more taxes” and “I demand less social services in return” Or let’s sell 25 year 50 year forward contracts on our natural resources some foreign corporation or Country can come into mine. Using our young as cheap labour Or let’s be known as the deadbeat generation who had to resort to selling off pieces of Canada Plus since we stopped replacing ourselves. It will be more and more likely the great great great grandkids of these new immigrants stuck paying off the debts we run up long after we are gone… As we stick them with the bill But since we have been sel fish our whole lives living that good life let’s “now” complain about the solutions after decades and decades of this Our being broke… azzz Canadians who couldn’t replace ourselves

@edocms Ай бұрын

The solution is so simple: just build as many free tiny homes out of containers for anyone who wants one. Oh, someone has already tried that and got banned by the government. So the real problem is big government, not housing crisis.

@juliangoodguy5391 3 ай бұрын

Anyone anywhere in the world can buy any residential property in Vancouver or Canada anytime without any restriction, other than a small foreign buyers tax which many avoid. Golden visa are easy to obtain and good for 10 years. Our residential property in Canada is treated as a commodity which sells to the highest bidder from anywhere. There is no consideration for the actual residents and citizens of the country who want to buy property. It's all about fast money and money laundering from organized crime. We have 10s of billions of dollars being laundered through Canada each year. The governments involved, who's house values keep increasing yearly turn a blind eye and the banks continue to make record profits.

@beautanner8409 2 ай бұрын

You hit the nail squarely on the head.

@shauncameron8390 Ай бұрын

You mean record revenues as no profit is made until all expenses are accounted for and there's money left.

@walawala-fo7ds Ай бұрын

So much for transit oriented development making anything affordable

@rafial81 3 ай бұрын

You get what you vote for.. Enjoy the result of massive immigration and inflation/taxes/money printing/massive deficit

@KaleighMacKay 3 ай бұрын

No one voted for mass immigration. None of the politicians runs on “im gonna bring in a bunch of people who you will have to compete with for jobs, services, and housing” We aren’t a true democracy. WE don’t get a say on what happens. We vote for people who align best with our views. But trust me anyone who voted liberal didn’t want this either

@YUNGMAS 3 ай бұрын

I didn’t vote and some how I still have a net worth

@ermagerd101 3 ай бұрын

Come out to the Maritimes, housing is less than half of the national average. Better be healthy though as healthcare is terrible.

@Timetravel755 3 ай бұрын

It just makes me laugh. Everyone had something negative to say about Alberta. It's funny how that changed

@ddvanzano 3 ай бұрын

Doesn't change the truth... Alberta is still Alberta no matter how much any other place suck in Canada.

@gk6199 3 ай бұрын

Honestly. I love it here. I just wish BC and Ontario would stop coming. We don't need your mindset.

@briandufoe3719 2 ай бұрын

Alberta is the last province I'd move to.

@Timetravel755 2 ай бұрын

@briandufoe3719 that's ok. we aren't upset about it!

@briandufoe3719 2 ай бұрын

@@Timetravel755 Lol, I know Your only upset when oil goes down !lol

@crystalidx 28 күн бұрын

Don't forget the 5% tax on newly built homes.

@Marcus-ss4gn 3 ай бұрын

Our planet's most unaffordable 3rd? Only 3rd? wow not too bad Vancouver.. I'm so glad I left that city.

@drutter 3 ай бұрын

I left in 2019. Could not find an apartment for my wife and I that would accept us. We have savings and income, but no 9-5 job, and landlords DEMAND that you have a 9-5. It's not income or savings they care about, they want to know you're a working drone who checks all the boxes and won't be home to use utilities or cause wear and tear. We have a flawless rental record but had to leave our lives and friends behind, to move to Northern BC. This was the only rental we could find in all of the province that would accept us. Cost us more than $10k to make the move, and we still have not recovered years later. What a nightmare Trudeau's Canada is.

@AK-hi7mg 2 ай бұрын

I was renting a 1 bedroom apartment for 1450 $ a month . Was making 2100$ a month . Its managable , but you have to live very frugal.

@ElainEmail-m7q 3 ай бұрын

Unaffordable housing ratio has 2 numbers in it : HOUSING PRICE / INCOME If the INCOME number has been low for decades because employers could pay low wages, therefore the ratio is always high. Regardless of the housing price number is lowered, the Unaffordable Ratio number is still high. The possible solution is pay HIGHER WAGES.

@gregjones1339 3 ай бұрын

Higher wages means more money to spend. More money to spend means demand goes up because more people will be buying Demand going up means prices go up. You'll just be endlessly chasing your tail.

