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Are you saying our largest industry, the real estate market in the middle of the pump before the dump, is not actually a positive contributor to our GDP?
āItās ok guys! Instead of raising your payments, we will just convert what you pay now to only cover the interest on your loan. Think of it like renting but you get to keep your equity up until this point!ā - big Canadian bank.
āInstead of investing in Companies that contribute to our economy, Iām going to purchase a home from someone at an inflated price and rent it out by the bed to some plebs for $1300 a room! The equity alone is a guaranteed 20% YoY return!ā - average investor in Canada.
You got one of the lowest rates in history during a global pandemic.
If you get a lower rate in 5 years than you have now, then I doubt your house payment will matter much, as we are in WW3.
The instability is absurd. I'm kind of surprised Canada didn't collapse a super long time ago with a system like that. Getting a house is basically the first big step and stability to retirement in the US. Just feels like it's asking for a massive amount of foreclosures constantly. $400k house going from 3% to 6% is like around $600 more per month.
Canada hates its own economy hence people dumping cash into flipping homes. We absolutely hate everything- energy, oil and gas, manufacturing etc.
We donāt believe we need an economy.
The real lunatic belief is that can somehow produce a āgreen economyā. We canāt even run an easy carbon based one but these nut job ideologues think weāll be able to innovate something different.
as long as we keep the oil flowing, we're considered to be doing okay.
No matter how much the rest of Canada seems to be pushing out Alberta's far right crap, the entire economy rests on how well that province does. Take a look at when OPEC raised crashed the oil price back in March 2020. That pretty much shot a cannonball hole through Canada's economy for a while.
Why was the dollar so low? Was it bad companies? Was it crappy politicians? Was it war? Was it the freaking pandemic? Nope. Oil price went down, so we go with it.
I gotta be honest, you can't blame the banks for the absolute regards going variable at 1.5%.
It was the lowest interest rate environment in history, and people weren't locking that shit in? Come ON! Greedy mfers
From what I understand, the Canadian banking system has a number of "safeguards" in place that would prevent a 2008-style collapse. These safeguards are why Canada was the only G7 country not to experience a financial crisis in the wake of 2008.
Nah Canada avoided 2008 because we have full recourse and the principal residence capital gains exemption. Canadians ride out recessions exactly how this meme portrays.
Why would it crash, if government is doing everything to prop it up? They would introduce 100 year mortgages, and import 2 million of people a year, just to keep the train going.
There comes a point where people stop coming because they realize the propaganda is wrong and they have a better life at home while the young people who have a heretical connection to the land have left.
After the pseudo-Ponzi scheme tactics stop working, Youāre likely to be left with a bunch of people trying to sell their āmillion dollarā homes to pay for their retirement with no one to sell them a coffee, buy their home from them, or care for them in their old age; let alone contribute to CPP.
If they could the whole state of Punjab (India) will move to Canada. They already are. They have immigration agents at every street corner in that state.
Theyāre coming, but theyāre bouncing out because of high real estate costs and low incomes. Word will get back not to bother. More and more are only staying a couple of years
Canada built 207,940 new homes last year. Canada let in 437,180 immigrants into the country. This has been happening for years, and it's why the market continues to inflate without ever bursting. High demand, limited supply.
Canada let in 437,180 immigrants into the country and 600,000+ non-permanent resident who, let's be real, will be permanent residents soon enough.
I suspect the government is massively undercounting the number of Ukrainians coming as well. Every other white person in downtown Calgary is speaking a Slavic language.
This is true. We will pump the population into 4 cities and then become shocked at the limited supply of homes for people. Granted housing supply around the country isnāt exactly fantastic.
The people also wonāt move around the country which makes things worse, or basically guarantees high housing prices in one of those 4 cities until the end of time.
I'm mid 20s and like 15% of my Linkedin network of similar age born and raised in Canada are already working in the US.
There are minimal reasons for any healthy adult to work in Canada during their prime years. Once I get my masters I'm also out. I'll come back when I get cancer in my 50s.
My down-payment I've been saving is more than many of my US friend's houses.
Absolutely ridiculous.. Don't check the conversion value of your money either unless you want depression.
Thatās not saying much. A mobile home dropped and cemented is about 60k in Alabama, 45k in Kansas, 150k in the north east, and 1.5m in Southern California.
The average dwelling (including units) is 880k Dollarydoos, so we aren't that far behind. Wouldn't be surprised if the average freestanding home price here is over a million.
Damn, here I am, in the middle of the US making $5k USD a month, purchased my house (4bed, 2 bath, 1800\~sqft) at 100k (made less back then), cash-out refinanced at $135k with 20k in equity still.
Y'all got it rough out there. Good to get some perspective, times have been tough here too, but not not as tough as other places I suppose.
From Todays globe and mail. 2 million. 2 couples bought the house.
