ca.finance.yahoo.com/news/huge-increases-economists-sound-alarm-over-impact-of-canada-population-growth-on-housing-market-143929629.html
'Huge increases': Economists sound alarm over impact of Canada population growth on housing market
HousingIf you have a house don't sell it. In less than 10 years the price will double. Thanks to Mr. Trudeau....
Yeah, this is the thing about escalating housing prices. If you sell your house, you still have to live somewhere. If you stay in Canada, your next house will probably be more expensive than your current house. And rent is out of control too. So who really benefits? Well, banks and developers do. And real estate agents getting commissions. But homeowners can’t really “cash out and live off the spoils” unless you move to another country. Which a lot of people are doing, incidentally.
Your post implies you think the other party will be different. Spoiler: they won't.
But they will take your healthcare while screeching the culture war flavor of the month to keep you distracted.
I didn’t take that from the persons post at all. I can’t stand the conservatives, think they’d be worse in nearly every regard and absolutely despise this policy that’s hurting peoples standard of living. Not everything is a team sport, you can criticize aspects of policy that aren’t working.
Not Trudeau direct fault. Stop blaming the government for all your problems
PEI starting the trend! Love to see it.
You can get an economist to say anything. " Economists Sound The Alarm !" Well your a little fucking late. You should have sounded the alarm 10 effin years ago. I am in that industry and we sounded the alarm 20 years ago. Hint ... its not just immigration. Inept, corrupt government has a big role. Look at Ford. There are a handful of wealthy developers raking in the cake courtesy of FILL IN THE BLANK >
To be fair, economists have been warning about this for a while.
Federal servants warned Trudeaus government about immigration affecting the housing market when he got into office. He ignored it
The appeal of importing cheap poverty wage workers who will accept being stacked 12 to a one bedroom over paying Canadians a basic living wage was just too sweet
Indentured servitude for the 21st century. The new Canadian dream.
Why is limiting immigration (tfw, student visa, PR, asylum, etc) to something sane like 500k/ year not like an immediate option. Why are we neglecting the clear elephant in the room.
Our current immigration policy is not fair to Canadians here who are suffering under these insane CoL increases, and even more unfair to immigrants themselves who are being sold a broken dream and fall victim to greedy and shady institutions exploiting this tragedy.
Unlike many other matters, this is really on the federal government and they have fucked up big time but still won't do what's needed.
Bottom line is that we need to reduce the rate of total immigration (i.e. headcount growth) back to 300K a yr- maybe below that for a while until housing prices drop 50% in relation to wages.
There's no getting past that equation because not cutting immigration means either:
- doubling or tripling our housing construction industry (and all industries supplying them from equipment right down to lumber and gravel). That's a 20 year journey.
- Doubling our productivity and thus wages
Additionally Housing has to drop relative to wages soon or we'll see a permanent decline in living standards for each new cohort of FTHBs.
I’ve got zero faith anything like this will even be considered
The housing market is so out of control I don't think anyone or anything can fix it at this point. Politicians kicked the can down the road a few too many times and our young people are in for a lost decade or decades. Also if we turned off immigration and house prices did suddenly drop and were put up for sale investors would just gobble everything up immediately.
Yeah we need more regulations not just a population growth decline. We also should mandate that not everything is a fucking "luxury" apartment, condo or massive single family homes.
I would also love for us to go back to the 80s where the government built and owned some housing. Another option is more co-op housing. We could do it like in Vienna Austria where the government owns 25% of the housing stock and also controls about 24% built and owned by limited-profit private developers but developed through a city-regulated process.
In Vienna Austria they don't have a housing crisis as the free market has to compete with social housing prices. Also in these social housing the rent is capped at 20-25% of your income. It is also a bit crazy that it doesn't increase if your wages increase so the rent is capped at when you first move in.
We desperately need social housing to come back.
One can easily avoid this by ensuring no RE investors can buy brownfield homes / condos. Blanket ban on corporate holdings - ensure prices stay low until the actual youth get the chance to buy them.
Just stop. For I dunno, a year? It’s not like we HAVE to let anyone in.
It's interesting, but we're seeing monied interests (banks, the intelligence services, even right-wing think-tanks) raising the alarm now.
They can't quite bring themselves to talk about the solution (taxing the wealthy and building public housing at scale, punitive taxation on real estate speculation) but that they're even acknowledging it's a problem is a sea-change.