@_________dd 3 ай бұрын

@@gregjones1339 If that's the case New York would be the most unaffordable city in the world but it's not.

@shauncameron8390 3 ай бұрын

@@_________dd But New York has way more opportunities to make money.

@_________dd 3 ай бұрын

@@shauncameron8390 yeah which is what I'm saying. My comment is a response to Greg Jones' in case you misread.

@JJ-Bond 2 ай бұрын

The demands are all from speculators who already have 5 properties. Same 1 bedroom condo, same owner, different tenants, rent go from $2000 to $2900 from 2022 to 2024. This country has noore hope so long the speculators keep stocking, renting, and flipping.

@badassbombshell5894 3 ай бұрын

Restrictions on sprawl are not the problem, the Canadian economy is.

@TML-pm8fz 3 ай бұрын

Do you want house prices to come down? Then write your MP (on paper - postage is free) and tell them to start talking about immigration reduction again.

@notyourbestie 3 ай бұрын

When government have immigration stream for hong kong citizens, what do they expect? Of course it will be the next hong kong

@buildyourowntone 3 ай бұрын

The people with money drive the market it is as simple as that. Where the money comes from is another matter. Foreign money becomes a problem, when the domicile is not properly lived in. Farmland should not be an issue, we need the farmland. Too many people wanting to live in densely populated cities and wanting to live in Canada et al is causing the strain on supply and demand. Immigration should literally be halted and a moratorium study should severely LIMIT the number of people coming into this country from any one country or region. The open immigration has caused a lot of this mess along with foreign domicile purchases. No easy solution, because nobody wants to tackle the problem without offending some culture's sensibilities. The problem will NOT go away until the issue of immigration is properly solved.

@YUNGMAS 3 ай бұрын

Look if I have 20 properties all with a monthly mortgage total of 195,000$ because of my down payment there is no excuse for anyone.

@yasarkarakoc2502 Ай бұрын

For those who have contributed to this "success" I salute you

@thiogarces 3 ай бұрын

It´s madness the prices for rent and is stupid soemtimes you find a place a mean a small roach room for 3500 dollars and then you also find some awful roomies bringing protitues drugs and big crows of people making night party 7/24

@helpothers-afriendinneedis5112 2 ай бұрын

The housing prices are similar in Heseinki Finland and Seoul in South Korea. No one talks about that. Reason for me to chose these two developed nations is 1 they are from Europe and Asia and are developed nations. Canada being a developed nation, the prices are comparable and follow the same trend.

@HamidA-to8vy 3 ай бұрын

I hope interest rate stays high for long time, until people learn to not throw their money easily , and the greedy people forget the easy money

@matt-sm8ur 3 ай бұрын

No more foreign buyers

@kc3678 3 ай бұрын

Just for ghits and shiggles, I would like to see those paying over 30 percent of their income to housing show up on the lawns of their local city hall for a day, or as long as it takes to get a real count of the problem. Maybe an encampment will get some shovels in the ground. Doubt it. Many in need will be dead or collecting pension by the time any significant progress occurs, if at all.

@drutter 3 ай бұрын

A lot of us are paying over 60% of our income to housing. Anything to keep my children off the streets. I'll skip meals to keep a roof over their heads here in Northern BC.

@jmaychak1992 3 ай бұрын

Trudeau and Freeland fault

@drutter 3 ай бұрын

Yeah, notice how it really ramped up hard in 2015?

@StuntDonk 3 ай бұрын

vancouver has always been expensive

@hmj6324 3 ай бұрын

Welcome to the NDP and Liberal world. JT and his clowns built this city great.

@AndrewIanWeir 3 ай бұрын

Unless you plan on voting conservative. Stay out of Alberta!

@winstonsmith935 3 ай бұрын

If you starve the people you could have more land for housing. Forest fires have destroyed the supply of cheap wood for housing. So it’s your choice Vancouver.

@kandym3478 3 ай бұрын

what a s*** show! If this continues there will be nowhere to go...

@YUNGMAS 3 ай бұрын

Get a job

@adamtajhassam9188 3 ай бұрын

@@YUNGMAS Jobs are not paying enough get rid of the greed.

@firstandforemost87 3 ай бұрын

@@YUNGMAS Ppl w good jobs can’t afford a home.

@joeisawesome540 3 ай бұрын

@@firstandforemost87 I can and my job is average. What people need to do is save. The average Canadians don’t want to save money. Did you know 40% of people making 250k or more are living paycheques to pay cheques. Why is that? Not because the city is that expensive because 50% of people making 100k are not living paycheques to paycheques. It is because they squandered all their money away and then whine when they can’t afford anything.