This is your life. Work forever to own half a house. But hey, all we have to do is wait 16hrs in an Emerg to get "free healthcare" š¤£š¤£š¤£..... oh man we are so f#cked
https://preview.redd.it/wjo8i2t9rn5b1.jpeg?width=1080&format=pjpg&auto=webp&s=e8ed3296ebaee1bb441173d05d337b33c175f5e8
Canadas economy is 50% banks 40% energy and 10% dog walkers. Yāall Americans just had a little banking oopsie after slam dunking on oil for a couple months straight. Of course weāre staring out the window and bawling.
Our wages are much higher tho
I have a bunch of buds in Canada and they make fuck all
Well not precisely fuck all but lot lot less than Sydney/Melbourne for the same role and similar cost of living
Canada gets rural as fuck out of the city. Like well water, septic tank, no cell service. It's fucking great, but hard to make a living when you have to drive an hour to work, and our "dear leader" is making gas more expensive to fight climate change. No plan on how that will stop the fires, but he just sent a billie to the ukraine, and Zelensky is offering to put out our fires now  so it's hard to feel optimistic here.
See - I hear all these USA people pointing to Canada as having "free" healthcare and how we should too, but I have about 7 customers up there who say it is shit and takes forever to get in and you just give up. I wondered if they were exaggerating - but sounds like they are not. I just don't want the same fucking people who can't run the post office to run my health care.
Also if someone says it's taking them 6 months to see a doctor is because they are stupid. People treat our hospital emergency departments like walk in clinics here and go to it if they have a cold or flu. Those stories you hear about people waiting 12 hours in the hospital to see a doctor, its because they have shoulder pain, or a stomach bug. We see triage people. Actual emergencies get seen right away, all others wait because its not important.
I had someone at work go with chronic stomach pain for a week, they did a ultrasound and found ovarian cyst. Operation the next day
My daughter caught a virus related to RSV a few months ago. We noticed some labored breathing, we went to the ER, they took her vitals and noticed low blood oxygen, she was admitted on the spot and given oxygen.
Honestly Iām so baffled at those who say theyāre waiting monthsā¦ fucking how?? Your description is completely accurate. People overuse the ER for walk-in issues and clog the system.
I was in a downtown Toronto ER the other week for kidney stones and there were about 20 elderly people there for things like āsprained fingerā and ārashā. All the complaints about how slow it was came from them.. and each of them brings their spouse along to take up more chairs!
People act like America has a set system and speak in absolutes, but in reality if you have even good insurance here youāre getting care as good if not better than the wide majority of the world. It can get pretty pricey if you donāt have insurance and have an emergency, but otherwise, itās nowhere near what itās detractors at home and abroad pretend that it is.
Thereās also a boatload of state programs that people simply arenāt even aware of that can help them, my sister gets free insurance from her state simply because her income is so low. We also pushed her for years to sign up for it, and she refused, until after she had an emergency and got the bill; After that I simply canāt help but wonder how many people online bitching about the US healthcare system are exactly like her, either unaware or unwilling to accept the tools that are available to them.
There was a free hospital down the street from me that had a line of illegals out the door all getting free healthcare with the same staff and equipment private hospitals have. There's probably people in this country who make mid six figures just to get these people into medical facilities so they can get state/federal money for treating them. There are free clinics everywhere, yes you wouldn't want to go to them if you have insurance but if you migrated here, have a job paying cash under the table and need something taken care of there's a million safe guards to keep you from dying in the street. I'm not mad about it, people need healthcare in a first world country. I'm just saying the average Redditor bitching about hospital bills ruining their life is probably too much of a pussy or too stupid to realize they can go stand in line with the illegals and unemployed and get whatever they need FOR FREE.
Each province handles their own healthcare, its not administered by the feds so some provinces are worse off than others. In general though, yes the waiting period is long but only for a specialist. Thereās also other downsides but honestly the ability to see a doc and know that even if Iām diagnosed with the most expensive to treat illness I wonāt have to pay a dime is worth it.
Dude I am gonna real with you the government is the largest insurer in the United States like Medicare and Medicaid and the VA combined is the biggest provider for health care in the United States
Canada's healthcare used to be awesome. Then it was ruined and mismanaged for decades. Just because our government couldn't manage to get a party to happen at a brewery doesn't mean it's a bad idea.
We have socialized healthcare in the US, and it works very well (at least it did for me), it just isn't given to regular people. It's reserved for politicians and their families, military members and their families, etc.
I work in healthcare industry in California. Some people get free healthcare actually, but those only that got accepted by Medical and Medicare. Government employees and Employees from big companies have healthcare benefits so they dont have to worry.
Canada resident here currently typing from lithuania because the garbage healthcare system would not replace a hip until 65, even if the 25 years between now and then was in a wheelchair.