I think they're also trying really hard to find a way to fix this that doesn't involve rich people taking a haircut. That's part of why we have an immigration problem: because governments have been trying to use immigration to plaster over fundamental problems with neoliberalism. We can see this today, they're still trying to fix this with grants to the rich and tax cuts, and it's not working.
The problem, really, is that the best time to intervene would have been in the late 1990s, but everyone was too busy making too much money to care, and just kicked the can down the road. This would have been cheap to fix in 2001 when it was just Vancouver and Toronto starting to overheat, but now it's too big to fail.
When CSIS and the RCMP are worried about domestic unrest fueled by economic insecurity--and they've said as much--you know it's an issue.
The only thing that will bring down prices is both less people and more houses.
Van and Toronto are not too big to fail. Even if we let housing prices drop in those cities, there still will be lots of demand from existing residents, even if we cut out path ways to PR.
Turn off the TFW and scam student taps, and give existing residents a fair shot at affordable housing. It still will be expensive but at least the prices won’t keep appreciating the way they used to.
Maybe the real estate will crash in places like Kitchener and other mid sized cities and small towns, but even then I know there’s young people who are from those places who have been squeezed out of housing.
I’m happy to see my property value go down so my kids, grand kids and nieces/nephews have a shot.
If you want your "kids grandkids nieces nephews" to "have a shot" that means somehow incentivizing families to buy homes over investors and also increasing density to accommodate everyone.
There's specific ways of doing that (taxes on multiple homeowners, non-resident homeowners) and breaking open zoning.
A crash won't matter, because the root causes still exist. Simply put the one guy who owns 50 homes and charges 3k rent for every house will always make it very expensive or impossible for the next generation. As will zoning (that is textbook government interference -- telling people what they can or can't build on the land they own).
Yes I want all those measures put in.
Higher taxes for rentals, banning ownership of more than 1 property, banning foreign buyers and increasing density.
As well as crackdowns on mortgage fraud and banning the use of HELOCs to buy additional property
Higher taxes for rentals is a terrible idea in a supply-constrained market. Because they have market power, landlords will simply raise rents to offset the tax increase. The solution is fewer people and more home building
Reforming tenancy law to ensure universal rent control could be part of the solution to this and is compatible with what you suggest (more units and tighter controls on immigration).
I’d be open to that depending on the particulars. Its easy for rent control policies to choke off investment and exacerbate a rental shortage
That's a possibility; I agree. I suspect that people disagree about what kinds of investment could be stymied by rent control. My preference would be for a mix of privately-owned and government-owned units operating under the same law and enforcement controls to at least tackle the problem of bad faith evictions and lack of supply. The challenge I see as most relevant is how to keep the units affordable and ensure that there is still incentive to build.
Or landlords could sell to people who just want to own a home.
Then we would have greater shortage of rental homes. It would merely shift the problem. More homes and slower population growth are the answers
Why would we have a shortage of homes? Partnof the problem--a large part--is that investors are hoarding and renting out homes that normal people would have bought.
Landlords who rent out single family homes are a huge part of the problem. They're not providing a service, they're fucking parasites making the affordability crisis worse.
How would new taxes solve the problem?
We have a massive housing shortage that would require half of the country's GDP to solve. And the shortage is set to get far worse.
We need smart and effective government. Clearly nobody is paying attention when it comes to immigration, the economy and home construction.
I also didn't think there's anybody currently in government who's willing to do the difficult things necessary to bring housing prices to an affordable level. Specifically: housing prices need to fall by a LOT or wages need to go up by a LOT.
I imagine it would be easier to engineer a housing price crash than to engineer significantly higher wages.
I can't see the government taxing their way to either solution.
Yeah, raising taxes won’t solve this issue. The people suggesting completely ignore the part that the government is too incompetent to actually spend the money well.
Exactly. I know many people who left for the USA. If I was able to, I’d go as well.
The solution is not taxing the rich, but taxing real estate investment, taxing primary residences, get rid of investing in property for a gain so money can be distributed elsewhere in the economy. $1m in building businesses that hire people instead of $1m in a condo goes a lot further in growing the economy.
Canada is a failed state because too much money goes to real estate. US is so much stronger because all the money is going to start-ups, new businesses, semiconductors, AI, Canada is the opposite.
