Idiots in the Canadian media are looking for easy answers to all the problems they created, not comprehending that our democratic system is the root cause of Canada’s housing problems.
Now, the only reasons I’m writing this post, is because the writer Chuck Chiang of the post titled Is Singapore’s housing model a realistic solution for Canada’s affordability woes? put Canada in the title instead of confining it to the Left Wing idiots in B.C.
Housing affordability has been a problem in most of Canada because of MUNICIPAL politics. Canada has a lot of Champagne socialists, and these economic idiots want price controls, strict government regulations on the private sector, and free cradle-to-grave welfare money from the government for EVERYTHING, including hard illicit drugs and controlling the weather.
This Champagne socialism model is not only expensive, but it also serves as a REPELLENT for innovation; BC, for example, was one of the first provinces to go on the attack against Uber and AirBnB.
Rent controls are important to a lot of Canadians, and rent controls equate to a cap on earnings, which equates to landlords making their rents higher. Now, the government can AGRESSIVELY get into the rental market, but Singapore doesn’t have, for example, a national minimum wage.
What does a minimum wage have to do with housing? Well, housing requires MAINTENANCE, and the labour and material costs that go into this, along with rising and REQUIRED INSURANCE premiums for everything housing-related, equates to every rising price related to everything housing-related.
It’s not popular to talk negatively about the CMHC and it’s housing-related INSURANCE products, but the Canada Mortgage and Housing Corporation serves as a PRICE CONTROL mechanism in the housing market as there is no competition in the mortgage insurance market in Canada, which is similar to the auto insurance market in B.C. that creates all sorts of PRICE DISTORTIONS in the housing market.
Price controls are something Singapore’s government is familiar with; it’s not that the Singapore model is perfect; it’s that it’s ALIGNED with the People’s Action Party (PAP) agenda for their overall vision for Singapore.
The People’s Action Party (PAP) also doesn’t have to worry about the Democratic process Canada has to deal with, in which money is funneled to all sorts of WASTEFUL programs that not only waste money but also raise the barrier into the Canadian marketplace, thereby making it more difficult for Canadian entrepreneurs to solve economic problems.