@firstandforemost87 3 ай бұрын

@@joeisawesome540 I save religiously compared to the average person, and I have a solid job. Even where I am this doesn’t go far in housing. Look down your nose at others all you want, but you and I both know it is unreasonably hard for ppl to afford a home right now. Keep patting yourself on the back though. W/e lets you tell yourself you’re better. I have two places, btw. I don’t need to struggle to get where ppl are coming from.

@FordManiac76 3 ай бұрын

Sorry to say but interest rates need to go up further to pop this bubble and crash the housing market!!!

@crunchybobaasmr2130 2 ай бұрын

While he spends 250000 on his trip

@comeconcon569 3 ай бұрын

And possibly more expensive than Toronto as well.

@paulmcewen7384 3 ай бұрын

Patrick Condon, Colleen Hardwick, and so many other Vancouver housing experts have it correct. Building more homes will not make homes more affordable. That time during covid when vacancy went up after all the intl students left and rents got cheaper.... was just an anomaly.

@niftyoptionslivetradingand7231 3 ай бұрын

All the landlords in Calgary and Edmonton are the rich real estate multi house owners of Ontario and BC, selling some of their property there and buying multiple houses in Calgary and Edmonton AGAIN like crazy, and then in a couple of years it will be time to move out of Edmonton and Calgary AGAIN. The average price of a 2bhk + 2bath in Edmonton is 2000$ and who says it is affordable here ANYMORE....(MULTI HOME OWNERS + PROPERTY OWNERS + MORTGAGE BROKERS + BIG BANKS = ZERO sum game for the middle class Canadians) PERIOD....

@kevinl7173 6 күн бұрын

All the super housing bubbles happen in the Brit cities, no doubt this worldwide housing bubble must have something to do with the Brits, *** Hong Kong is also a former Brit City

@alanj9978 3 ай бұрын

Moved to the Island 8 years ago, since we were never going to be able to afford a house in Vancouver. Housing has more than doubled here in that time. It's completely insane.

@internalcombustion641 3 ай бұрын

Vancouver Island is no longer affordable.

@lagvin719ify 3 ай бұрын

Who do you think is making these really expensive...google dominant race im the 3 most expensive cities

@kyungshim6483 3 ай бұрын

Not who. It's what. Laundered corruption money from a particular country in Asia.

@kino_cinante 3 ай бұрын

My search results returned the scottish, English, and Italians.

@JessT-vg7ib 3 ай бұрын

jews?

@bobwoods1302 3 ай бұрын

Crazy how they managed to afford it and you being born in the best country in the world can't afford it.

@lagvin719ify 3 ай бұрын

@@kino_cinante google sydney hongkong and vancouver

@KneZor 3 ай бұрын

I taught Vancouver was "most livable" not too long ago!? Get your reporting in order, Global TV!

@joeisawesome540 3 ай бұрын

Livable ? Mean it is one of the most desirable city, which is why it is expensive

@micheltremblay-m2y 2 ай бұрын

and it rains all the time..!!!!!!!!!!!!!!

@MR007-r3f 3 ай бұрын

Wait for the renewals in 2025 and 2026. Unfortunately, this is very similar to the '08 crisis.

@andrelockridge9109 2 ай бұрын

Changes to zoning laws,encourage more home construction. Higher density housing in the suburbs! Stop scapegoating minorities & foreigners.Canada's favorite pastime for the past two decades!

@spacebarwasd9782 2 ай бұрын

I have a Chinese landlord who owns the town... I called him the townlord... He lives in China too...

@tataniclovely 2 ай бұрын

Unfortunately we talk talk talk We supposed to fine solutions or government should do something

@SuccessForever1234 3 ай бұрын

I already left and making arrangements for my kids to follow. Alberta isn’t cheap..

@firstandforemost87 3 ай бұрын

Great. Now AB can become just like BC…

@SilentZyko 3 ай бұрын

@@firstandforemost87that’ll never happen dw man. Alberta isnt trapped in a valley and alberta seems to have a pretty competent gov conpared to BC

@firstandforemost87 3 ай бұрын

@@SilentZyko Until BC ppl vote for a BC gov in AB.

@firstandforemost87 3 ай бұрын

@@SilentZyko Hopefully you’re right.

@Some826 3 ай бұрын

No one can even afford rent across Canada never mind food or gas … Truduh has destroyed Canada

@nrdify 3 ай бұрын

The housing crisis happened long before Trudeau...

@shauncameron8390 3 ай бұрын

@@nrdify Not at all.

@justingibbons2696 Ай бұрын

Same situation in Seattle

@BClocals 3 ай бұрын

Even in our small towns in BC are over-priced! Little crap hole homes are over $500k with lots of problems. We love BC but its hard on most people and buying a home now is impossible unless you have half a million plus renovation cost...