The solution is not taxing the rich, but taxing real estate investment
We can absolutely tax both. Taxing the shit out of every residence after the primary to disincentivize owning multiple homes Vs taxing primary residences alone is my own preference
There is no way out of this without the profit of the rich taking a voluntary pause (not even a downturn) before the rest of us get mad enough to take it from them
The problem is, taxing the rich means you are taxing your doctors, your lawyers, the startup entrepreneurs, people actually contributing to the economy, you can’t just pick people specific people and tax them. Making more than 100k these days is considered “rich” and you get taxed at 50% basically. But 100k really does not buy much these days.
You can’t say tax the rich without also taxing regular hard working people making 100k+. The truly rich are only rich on paper, it’s not like its cash, it’s the value of their companies.
How is making over 100k rich when I make over 100k and I'm poor
Im not saying 100k is rich, im saying the government thinks you are rich because by taxing people making 100k so damn much and giving zero tax benefits.
Yes they should raise tax brackets. Tax brackets don't seem to be following inflation
They can't quite bring themselves to talk about the solution (taxing the wealthy and building public housing at scale, punitive taxation on real estate speculation)
That's simply not going to fix the problem. The fundamental problem is that housing production can't keep up with growing demand. The housing construction sector has essentially been operating at capacity for years. None of what you suggested is going to address that fundamental problem.
If the government decides to start building housing, that's going to suck productive capacity out of the private market. So yes, we'll see government-produced housing increase, but it will be offset by a reduction in privately-produced housing. The end result will not be more housing, so the supply problem won't be fixed.
Leaving aside the practical issues of trying to tax real estate "speculation" (e.g., how exactly are you going to legally define the difference between real estate "buying" and real estate "speculation"?), again, it will not increase the supply of housing, so it will not solve the fundamental problem.
There is no quick fix here. Building more capacity in the housing construction sector is going to take time. The government has a role to play there in encouraging growth in that sector and looking for ways to reduce barriers to entry. Immigration policies could actually be helpful here, as we could target immigrants who have experience in construction in their home countries, and then implement training programs to get them up to speed on our building codes and standards. But again, this is all going to take time.
It's "the" solution if one can not do basic arithmetic.
The housing construction sector has essentially been operating at capacity for years
That's problem with an easy solution: invest in more capacity. Trades programs, infrastructure, favourable grants and loans to startups building housing.
Of course, those cost money, lots of it. And printing money and selling bonds won't be doable at scale needed without poor fiscal consequences, so taxation is also needed.
Tax the piss out of the real estate trading that's made relatively few people rich while providing society no productive goods or services.
That's problem with an easy solution: invest in more capacity. Trades programs, infrastructure, favourable grants and loans to startups building housing.
Certainly these kinds of policies, if done right, could be quite helpful, and I'm all for them. But we must remember that even if we could start implementing them tomorrow, it will likely be years before we reap the rewards.
Who do think controls supply? Hint: it's not poor people.
We stopped building public housing in favour of tax cuts and grants to the wealthy just at the same time housing affordability started to run away.
Developers are not going to build affordable housing without massive bribes, and the current scarcity suits the wealthy just fine. We need to readjust the playing field a little.
"Affordable housing" is a bit of a misnomer.
The market dictates the affordability and if there is limited supply with high demand - it is not going to be affordable.
Are you kidding?
The solution is a stop to uncontrolled immigration. It tilts the scale on supply/demand for housing, healthcare, wages-- you name it.
Sad to see people ignore that, happy to be down voted.
More taxes won't fix the problem. We have about 1 million more people here than should be right now and they keep importing more. There was an article the other day saying Canada brought in 400k more immigrants since January, with 100k in April alone.
We hate to say it, but the government needs to send a shit ton home and close these PR loops they created during covid.
Heeyyyy I'm not sure this sort of nuance has any place here, this is reddit
The worse supporters of this debacle are not the right, but the woke NDP and Liberals. However, you are correct that the banks such as BoM have been giving money to the Century Initiative, and they need to be held accountable for the damage they have caused. Anybody involved in the Century Initiative should be held civilly liable for the damage to the country. https://www.reddit.com/r/CanadaHousing2/comments/16ihasv/a_community_deep_dive_into_century_initiative/
Right wingers support the century initiative bud
There are a number of conservative provincial governments that need to be held accountable for supporting immigration levels that are detrimental to Canadians and permanent residents. However, the most damage is being done by the Liberal/NDP government that actually decides immigration levels. The reason I say the left is supporting this not the right, is because when I talk to hardcore NDP and Liberal supporters they agree with the current immigration levels and what the government is doing. When I talk to conservative supporters they are against these immigration levels despite their provincial conservative governments supporting them (although at least in PEI that seems to be changing). Having said that some people on the left are starting to realize that these immigration levels are only suppressing wages for the working class.
