Montreal home sales rise for fifth straight month, this is a disaster waiting to happen – August 16, 2019,
So yeah, Calgary, Edmonton, British Colombia, Toronto that’s one thing, Quebec that’s something entirely different. Quebec is very socialist and the assumption by socialist thinkers is people over profits, government intervention over capitalism. I’m not sure whose bright idea it was to inflate Montreal’s housing market, but I’, here to tell anyone who is investing in Quebec real estate in hopes they’ll make a quick buck, you’re making a huge mistake! Wrong people, wrong demographics, I remind the reader also that Quebec without equalization payments is basically Argentina.
In my opinion Austerity measures in Quebec will not happen without a riot, I warn anyone reading this you’re making a huge mistake. Anyway, I’ll leave this alone, you can read the optimistic article below, places like Prince Edward Island are experiencing a housing boom 😂 I think this is hilarious, new migrants as soon as they land in Canada are heading right for Toronto.
Sure the government might try to settle them in places like Nova Scotia, but these people aren’t forced to stay in these Liberal infested economic hell holes. Migrants aren’t staying in these small towns for long, they’re heading to where they think all the action is and what’s worse, is that most can’t afford Toronto’s cost of living, so as home prices rise so are homelessness ALL OVER CANADA. Migrants will, of course, vote for Leftists to solve their housing problems. If the government builds housing, the government has to hire people to take care of the governments’ property.
In Toronto as an example, there is a bunch of government community housing building that has a bunch of problems that are extremely expensive to fix, elevators are the common problem, and elevator mechanics are extremely hard to find. The government doesn’t want to get into rental or community housing, which is why the CMHC offers insurance for mortgages. The CMHC is trying to push Canadians into homeownership, the problem is that Foreign capital has to build the houses and condos and this foreign capital wants to be compensated with inflated prices.
Well, those inflated prices are so high in Toronto and Vancouver (The places migrants are flocking too) that the CMHC is now trying to offer First-Time Home Buyers Incentive (FTHBI) which I prefer to call a down payment loan. Once a person owns a home or condo, the government can’t tell that person what to sell it for, so instead the CMHC would rather help you pay the inflated price by being indebted to them. This is pure government buffoonery but hey I’ve been warning about this stuff for years. So if people don’t want to listen that’s on them.
This CMHC experiment needs to be put to sleep, it needs to be sold, I think if CMHC is to exist it should be Provincial instead of Federal, because as you can clearly see, what’s happening in Canada is foreign investors are moving from city to city in Canada, using existing laws and safeness of Mortgage-backed securities in Canada to use our country as the ideal destination to park, move and launder money. This is all stupidity at this point, and the two crown corporations at the center of this buffoonery are the Canada Mortgage and Housing Corporation and the Bank of Canada. Quebecers are different, it’s a difficult culture out there!
Interesting times ahead