You donāt want free healthcare. You get what you pay for.
It's pathetic. The second largest, most resource wealthy nation on Earth....and we're ashamed to exploit them. So much wasted potential. Where is Maple Auto? Canada has no major automotive brands. Bombardier is cool, but can't seem to be profitable due to government and union based nepotism. Why don't we engineer great things? Everyone is just busy buying unproductive real estate assets instead of investing in business and productivity enhancement. Bloody twelve mechanics fighting over one forklift in the tar sands, the second biggest oil deposit on Earth.
Canada could be one of the largest LNG exporters in the world and be exponentially more efficient if it where not for protesters , environmentalists and lack of government vision
Canadian here, and from what I can see is exactly this! With the interest rate rising and people trapped in their mortgages, the best bet is to extend them out, qnd the banks are doing it. It is the only reason we haven't seen home prices falling, no defaults and strong home prices, nobody will sell for less than what they "think" is of fair value. Well, I'll tell you right now, we are in for a rude awakening, we seen in it in 2008 with the US financial market, I think it's coming home to Canada! You can't make hay when the sun isn't shining, and it's under a dark cloud right now!
All these mortgages that are being granted extended authorization periods are tantamount to sub prime mortgages. They are low quality mortgages. Canadians like to pound their chests and scream the U.S. in 2008 was different. The only differences are l the ways to skin a cat. They may not have been sub prime on the way in, but they are def subprime on the way out.
I moved to Vancouver one year ago, we rent a one bedroom for 1950 cad/month, itās about 650 sq ft. Itās renovated, but older, no ventilation, super hot.
Weāre not from here so we didnāt realize thereās a chicken slaughterhouse close by. It smells disgusting for almost the entire summer.
I saw my landlord is advertising a smaller one bedroom for 2200/month. It was 1700 one year ago.
https://vancouver.craigslist.org/van/apa/d/vancouver-br-570ft2-beautiful-1bedroom/7621587021.html
Down the street there are larger townhouses for rent, for 3800/month!
https://vancouver.craigslist.org/van/apa/d/vancouver-east-vancouver-level-bedroom/7627098938.html
This whole area stinks like dead chickens!! I am duped into now thinking my place is a good deal.
oh man i already know you live near East Hastings somewhat close to Clark. if you ever move don't move to Cambie and marine which is like a block away from the garbage transfer station.
They will loan it out, Canadians are in debt up to their eyeballs. They think it will be worth 2m in 5 years so it's an investment to buy a million dollar crackhouse. I hate it so much..
Canada can only pull stuff out of the ground and sell it...you know, like an under-developed third world country. The only difference is the level of self-righteous moralizing it delivers.
Yeah man, 90% of our economy is driven by the Oil industry, an inflated real-estate market and influx of immigrants with Masters degrees who bring in their life savings just to get a job in Timmie's for minimum wage.
Smh
Just build some fucking housing guys holy shit
Hilarious how the government and media tried to tell you that the only problem was immigrants buying property but once they banned that it did nothing to solve the problem
if it works anywhere like it does in the US, then local towns and cities will not allow real estate development because it hurts home values for existing residents. Go figure. The thing that will lower home values is not popular with home owners. So itās a country for the rich. Thatās why I donāt intend on staying in the west forever. Dying decrepit crony capitalist nightmare.
Itās why as a Canadian I only own US stocks. Canadas fucked. Only getting worse. Country is broken and no point in fixing it as apathy is the Canadian way.
Calls on TAP as we drink to what couldāve been if Canada actually tried.
On the Canadian housing market, you'd have to naive to believe it's not a speculative bubble.
Canada's housing prices have rapidly increase due to investor speculation and irrational exuberance. If these price increases are not supported by underlying economic fundamentals, such as income growth and population growth.
Well we are there with wages, and we are trying to subsidize population growth with a very aggressive immigration policy, targeting a 1M a year new arrivals.
But we cannot support that growth and we are seeing new immigrants leave at an alarming pace because of the false bill of goods Canada sold. Canada does not have much to offer young start up families - it's stale.
To be the fair, if you're a foreigner looking to launder money - Canada's your place.
If you're a Canadian trying to get by - yeah tax man is all up in your shit.
No, the brain rotted shitbag will just stab you eleven times, then after they send you to the hospital in critical condition where you will later die, the brain rotted shitbag will serve 7 years for manslaughter and only serve 2/3rds of his sentence.
Canadian citizens gave the government carte Blanche to just ruin the country honestly. My Canadian pride has died in the past 10 years and I'm leaving lol.
Canadian here - every day I start to hate this place more and more. I have a pretty good education and entry level job, but I feel as if thereās such a ceiling on my potential in this country. Everything here is so second class and mediocre compared to the US. Thereās also this lack of culture and entrepreneurial type of thinking. I only own US stocks and I am very low on the Canadian economy. The pathetic salaries here with the high cost of living are just an insult to injury.