You've fallen for the propaganda hook line and sinker lol
You have to be more specific, which propaganda have I fallen for?
Conservative party voters may speak out against immigration, but what do the party members actually vote for and support is a different issue entirely...
Also Canada is caught in a demographic crisis, 20% of our workforce is set to retire in the next 10 years, so we either:
-Reduce services like healthcare or OAS (very unpopular) -increase taxes (also unpopular) -increase workforce via immigration
Choose your poison.
One in twenty immigrants is 65 years or older when they come to Canada, so immigration is not going to solve the aging population problem, and raising the retirement age even a year or two would have much more of an impact for that issue. I agree PP has been very quiet about his policies around immigration and that is worrisome (although I can't see how it can get any worse than what Trudeau and Marc Miller are currently doing) . I don't want to come across as anti-immigrant, I don't blame them, it is the ridiculous levels of immigration into Canada well beyond what the country can support and that is the government's fault, not the immigrants.
So, you stop immigration. And instead of letting our aging workforce retire, you increase the retirement age. Gotcha. Great solution. What happens after that? You've just delayed the problem. They're still going to retire.
Let's remove retirement altogether! Problem solved! /S
Yes, people work one year longer so that the younger generation of Canadians can afford to have houses, food, and children.
Oh wait the Liberal/NDP have already dealt with this by replacing Canadians with cheap third world labor and solving both the non-existent labor shortage and the problem of younger Canadians ever having a future.
Yo we are literally transforming into a feudal economy. If you didn’t get in to housing before 2021 sorry boyo but your a SERF now. VOTE HARDER NEXT TIME!
Are these the same economists who always get a bee in their bonnet about rent controls?
All going according to plan…
Captain Obvious was working on all one cylinder to reach that conclusion
Worst is yet to come, wait until summer 2025 rolls around to see how fucked this country really is.
Utter insanity. Pointless complaining about housing costs, declining GDP per capita, or inflation. The Feds are solely responsible and doing it purpose at this point.
no shit lol
Economists! Oh boy well we're in for some facts then
Economists truly suck. Their predictions are almost always off, and they point out obvious stuff way after the fact.
Thanks for nothing.
We need to stop bringing in more and start sending back the surplus. No more PR until shit gets straightened away
Rich people taking a haircut is actually worse. They will take their businesses and economic benefits to another country. Let alone at the rate Canada taxes people above 100k, Canadians are already overtaxed. 100k is not even that much money these days in comparison to cost of living but everyone above 100k is basically already taxed close to 50% which is insane and get no tax benefits because they are not considered “low income”.
The government is suppose to create a stronger economy with higher paying jobs, but taxing those that help to create them and drive them away.
Everyone always goes to tax the rich, but is that really going to solve the Countries economic problems? There are bigger issues here and driving away private investment is not necessarily the best solution.
The taxes paid by a high income earning doctor probably covers the taxes paid by 100s of low income immigrants claiming tax benefits. Taxing people like doctors and high earning professionals won’t solve the countries problems it will make it worse because we are losing talent.
This is the problem, everyone seems to think taxing the rich solves all the problems. Not sure why people are downvoting, you want to tax your doctors, your lawyers, and hardworking Canadians that are “high income” but in reality after taxes it’s not like these “high income” people are rich when you factor in the cost of living. These people are the ones that actually pay the most taxes in the Country and continuing with this concept of taxing your doctors and high earners is just going to make things worse. Why would a doctor stay in Canada, work insane hours in an emergency room, get taxed insanely high when they can easily hop across to border and make 10x that. We are driving away the smartest people in the country, these people can easily leave if they wanted to. All it takes is one bad policy decision.
Let’s be real, importing 100s of thousands of low skilled workers creates no benefit. But losing hundreds of doctors by taxing them just because they are smart and helping society? My cousin is a doctor in the ER, he works day and night, never imagined leaving Canada, but these days he’s considering it and most likely will. Population growth has made ERs overflow, he’a being taxed more and more every year, housing is more and more expensive, there is absolutely zero benefits to him because he is considered “high income” ask yourself, why would you ever stay when you see the Country getting worse and worse everyday.
