Charlottetown has now become one of the hottest housing markets in Canada (LOL) – July 31, 2019,
So yeah, the population of Charlottetown a City in Prince Edward Island Canada is around 36,094 (2016) and it’s one of the Hottest markets in Canada.
Now I want to read what Ann Wheatley of the Cooper Institute stated in the article I point to at the bottom of this post.
Wheatley said at the core of the problem is less focus on houses as a place to live.
“It’s an investment, and it seems today in this market that it’s a relatively safe investment for people who have the money to invest.”
Recent market conditions bolster the argument for government-owned affordable housing, she said.
“A very effective way of dealing with the shortage of housing is to provide more publicly funded, publicly run housing,” said Wheatley.
Rather than funding private development of affordable units, Wheatley would like to see the government take direct charge of affordable housing, to ensure that it stays affordable.
So yea, the Government creates the problem and Wheatley believes that the government is the answer to the problem. Firstly, it’s important to understand what the Cooper institute is, so you’ll have a better understanding of where Ann Wheatleys position
What is Cooper Institute?
Cooper Institute is a development education centre engaged in popular education and research. The institute was established in 1984 and is a registered charity (#10114 4541 RR0001). Cooper Institute works with groups that are organized for social change, such as primary producers, workers, First Nations, and women’s organizations.
The position taken by Ann Wheatley, in my opinion, is the problem. Government Housing as everyone knows requires maintenance, government workers can unionize and demand high wages, the private sector has to fix building pipes, electrical, build and maintain elevators, etc. The government housing the poor requires a strong income and sales tax-generating Private Sector, which is something P.E.I currently doesn’t have.
Now there’s obviously an excuse being made for why the housing market is booming in P.E.I, currently, the excuse being used by Greg Lipton is the whole immigrants moving in thing, I’ll address this later, for now I’ll argue that immigrants that are bringing sustainable jobs or coming to fulfill vacant job positions usually don’t build housing for AirBnB or investment housing to hoard capital. So Ann Wheatley is definitely onto something when she says “A very effective way of dealing with the shortage of housing is to provide more publicly funded, publicly run housing,”.
Similar to Toronto, Montreal and Vancouver housing is being built not based on local demand but based on the wants of the Real Estate Lobby. Although I’m writing about Ann the CBC article below is mostly about Greg Lipton who is president of the P.E.I. Real Estate Association. That’s what I commonly refer to as the Real Estate Lobby.
Consider critiquing what Greg Lipton says below:
Greg Lipton, president of the P.E.I. Real Estate Association, said the seeds of the hot housing market were sown with the arrival of immigrants through the provincial nominee program.
“They came with a lot of money and they wanted something new, and we didn’t really have a lot of new stuff at that time,” said Lipton.
“New construction is very expensive. We’re up to close to $200 per square foot nowadays to get anything built.”
Now, you see I’ve actually followed immigration retention, and the reality is most of them end up in Ontario. Now, CBC wrote about this way back in January 2019. oddly enough and you can’t make this stuff up Kevin Yarr🤣 wrote the article, check it out for yourself!
P.E.I. has worst immigration retention rates in the country – CBC – Written by: Kevin Yarr🤣
Now on July 31, 2019, Kevin Yarr writes another article and doesn’t even attempt to link the two things together? I’ve said it plenty of times that the Real Estate Lobby in Canada is very powerful, CBC being that it’s a Crown Corporation should at the very least do some simple research. Anyway Canada I’m done with this story. If you can’t see how corrupt the CMHC, The BoC, The CBC and the Real Estate Lobby are by now, you’re on your own
How Charlottetown has become one of the hottest housing markets in Canada – CBC Written by: Kevin Yarr🤣
Interesting times ahead