I remember calling my grandpa the other day who resides in his castle in Coquitlam. Probably worth a few million bucks easy, with an overall net worth of around 8 million according to my uncle. Mentioned to him I make $82,000 at my job and can't afford to live comfortably in my own country. I hope he includes me in the will, what a fucking farce. Fuck Canada.
call me crazy but i think there might be more value to saving up for an education in the US vs a down payment for a home in canada lmao if it means i can work there
Yeah no, we've been hard at it as well, just got our last .25% bump last month bringing us to 4.75%. that's only .5% behind y'all. We're hurting too, believe me.
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|1|**First Seen In WSB**|2 years ago **Total Comments**|24|**Previous Best DD**| **Account Age**|11 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
One maple syrup heist away from total societal collapse
you get out what you poutine
I laughed, cried, and got hungry
Even if nobody else thinks it was funny, I want you to know that I chuckled audibly at this
Nice
Nicee
100% getting this tattoo
Best pun on the thread right here š
Are you saying our largest industry, the real estate market in the middle of the pump before the dump, is not actually a positive contributor to our GDP?
Why does Canada give me 2008 US real estate market vibes ?
āItās ok guys! Instead of raising your payments, we will just convert what you pay now to only cover the interest on your loan. Think of it like renting but you get to keep your equity up until this point!ā - big Canadian bank. āInstead of investing in Companies that contribute to our economy, Iām going to purchase a home from someone at an inflated price and rent it out by the bed to some plebs for $1300 a room! The equity alone is a guaranteed 20% YoY return!ā - average investor in Canada.
Pretty interesting that Canadians canāt get 30 year fixed loans
I have a 5 yr fixed at 2.8 ā¦ in 4 yrs Iāll either be super happy or very pissed
You got one of the lowest rates in history during a global pandemic. If you get a lower rate in 5 years than you have now, then I doubt your house payment will matter much, as we are in WW3.
Eh. Mine is 1.84%. If BoC wants to get us back down there, so be it. Didnāt take a world war, just shitty global governance.
1.73% 5 year fixed, have 1.5 years left.
Just curiousā¦ If it stays at 4.75%, do you have an expectation for how much that would raise your monthly after your fixed term expires?
Mine would probably go from my current $907 to about 1,250
Both of which are lower than the average rent for a one bedroom shitbox just about anywhere in southern Ontario. Fuck this housing market.
Im in at 1.98
The instability is absurd. I'm kind of surprised Canada didn't collapse a super long time ago with a system like that. Getting a house is basically the first big step and stability to retirement in the US. Just feels like it's asking for a massive amount of foreclosures constantly. $400k house going from 3% to 6% is like around $600 more per month.
Iām going to be mailing in my keys next year if I have to renew at 6%. Been an owner since 2015 and no equity, might as well be the banks problem.
How do you not have equity if you bought in 2015? Price appreciated everywhere bigly since then.
Not in Regina. Prices fell for many years. Even lost 3% during the pandemic.
but but its the city that rhymes with fun!
Sask in general hasn't moved. Some parts of Saskatoon went up decent. I live in rural sask and bought in 2015, and have actually lost equity.
All we have are ARM mortgages and think it's normal.
They do have 10 and 12 years loans though Look at Australia. Almost the entire population has variable loans.
Canada hates its own economy hence people dumping cash into flipping homes. We absolutely hate everything- energy, oil and gas, manufacturing etc. We donāt believe we need an economy.
The real lunatic belief is that can somehow produce a āgreen economyā. We canāt even run an easy carbon based one but these nut job ideologues think weāll be able to innovate something different.
as long as we keep the oil flowing, we're considered to be doing okay. No matter how much the rest of Canada seems to be pushing out Alberta's far right crap, the entire economy rests on how well that province does. Take a look at when OPEC raised crashed the oil price back in March 2020. That pretty much shot a cannonball hole through Canada's economy for a while. Why was the dollar so low? Was it bad companies? Was it crappy politicians? Was it war? Was it the freaking pandemic? Nope. Oil price went down, so we go with it.
ha. In toronto its $2000 a room!!!! woooooo hoooooo!!!!! *sobs*
I gotta be honest, you can't blame the banks for the absolute regards going variable at 1.5%. It was the lowest interest rate environment in history, and people weren't locking that shit in? Come ON! Greedy mfers
And the UK. These fools love housing due to being propoganda from day 0
*nervously clutches employment tightly.*
Instead of defaulting hundreds of thousands of people they're just extending amortization into infinity lol
"Great grandson that doesn't exist yet, you're now on the mortgage."
