1.34 million empty and temporarily occupied housing units in Canada and Growing – Loonie Depreciation – August 16, 2019,

So if someone were to ask me how many empty houses there were in Canada, 1.34 Million wouldn’t be the number tha would come to my mind. Because to be honest it never hit me that 1,340,000 houses would be left idle or used as vacation homes. I guess I kind of knew but I’d never say that number out loud without the data. Well, the Huffington Post reported it and there are no arguments here.

I can’t speak for other cities in Canada I just know what happens in here in Toronto. Here in Toronto when you go downtown you can feel the emptiness in the Condos, you’ll pass by areas in Downtown Toronto or areas in North York and there aren’t as many people around as you’d expect. What’s really depressing for me about Toronto is the lack of children, downtown Toronto is unaffordable, so middle-class families tend to avoid Downtown Toronto like the plague.

Downtown is basically poor kids whose parents are usually on some form of government assistance and rich kids whose parents can afford the downtown cost of living. Yes, you’ll find the odd middle-class family downtown, but there’s a reason why most of the criminal activity tends to happen in Downtown Toronto and Toronto’s West End. There’s no sign that Canada will end this disastrous CMHC experiment, bank of Canada interest rates are low and signaling that they’re considering lowering interest rates in Canada again.

The Prime minister of Canada is corrupt and things are getting really gloomy in Canada. With the current policies in place namely The two crony Crown Corporations (The Bank of Canada and the Canada Mortgage and Housing Corporation) both assisting insuring mortgage and loan growth, there’s nothing really that can happen except for further price inflation. Canada, as I’ve been saying for years, is heading for a serious currency crisis. Most government workers have their pay keep up with the inflation, and deflation in the housing market is unlikely because the CMHC (a mortgage insurer) will have a lot of money to pay to banks if there’s a housing crash. It’s a very depressing thought looking at the future of the Canadian economy.

For myself, the hardest thing to look at is the Condo market, what a disaster. Anyway, you can learn more by reading the article below.

Canada’s Vacant Home Rate Is 5 Times Higher Than U.S., And Rising – HuffingtonPost.ca

Interesting times ahead.