Sales in Toronto reached a record 15,652 last month, up 97 per cent from 7,945 during the same time last year.
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If the Canadian government would stop mass immigration and limit foreign ownership to 49% this problem would be over in a day.
@juliette Irene yeah, I guess that’s why they are buying luxury homes
@MrPitbull And driving up the largest real estate overvaluation in the world. It could all be changed with the stoke of a pen.
@MrPitbull There are Canadian cities full of ghettos. They aren’t all buying “luxury homes”.
It’s the foreign ownership that I have an issue or a hundred with. THAT is the problem with all of this rental price hikes. The landlords don’t live here at all. You can’t talk to them about issues in your building and you cannot prevent rent hikes. That has to stop asap.
@Maureen Wagg 100%
Stop just reporting on this like its gossip, push the govt to do something!!?!
How?
Inflation from mass money printing…this is just the beginning
I see you get it
@Garry Shearer No he doesn’t.
hyper inflation will make the home prices of today very cheap in 10 to 15 years.
Or deflation will push prices down.!!
@Heather Dequetteville A correction may happen but the trend is always up.
@Heather Dequetteville waiting for that moment for 15 years already…
Here’s hoping.
It’s obvious That it Has to be Doug Shutdown Ford’s amazing economic goals of eventually to have no Small Businesses
watched this working from home in sweatpants
Ugh another one of these reports 😏 is the govts attitude to just wait and see cause that’s going to not work.
Corruption
INFLATION
Build a wall fence on around Canada border
American pay for it.
The Xiden administration is considering continuing the border wall project
Selling your Home? Try moving to another Province, impossible!
90% of the country is not liveable
The Mayor of Vancouver I think is the one in lower mainland that understands the situation and tried to do something about it. Making it illegal to put on Airbnb your entire unit, and going after those who kept doing it and the effect was quick. But it has to be done by all the cities in lower mainland, or let’s have the same law on Airbnb nationwide and make it illegal to use residential units as a hotel. I don’t buy the excuse it’s helping a home owner to afford their mortgage, when it’s the cause for prices to triple in five years in some areas in lower mainland. The highest new building boom in USA two years ago was Seattle it had 60 Cranes on the sky, lower mainland had around 250 then and we still going strong so it’s not supply shortage but who is buying and holding them away from rentals as well.
I agree on million to infinity percent and beyond. Ban AirBnB.
🤮🤮🤮
Get in the real estate marketing while you still can.
Even if it goes up 3 4 5 millions dollars no thanks.
Paying for your commute to work and paying for day care!…. I know cannabis is legal, but smoke another one!…lol
Oh, Harper government, oh Trudeau government, oh BOC, what have you done, ruined the future of Canada!
The title is misleading. these two clown anchors mention absolutely nothing about the “why”
😂🤣😂🤣😂🤣
Were in the weimar republic at this point
Our government officials are incompetents and sleeping at the wheel. At this point they are either complicit or complete fool. How can they let this happen. It really depressing to see how powerless we are, no matter who we vote for we are always screwed.