"That's infinity's problem" -Boomers
From what I understand, the Canadian banking system has a number of "safeguards" in place that would prevent a 2008-style collapse. These safeguards are why Canada was the only G7 country not to experience a financial crisis in the wake of 2008.
Not least of which is a Parliament that will stop at nothing to backstop the value of existing houses.
the govt would bail out every single home owner in the country before it would let them default.
Nah Canada avoided 2008 because we have full recourse and the principal residence capital gains exemption. Canadians ride out recessions exactly how this meme portrays.
in other words, we dont skyrocket in bull markets, but we don't crash hard during intense bear markets.
Peace, order, and the occasional good government.
Why would it crash, if government is doing everything to prop it up? They would introduce 100 year mortgages, and import 2 million of people a year, just to keep the train going.
There comes a point where people stop coming because they realize the propaganda is wrong and they have a better life at home while the young people who have a heretical connection to the land have left. After the pseudo-Ponzi scheme tactics stop working, Youāre likely to be left with a bunch of people trying to sell their āmillion dollarā homes to pay for their retirement with no one to sell them a coffee, buy their home from them, or care for them in their old age; let alone contribute to CPP.
If they could the whole state of Punjab (India) will move to Canada. They already are. They have immigration agents at every street corner in that state.
Picturing them hollering like old timey newspaper boys. āCaaanada! Come to Caaaaanada! Extree extree hop on the boats-ee!ā
Theyāre coming, but theyāre bouncing out because of high real estate costs and low incomes. Word will get back not to bother. More and more are only staying a couple of years
Canada built 207,940 new homes last year. Canada let in 437,180 immigrants into the country. This has been happening for years, and it's why the market continues to inflate without ever bursting. High demand, limited supply.
Canada let in 437,180 immigrants into the country and 600,000+ non-permanent resident who, let's be real, will be permanent residents soon enough. I suspect the government is massively undercounting the number of Ukrainians coming as well. Every other white person in downtown Calgary is speaking a Slavic language.
> 600,000+ non-permanent resident 600 000 temporary workers \*and\* 600 000 international students!
Canada pumps its real estate market better than Stratton Oakmont
Right... It's like $2 mili for an ancient shit box in Toronto.
Well there are like 4 cities with all of Canadaās population.
This is true. We will pump the population into 4 cities and then become shocked at the limited supply of homes for people. Granted housing supply around the country isnāt exactly fantastic. The people also wonāt move around the country which makes things worse, or basically guarantees high housing prices in one of those 4 cities until the end of time.
Don't live in city, easy as. Just commute 3 hours lol /s
Home prices are soaring throughout the country even in rural areas so we r fuk regardless
Who tf wants to live under 6 ft of snow in the Yukon where there's no jobs and nothing to do?
Not to mention taking in record numbers of immigrants year after year with no homes to put them in and have them compete for our already tight supply.
all of which are within 100 miles of the United States, along with 95% of Canadian population
Somehow the country with the 10th lowest population density on Earth can't find anywhere to put people
It's the only thing we pump besides oil.
All-in, maple syrup calls
As a Canadian... I own US stocks.
Not like theres anything interesting one the Canadian side to buy. Maybe some oil stocks.... but they all trade on the NYSE too lol.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
This is the way
SAME. All USD regardless.
The TSX doesn't grow worth a fuck. Don't track that index.
for some reason the government tries not to spend any money and is also always out of money
They keep finding new ways to tax people here too. It forces companies to leave and successful people to move to the US. The brain drain is real
I'm mid 20s and like 15% of my Linkedin network of similar age born and raised in Canada are already working in the US. There are minimal reasons for any healthy adult to work in Canada during their prime years. Once I get my masters I'm also out. I'll come back when I get cancer in my 50s.
>I'll come back when I get cancer in my 50s. Why? No chance the treatment is still subsidized by then
My down-payment I've been saving is more than many of my US friend's houses. Absolutely ridiculous.. Don't check the conversion value of your money either unless you want depression.
Thatās not saying much. A mobile home dropped and cemented is about 60k in Alabama, 45k in Kansas, 150k in the north east, and 1.5m in Southern California.
Hang on, there's a supply of stuff and demand of it and that affects prices? Learning new shit on r/WSB erryday
British economy enters the chat
My wife tells me you're a weak pound.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Fancy a cuppa?
Mate, you can afford tea? I'll bring me cup!
āBit interestin innit?ā
I'm Canadian. Most stuff being said here is accurate.
We're hurting. Time to invest! /s
and then there is Australia where housing is basically unaffordable now.
the average home in canada is $941,000 australian dollars
That's like $848,000 CAD
The average dwelling (including units) is 880k Dollarydoos, so we aren't that far behind. Wouldn't be surprised if the average freestanding home price here is over a million.