Couldn’t agree more. The rich are rich for a reason. Taxing them more just means they will take their enormous companies elsewhere and so will the jobs.
Taxing the rich is optics, does not actually solve the real problems with the economy.
You think Canadians monopolies are going to uproot and take their wealth elsewhere? They wouldn't survive a year in a different market. I agree with what you say about individuals and professionals, but Rogers, Bell, and the other oligopolies are absolutely contributing to our cost of living problems and we can at least stop giving them massive grants from our taxes.
For the record, I don't think taxes are a silver bullet here either.
Oh they won’t they will just get the best accountant to defer their taxes and then when they retire, uproot and never end up paying taxes. But let’s be real monopolies only make up a small portion of people and taxing them won’t affect the housing market for make a big enough impact, but raising taxes for them inadvertently raises taxes to your start-up CEOs, your doctors, your lawyers, your small business owners that have above average income, why make a start-up in Canada and employ people when they can base themselves elsewhere.
So comes back to the point, taxing rich does nothing, the rich will never let the money leave lol.
Don’t forget, just because their monopolies don’t leave does not mean their other investments won’t. They don’t just invest in their economy, they invest in start-ups they create new companies, their wealth is not just used on one business. You really think monopoly owners only have one company?
They don’t just invest in their economy, they invest in start-ups they create new companies, their wealth is not just used on one business.
Our abysmal record of R&D investment shows they really don't.
Our oligopolies are a huge problem. They have no incentive to innovate, or invest in capital that could help prop up our similarily abysmal productivity rates. If we were more productive, we wouldn't be so reliant on immigration.
Creating a tax system where they would be incentivized to invest in R&D, vs things like stock-buy backs, could certainly help.
We also need to guard against their capture of our regulatory bodies, which in turn weakens our ability to counteract the anti-competitive industry consolidation we've been suffering from for ages.
With more competition, and more R&D, we would have other options for investing beyond the housing market.
"Our nation has long struggled with below-average entrepreneurship rates, low business entry and exit rates, stifled innovation and high consumer prices. A key cause of these trends is industry concentration from decades of unchallenged merger waves. A nation of oligopolies, many Canadian sectors are now dominated by only a handful of players – from banks and telecoms to funeral services and self-storage. Unfortunately, industry concentration is only worsening."
https://policyoptions.irpp.org/magazines/february-2022/competition-hurts-innovation-canada/
Canada is a weak performer on R&D. It gets a “D” grade and ranks 15th out of 16 peer nations. Moreover, Canada has been a “D” performer since the 1980s. Although Canadian businesses projected R&D spending of $15.6 billion in 2011, as a group they spend much less than international peers.
You know why investment is so low? Because the government does not incentivize them to do so. They choose to promote tax free investment in property and real estate, why invest $1m in a business when you can invest $1m in a property and make loads of money without every hiring people. That is the problem, investment is low because there is no incentive to do so. The US gives tax breaks for companies to build factories in their state, again we have an abysmal record of r&d investment because everything is already TOO expensive. Why do your r&d in Canada, there are better countries to do your r&d, to increase r&d, you need to convince the rich to do it, but taxing them is definitely not the correct way to get them to invest in r&d. better to tell them, hey i’ll tax you less but use your money here and you will make more instead of being taxed.
Its about taking steps to improve r&d spend and to do that you need to promote it to the rich, the simple answer is Canada has no clue on how to become an economic powerhouse. Just keep taxing everyone and importing immigrants that will solve all your problems.
Because the government does not incentivize them to do so. They choose to promote tax free investment in property.
I included that already in my post, but come on man, it's a well accepted principle of economics - oligopolies block new entrants, slow innovation, and increase prices, all of which harm consumers.
Yeah but the reality is, you are chasing a dream to ruin Canadian oligopolies, they are here to stay and will remain here for decades to come there is a reason for this. If you can’t beat the enemy, join them. I hate them as much as you but we are peasants, the only way is to introduce foreign competition, and to do so we need to make the investment environment favorable for everyone. That means not taxing everyone, but opening up. Taxing oligopolies also means taxing their competitors. Why did AT&T come in and leave? Why did target come in and leave? The government gave them all zero incentive to stay.
opening up.
We have too small of a population spread over too much landmass to make our market attractive enough to foreign investment. Plus, with the market and regulatory power they have, they block it. I've worked in both of our large oligopolies. I've also worked for one of the last large US retailers who tried to make an entry, and subsequently left because it was too much trouble, for too little benefit.
