Instead of Calling Out The CMHC and The Bank of Canada, NDP Leader Jagmeet Singh Calls Out American Entertainer To Build Affordable Housing In Canada – November 6, 2019,
There’s nothing sexy about economics, Most Leftist know this, which is why the Jagmet Singh, Justin Trudeau types present themselves as the easy fix to problems that require a systematic change in behavior. Hey voter, vote for me and I’ll promise you free stuff. We, your Leftist oligarchs will tax you more so that you can get more, makes sense right? Of course, it does vote for Jagmet Singh because he will make the rich pay their fair share.
So Narcity wrote an article about Jagmeet Singh Just Grilled Pharrell On His Plans To Design A Condo in Toronto and the first thing that came to my mind is Alberta and Bill Morneau. You see when a politician attacks a wealthy person, there’s this assumption by the Leftist politician that the wealthy person can’t retaliate. People who make purchases are consumers and given the option most consumers will ask for a refund if they’re not happy with their purchase. This society we live in, after all, is voluntary.
We all voluntarily follow the law, we all voluntarily pay taxes, we all voluntarily contribute to the building of this nation, however when a politician starts blaming private citizens foreign or domestic for problems the Government claimed it could solve? Well now, you’re putting private citizens in a position to do what Jeff Bezos and Amazon did when U.S. Representative Alexandria Ocasio-Cortez started labeling Amazon as tax-cheats in New York.
There are people that believe that land is wealth, the land is only as wealthy as the human capital on it. If the government creates an atmosphere of picking winners and losers, thereby using one demographic group to pin against all others, then you create a very bad precedent. This attitude of blaming the rich by Jagmet Singh is why the Alberta Separatist movement is growing in size. If you believe in Global warming that’s fine, if there are 11,000+ scientists out of 7 million scientists that believe there’s a climate emergency, that’s fine, but for the rest of us we have rights to this planet too and just because you believe in climate change the way Christians believe in the second coming of Christ doesn’t give you the right to force your beliefs on me.
The CMHC, The Boc and the current regulatory housing environment led to the housing shortage and inflated rental prices.
If the government is going to build housing, the government better be prepared to maintain housing. In Singapore, the government at one point did build housing and their experiment was successful, but a few things to know about Singapore, the first thing is wages aren’t fixed in Singapore and their public sector is flexible. There is no minimum wage in Singapore, what this does is it allows a deflation in prices, fix wages and in cities like Toronto Rent Controls lead to higher prices because wage and price fixing equates to a pyramid scheme. Meaning it would be in the person’s best interests to rent now, because rental and housing prices are guaranteed to go up later, as long as CMHC keeps giving insurance for people who otherwise couldn’t afford a house and the BoC facilitates this nonsense by keeping interest rates artificially low.
Capitalism, the drawback to Capitalism are price deflations, market crashes, innovations replacing old technologies and old ideas, Fire Sales, Liquidation sales, garage sales, the bartering down of prices, that’s free-market capitalism. Look what Uber did to government-regulated taxis? Taxis prices never deflated, because Government workers who enforce government regulations work for a fixed paycheck, taxis prices always inflated and why shouldn’t they, prior to Uber they had no competition, unless you want Venezuelan style Socialism, the government can’t control the selling price.
When a person purchases a house or a condo, the government can’t dictate what price that person rents out their condo for nor can the government tell that person what price he or she can sell their condo for. This is called the government picking winners and losers and this is the main reason why the housing market in Canada is the disaster that it is. Now, because CMHC has decided to make people how to build homes and condos the winners of their insurance and because cities like Toronto have rent controls, which actually means in the event of disaster the owner of the rental unit can’t raise rental prices, this equates to developers opting to build high rise condos over high rise apartment buildings.
Being that the American entertainer is the artist involved in the Condo development Jagmet Singh is referring to, he might not even realize the hornet’s nest his getting himself into. But if Jagmet Singh keeps poking at him, he like Encana in Alberta might decide that this project isn’t worth the investment. You see when people like Jagmet Singh and Bill Morneau virtue Signal and make themselves appear like some sort of purity, there are drawbacks, Rome fell because of people like Jagmet Singh and Justin Trudeau, the hardworking wealth creators said to themselves we don’t see the value in investing in this anymore, we’re damned if we do and we’re damned if we don’t.
For money chasers, they’re often baffled when humanity is able to not only survive but thrive without a big government. It’s not to say things will ever be perfect, but with every generation of human, humanity is becoming wiser and more knowledgable, I often write about Switzerland as a guidepost to what future governments all over the world might look like.
I like the idea of municipal governments having the most power because when municipal governments have power, the people can see the end results of their municipal leaders plan almost instantly. This is why politicians in Switzerland can be jailed for running a deficit because you see what the citizens of Switzerland are saying is we’re not going to allow our politicians to virtue signal, we’re not going to allow our politicians to bankrupt us in pursuit of their individual power, we’re not going to allow our politicians to point blame at external sources.
If you’re a politician in Switzerland and you’re a socialist, you better make sure your socialist programs are solvent. Again because the minimum wage price control and rental control prices are governmental social justice causes, in the event the politician who implements something like that, then that government official has to be held accountable the same way they’d be held accountable if they were running a business. Do you want to pay your public sector workers more money? Fantastic well make sure you don’t run a deficit to do it!
I don’t know much about this Pharrell entertainer, but he’d be wise to seek counsel before investing in Toronto because it appears that Jagmet Singh is too scared to approach the Bank of Canada, the CMHC and the regulatory authorities in Canada to potentially reconsider their policies regarding the housing crisis. Because I have to pint out, the rich didn’t cause this housing problem in Canada, they’re only benefiting from it. If I can $2 million dollars for a home that should sell for $300K max, why shouldn’t I sell?
Prior to CMHC being an insurance for mortgages, Condos would have a hard time getting financed, that’s horrible you say? Well, no actually that kept rental prices stable because remember CMHC is in actuality helping people who otherwise wouldn’t qualify for a condo or house. Consumers are more demanding when they have more skin in the game. If you’re wondering why these condos are so small, if you’re wondering why there’s a housing shortage it’s because the Canadian housing market is a Ponzi scheme, GET IN EARLY because the prices will almost certainly go up, don’t worry the Crown Corporation known as the Bank of Canada is keeping interest rates low, so you have nothing to worry about in regards to higher interest rates, guess what else, CMHC doesn’t only offer mortgage insurance they’re even creating a downpayment loan, you better get in early because the government is not only helping you but also working to protect you too, you can’t lose!
Now, the losers in this equation or the people, the renters who can’t get in early, the people at the bottom that have to pay all the inflated fees, caused from people who buy homes and condos wanting to use renters to pay their mortgages off, furthermore because there’s more incentive by the government to build condos, than there is to build rental housing, more condos are indeed built. This stuff is common sense, most politicians know this, but because the Jagmet Singh types are protecting his public sector buddies, he’ll never tell the truth, instead he like Justin Trudeau will blame the rich.
Canada is dissolving into a political embarassment!
Jagmeet Singh Just Grilled Pharrell On His Plans To Design A Condo in Toronto | narcity.com
Interesting times ahead!