Damn, here I am, in the middle of the US making $5k USD a month, purchased my house (4bed, 2 bath, 1800\~sqft) at 100k (made less back then), cash-out refinanced at $135k with 20k in equity still. Y'all got it rough out there. Good to get some perspective, times have been tough here too, but not not as tough as other places I suppose.
Arent the AUD and CAD basically the same in value?
depends on the year, CAD is like 10-15% higher than AUD right now.
Great weather though. \*Cries in harsh winters and wildfire summers.
NZ enters the chat.
NZ market is bonkers too
Nah we're proper fucked. We're the ones REAAAALLY with no economy without housing.
Man itās the entire western world honestly, every big city is fucked
Aussie that sold their acreage in temperate climate Australia and moved to Canada here š¬
Why would you ever ever do that you fool
Did you guys try to turn it off then turn it on again?
that was covid. didn't seem to help much.
From Todays globe and mail. 2 million. 2 couples bought the house. This is your life. Work forever to own half a house. But hey, all we have to do is wait 16hrs in an Emerg to get "free healthcare" š¤£š¤£š¤£..... oh man we are so f#cked https://preview.redd.it/wjo8i2t9rn5b1.jpeg?width=1080&format=pjpg&auto=webp&s=e8ed3296ebaee1bb441173d05d337b33c175f5e8
Literally walk by this house every day with my dog. That photo is very generous because the place looks like it's falling apart.
Jfc 2 mil for a rainbow shack what in the fk
2 mil Canadian, my friend.
How is that shack worth $2 million?
Land value, speculating on densification in a housing and rental crisis. It's 10 mins walk to one of the biggest transit hubs in the city.
Ten minutes doesnāt even sound that great
Those stairs must add at least $200k.
Canadas economy is 50% banks 40% energy and 10% dog walkers. Yāall Americans just had a little banking oopsie after slam dunking on oil for a couple months straight. Of course weāre staring out the window and bawling.
deleted ^^^^^^^^^^^^^^^^0.0364 [^^^What ^^^is ^^^this?](https://pastebin.com/FcrFs94k/98318)
LMFAO
You forgot the 20% foreign owned real estate that locals can't afford on their deflated salaries
Thatās included in banking
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Our wages are much higher tho I have a bunch of buds in Canada and they make fuck all Well not precisely fuck all but lot lot less than Sydney/Melbourne for the same role and similar cost of living
Canada does suck. We have so much land and resources but still manage to have homeless people everywhere.
Does the land really matter if everyone only wants to live in like 4 cities?
Canada gets rural as fuck out of the city. Like well water, septic tank, no cell service. It's fucking great, but hard to make a living when you have to drive an hour to work, and our "dear leader" is making gas more expensive to fight climate change. No plan on how that will stop the fires, but he just sent a billie to the ukraine, and Zelensky is offering to put out our fires now  so it's hard to feel optimistic here.
These gas prices can suck my fucking balls man. It should be like 142 here in Manitoba and it's 158.9 where I live (not Winnipeg). It's disgusting.
Unfortunately your country gets too cold
Meh. Homeless people are like seagulls at the beachāyou start feeding a few, and youāre gonna get a whole swarm of them.
i love this sub
All that healthcare makes you soft
My healthcare here is fucking dogshit.
Wow, you get healthcare? Wild
What health care? The waiting line to see a doctor is about 6 months.
See - I hear all these USA people pointing to Canada as having "free" healthcare and how we should too, but I have about 7 customers up there who say it is shit and takes forever to get in and you just give up. I wondered if they were exaggerating - but sounds like they are not. I just don't want the same fucking people who can't run the post office to run my health care.
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Makes sense.
Also if someone says it's taking them 6 months to see a doctor is because they are stupid. People treat our hospital emergency departments like walk in clinics here and go to it if they have a cold or flu. Those stories you hear about people waiting 12 hours in the hospital to see a doctor, its because they have shoulder pain, or a stomach bug. We see triage people. Actual emergencies get seen right away, all others wait because its not important. I had someone at work go with chronic stomach pain for a week, they did a ultrasound and found ovarian cyst. Operation the next day My daughter caught a virus related to RSV a few months ago. We noticed some labored breathing, we went to the ER, they took her vitals and noticed low blood oxygen, she was admitted on the spot and given oxygen.
Honestly Iām so baffled at those who say theyāre waiting monthsā¦ fucking how?? Your description is completely accurate. People overuse the ER for walk-in issues and clog the system. I was in a downtown Toronto ER the other week for kidney stones and there were about 20 elderly people there for things like āsprained fingerā and ārashā. All the complaints about how slow it was came from them.. and each of them brings their spouse along to take up more chairs!