Additionally, if we look at the US most recently, Trump's tax cuts for corporations and and those at the top were pretty much a total failure.
- The debt ballooned
- There was no associated economic growth
- Corporations bought back stock instead of creating more jobs of investing in capital, or merged / got more consolidated (in fact, the top six American banks, who saved more than $32 billion in taxes during the two years after enactment of the tax cut, actually reduced lending and cut jobs).
There is no perfect solution, but taxing the rich is for sure not the solution.
taxing the rich is for sure not the solution.
How do we know this?
"Analysts who rely on neoclassical models argue that there are large trade-offs between having a strongly progressive tax system and economic growth. But this theoretical trade-off is not apparent in the economic literature. Over time, there has been no obvious relationship between U.S. economic growth and the top marginal rate applied to individuals’ regular income."
To perhaps bring some additional nuance to this, the truth of the matter may be that we need to widen our lense, and not so inordinately put all of our eggs in the tax bucket, and not only look at GDP.
"This issue brief shows that while tax changes can have large effects on the U.S. economy, they have not noticeably affected overall economic growth or corporate investment in recent decades. Instead, the research and data firmly establish that the main effects of tax changes are to increase or decrease inequality and government revenue."
https://equitablegrowth.org/the-relationship-between-taxation-and-u-s-economic-growth/
I think I did some editing while you were writing. In any case, I understand that they're deeply embedded in our economy, not just within a single company. I still think they can take a haircut. It doesn't have to be a far-reaching tax increase either, we can just stop permitting them access to government funds and favours, only for them to screw us over.
There are better solutions because taxing them essentially means you are taxing other important individuals like doctors, hard working entrepreneurs, etc. when you say tax the monopoly owners, theres no real way of doing that unless you say anybody who makes more than $300k or $400k or something like that but in reality thats the same range as doctors. If you say anybody making $1m dollars or more, sure, but let’s be real the rogers, loblaws, etc families are not stupid enough to report that much income unless they need to, all they have to do is have their family members all make $200k+ and they get taxed less. So in reality your point on taxing the rich inadvertently just taxes everyone else and not just monopoly owners. It won’t make a difference because all their money is in stock and as long as they don’t sell stock or put everything in a trust, taxing the rich is only optics, reality it has no impact.
The better solution is economic growth, not tax burdens. Ask yourself, why can companies like tesla have gigafactories in the US, why is AI development in the US, why are all these industries thriving there, but Canada has all this land, all these people, all educated, but has nothing to show for it? Why are the smartest graduates in the country all working for American companies and not Canadian? This is the true problem, not chasing the billionaire hiding his money because he will do that no matter what you do. You are better off letting them invest in the country than hide the money. Why not have the billionaire build an enormous car factory with $1b instead of taxing them? Taxing them just means the government is going to give it all away to wars and refugees, not investing in their own country.
The fundamental problem is that even if you tax the rich more the Trudeau government is not using the tax money effectively to do ANYTHING. So taxing the rich again just goes to waste.
The government should be incentivizing the rich to grow the economy not take from it. Sure tax the rich $100m dollars, but where does that money go? To useless initiatives the government is throwing out there. Why not go to the rich, hey, heres a break now use that $100m and build an enormous factory and create 10s of thousands of jobs. U want rogers to create more jobs? Easy do the opposite of taxing them and give them incentive to do so. That is capitalism, there is a reason why the Canadian economy will always be weak because we always think tax is the solution.
I can’t agree enough. Taxes are really high in Canada, specially for high net earners.
They really aren't compared to other developed countries with social services.
Become Trump and close the border completely for a year or two and let the problem fix itself.
Isolationism wont help.
Never listen to Economists. They are usually already behind in the analysis and wrong in the predictions.
It’s become pretty obvious the government doesn’t care about Canadians. Something has to change I hope it’s soon. Never wanted to leave Canada until this past year
Why haven't mods shut this thread down? Incredibly xenophobic
Point me to one comment that’s xenophobic. People aren’t blaming immigrants. They’re blaming mass immigration that’s there to suppress wages and raise rent and housing prices
We’re allowed to complain about mass immigration. It’s a political opinion or are we censoring those now as well?
I'm brown. What's xenophobic in this thread?
This thread is pretty tame compared to others (so far)
We know economists, welcome to the conversation.