@JessT-vg7ib 3 ай бұрын

hahahahaha completely unaffordable and yet people keep moving there...and trudeaus solution...increase immigration more

@drutter 3 ай бұрын

Canadians don't keep moving there. The immigration coming into Vancouver is from Asia, Africa, and Middle East.

@BergJager1 3 ай бұрын

Dude has got it wrong! It has nothing to do with designated farmland. It has to to with the fact that there are bungalows and housing taking up space where there should be 3 story to 20 story rises. Fact is most urban centres are building up while Vancouverites are fighting to build out. Montreal (an Island) takes up 365 km squared with a population of 1.7 million while Vancouver takes up 114 km squared with only a population of 675,000. That’s 900 people per km squared as opposed to Montreals 4517 people per km squared. I find it amusing that the tree huggers want to cut down more trees and invade wildlife space rather then change their already luxurious lifestyles.

@JoanMurray-j5y 2 ай бұрын

In 1983 I rented the third floor(3 rooms) of a lovely old house at Yukon and 11th, 2 blocks from city hall. 178.00$ a moth, increased 10% a year. I loved it. Great view. Free utilities.

@minisarefuntopaint Ай бұрын

Or you could crack down on money laundering and cut immigration down to something more reasonable. Vancouver may be the worst, but high housing prices are a problem all across Canada.

@shauncameron8390 Ай бұрын

But Vancouver takes the cake.

@minisarefuntopaint Ай бұрын

@@shauncameron8390 That it does indeed! There's a reason I don't live there anymore.

@CraigfromCanada 3 ай бұрын

Are you kidding that they are blaming ALR? Try infill and building smarter before sprawl. Deal with investment properties and multiple single family home ownership before pointing the finger at protected lands.

@Yoopsen213 3 ай бұрын

Oh come on, urban sprawl won’t save house prices lmao what the hell did I just watch

@esparda07 3 ай бұрын

I thought this was an Australian news outlet at the start. Canada truly is a melting pot of cultures. We have Chinese landlords with Indian workers lol. The rest are just watching from the sidelines.

@junyu2285 Ай бұрын

You used a photo of Shenzhen for Hong Kong...

@corylee2966 3 ай бұрын

Don't come to alberta.

@tonyhawkification 3 ай бұрын

We need the ccp to do better for us Canadians.

@sba_14 8 күн бұрын

there's nothing in vancouver or really spectator about toronto or any of these cities that housing should be unaffordable, fact one! fact two, locals are too poor to build any homes, cheap, low-cost or not, canadians are poor! time to form cooperatives and build subsidized homes! & lastly this has nothing to do with immigrants, if anyone can pay for a condo or duplex, immigrant or local they would & should go for it, blaming immigrants or "foreigners" is the playbook of devilish politicians playing on the weak mindset of the people.

@shauncameron8390 5 күн бұрын

Toronto is Canada's #1 financial center.

@andg5194 3 ай бұрын

Every farms in Surrey has biggest and most luxurious mansion I have ever seen... yes, those farm lands need to be protected even though every produce I see in grocery stores are either from California or Mexico.... Dang those blue berries and cranberries need to be protected...🙄

@wildandliving 3 ай бұрын

If more people move out then in... that means Lee's demand for homes so lower prices. O wait no one seems to be buying right now and prices are sky high still

@lightbringer851 3 ай бұрын

I thought it was 1st in the world 😅

@whynot7728 3 ай бұрын

HongCouver is the worst place to live PERIOD.

@ChrisTopher-yi8mj 3 ай бұрын

Yup.match boxes for millions

@deekay13 2 ай бұрын

More like glass boxes

@catherinewilson1079 3 ай бұрын

Makes sense! Vancouver was first priced out of Canadians reach by people from Hong Kong!!!

@deekay13 2 ай бұрын

I thought Canada was supportive of Hong Kongers immigrating here to escape communist China?

@ryanmuir6338 3 ай бұрын

That's why I cashed out in 2020 selling way over ask and went to Alberta and bought under ask

@ryanmuir6338 3 ай бұрын

@@colinsellers1143 I'm not job trapped in Vancouver, I'm retired

@TBA-zv9qt 3 ай бұрын

Whi would have thought? Thanks to Trudie's open borders and mass immigration policy!

@joeisawesome540 3 ай бұрын

So how come Vancouver home went up by 300% from 600k to 1.8m before Trudeau was elected ?

@jimcook8933 3 ай бұрын

I don't understand the panic. Government is well on its way to providing low income housing, along with another 4 or 5 increases this year to minimum wage. Problem solved.