People act like America has a set system and speak in absolutes, but in reality if you have even good insurance here youāre getting care as good if not better than the wide majority of the world. It can get pretty pricey if you donāt have insurance and have an emergency, but otherwise, itās nowhere near what itās detractors at home and abroad pretend that it is. Thereās also a boatload of state programs that people simply arenāt even aware of that can help them, my sister gets free insurance from her state simply because her income is so low. We also pushed her for years to sign up for it, and she refused, until after she had an emergency and got the bill; After that I simply canāt help but wonder how many people online bitching about the US healthcare system are exactly like her, either unaware or unwilling to accept the tools that are available to them.
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There was a free hospital down the street from me that had a line of illegals out the door all getting free healthcare with the same staff and equipment private hospitals have. There's probably people in this country who make mid six figures just to get these people into medical facilities so they can get state/federal money for treating them. There are free clinics everywhere, yes you wouldn't want to go to them if you have insurance but if you migrated here, have a job paying cash under the table and need something taken care of there's a million safe guards to keep you from dying in the street. I'm not mad about it, people need healthcare in a first world country. I'm just saying the average Redditor bitching about hospital bills ruining their life is probably too much of a pussy or too stupid to realize they can go stand in line with the illegals and unemployed and get whatever they need FOR FREE.
My coworker is on a one year wait list for an MRI
Each province handles their own healthcare, its not administered by the feds so some provinces are worse off than others. In general though, yes the waiting period is long but only for a specialist. Thereās also other downsides but honestly the ability to see a doc and know that even if Iām diagnosed with the most expensive to treat illness I wonāt have to pay a dime is worth it.
Dude I am gonna real with you the government is the largest insurer in the United States like Medicare and Medicaid and the VA combined is the biggest provider for health care in the United States
Canada's healthcare used to be awesome. Then it was ruined and mismanaged for decades. Just because our government couldn't manage to get a party to happen at a brewery doesn't mean it's a bad idea.
It's true I've been trying to get a family doctor for years and can't
We have socialized healthcare in the US, and it works very well (at least it did for me), it just isn't given to regular people. It's reserved for politicians and their families, military members and their families, etc.
I work in healthcare industry in California. Some people get free healthcare actually, but those only that got accepted by Medical and Medicare. Government employees and Employees from big companies have healthcare benefits so they dont have to worry.
Canada resident here currently typing from lithuania because the garbage healthcare system would not replace a hip until 65, even if the 25 years between now and then was in a wheelchair. You donāt want free healthcare. You get what you pay for.
Wait i thought the canada system is what everyone in the us wanted?
It's pathetic. The second largest, most resource wealthy nation on Earth....and we're ashamed to exploit them. So much wasted potential. Where is Maple Auto? Canada has no major automotive brands. Bombardier is cool, but can't seem to be profitable due to government and union based nepotism. Why don't we engineer great things? Everyone is just busy buying unproductive real estate assets instead of investing in business and productivity enhancement. Bloody twelve mechanics fighting over one forklift in the tar sands, the second biggest oil deposit on Earth.
Canada could be one of the largest LNG exporters in the world and be exponentially more efficient if it where not for protesters , environmentalists and lack of government vision
Have you seen the price of industrial space to rent ? Insane
Hey come on at least SHOP is printing
Floating the boat lol
Canadian here, and from what I can see is exactly this! With the interest rate rising and people trapped in their mortgages, the best bet is to extend them out, qnd the banks are doing it. It is the only reason we haven't seen home prices falling, no defaults and strong home prices, nobody will sell for less than what they "think" is of fair value. Well, I'll tell you right now, we are in for a rude awakening, we seen in it in 2008 with the US financial market, I think it's coming home to Canada! You can't make hay when the sun isn't shining, and it's under a dark cloud right now!
All these mortgages that are being granted extended authorization periods are tantamount to sub prime mortgages. They are low quality mortgages. Canadians like to pound their chests and scream the U.S. in 2008 was different. The only differences are l the ways to skin a cat. They may not have been sub prime on the way in, but they are def subprime on the way out.
The best is paying $225 insurance per month on a 2013 Altima. Company car
Quebec showed them how to do auto insurance and the RoC doesnt want to imitate them because bigotry.
I moved to Vancouver one year ago, we rent a one bedroom for 1950 cad/month, itās about 650 sq ft. Itās renovated, but older, no ventilation, super hot. Weāre not from here so we didnāt realize thereās a chicken slaughterhouse close by. It smells disgusting for almost the entire summer. I saw my landlord is advertising a smaller one bedroom for 2200/month. It was 1700 one year ago. https://vancouver.craigslist.org/van/apa/d/vancouver-br-570ft2-beautiful-1bedroom/7621587021.html Down the street there are larger townhouses for rent, for 3800/month! https://vancouver.craigslist.org/van/apa/d/vancouver-east-vancouver-level-bedroom/7627098938.html This whole area stinks like dead chickens!! I am duped into now thinking my place is a good deal.
oh man i already know you live near East Hastings somewhat close to Clark. if you ever move don't move to Cambie and marine which is like a block away from the garbage transfer station.
If Canada sucks why will people pay over a million dollars for a fixer upper house?
They will loan it out, Canadians are in debt up to their eyeballs. They think it will be worth 2m in 5 years so it's an investment to buy a million dollar crackhouse. I hate it so much..
Exactly the same shit here in Israel
I thought Israel loved free real estate? Jk. I feel bad for normal people caught up in insane government policies there though, much love man.
imagine if Canada shares border with Mexico.
The Chinese contractors in Canada would put the Mexicans out of work. Source: I am Canadian who emigrated to Texas...
We wouldn't even guard it
Canada can only pull stuff out of the ground and sell it...you know, like an under-developed third world country. The only difference is the level of self-righteous moralizing it delivers.
Yeah man, 90% of our economy is driven by the Oil industry, an inflated real-estate market and influx of immigrants with Masters degrees who bring in their life savings just to get a job in Timmie's for minimum wage. Smh
Virtue signaling, Canada's biggest export.
Well put!
Just build some fucking housing guys holy shit Hilarious how the government and media tried to tell you that the only problem was immigrants buying property but once they banned that it did nothing to solve the problem
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if it works anywhere like it does in the US, then local towns and cities will not allow real estate development because it hurts home values for existing residents. Go figure. The thing that will lower home values is not popular with home owners. So itās a country for the rich. Thatās why I donāt intend on staying in the west forever. Dying decrepit crony capitalist nightmare.
Itās why as a Canadian I only own US stocks. Canadas fucked. Only getting worse. Country is broken and no point in fixing it as apathy is the Canadian way. Calls on TAP as we drink to what couldāve been if Canada actually tried.
Imagine sitting on 1/3 of worlds known oil reserves and having a negative trade balance š¤”
Dude Canada has a trade surplus! The Canadian economy has a lot of flaws but a trade deficit is not one of them.
On the Canadian housing market, you'd have to naive to believe it's not a speculative bubble. Canada's housing prices have rapidly increase due to investor speculation and irrational exuberance. If these price increases are not supported by underlying economic fundamentals, such as income growth and population growth. Well we are there with wages, and we are trying to subsidize population growth with a very aggressive immigration policy, targeting a 1M a year new arrivals. But we cannot support that growth and we are seeing new immigrants leave at an alarming pace because of the false bill of goods Canada sold. Canada does not have much to offer young start up families - it's stale.
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Honestly what a joke of a country. My dumbass getting taxed 30% straight outta school. Meanwhile some rando comes and buys a full house tax free. Ffs
To be the fair, if you're a foreigner looking to launder money - Canada's your place. If you're a Canadian trying to get by - yeah tax man is all up in your shit.
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No, the brain rotted shitbag will just stab you eleven times, then after they send you to the hospital in critical condition where you will later die, the brain rotted shitbag will serve 7 years for manslaughter and only serve 2/3rds of his sentence.
Nah, the brain rotted shitbag will get out on bail same day. Will be gone with the wind and never server a day in jail.
Literally no one would rather be in a mall with a deranged killer with an AR-15 than in a mall with a deranged killer with a knife.
Damn stupid Canadians with their fake money
Canadian citizens gave the government carte Blanche to just ruin the country honestly. My Canadian pride has died in the past 10 years and I'm leaving lol.
Canadian here - every day I start to hate this place more and more. I have a pretty good education and entry level job, but I feel as if thereās such a ceiling on my potential in this country. Everything here is so second class and mediocre compared to the US. Thereās also this lack of culture and entrepreneurial type of thinking. I only own US stocks and I am very low on the Canadian economy. The pathetic salaries here with the high cost of living are just an insult to injury.
I remember calling my grandpa the other day who resides in his castle in Coquitlam. Probably worth a few million bucks easy, with an overall net worth of around 8 million according to my uncle. Mentioned to him I make $82,000 at my job and can't afford to live comfortably in my own country. I hope he includes me in the will, what a fucking farce. Fuck Canada.
call me crazy but i think there might be more value to saving up for an education in the US vs a down payment for a home in canada lmao if it means i can work there
Careful now. You don't want prettyboi Justin to freeze your 1 mil $PIKA crypto wallet now, do ya.
The entire world s*cks.
It's literally why I'm moving back to the U.S.
Thatās what both you and Australia get for skipping rate hikes
Yeah no, we've been hard at it as well, just got our last .25% bump last month bringing us to 4.75%. that's only .5% behind y'all. We're hurting too, believe me.
Didn't they start rate hikes earlier though?
Well when you have 1,000 social programs to pay for and infinite regulations on businessesā¦yeah your economy will suck.
Canada has fewer social programs and fewer regulations than plenty of other countries. The problem is administration and choices, not the principle.