Nobody is forcing Torontonians to pay $1100 CAD in rent to live near Cabbagetown in a cramp Bachelor Apartment, that’s a choice – March 9, 2019,

There are lots of demonic people in Toronto, who think that it’s their right to confiscate private property. For the record living near Cabbagetown in Toronto means you’re living in prime real estate, you’re near all the action, you’re close to the heart of the city, a lot of people who live near Cabbagetown often brag about, personally I have no desire to live near Cabbagetown but there are lots of Torontonians who would love to live there but simply can’t afford and therefore want the government to step in and do something about it. This is the type of thinking why CMHC a State Owned mortgage insurance ‘company’ was allowed to insure mortgages in the first place.

Although people on the Right want to act like they didn’t support this ridiculous everybody should own their own house idea, no, this stupid plan is often ignored by the political Left and Political Right and there’s another government price control still in effect called Rent Controls, sure Doug Ford did what he could to ease rent price controls, but they’re still in Ontario and both the Mortgage government-backed insurance price control and the Province-wide price controls have for the most part made the Market unable to correct this housing problem.

The one thing that really, really pisses me off about the article below is the following statement on the Toronto Star website

In downtown Toronto, $1,100 a month gets you a toilet, a hot plate and ‘crushing sadness’ – Toronto Star
Dent said he’s seeing “more and more” apartments such as this, as Toronto faces a brutal housing shortage.

I want to make it clear as a resident of Toronto, who has the ability to rent almost any property all over this city, that there isn’t a housing shortage in Toronto, all a person needs to do is search for Toronto apartments in Google to see what I’m talking about. There’s an affordability problem in Toronto and the affordability problem is caused by the government, namely, the CMHC whose allowed more real estate investors to finance condo building.

Now, it’s very important to understand the one benefit of Rental housing, tenants of rental housing can’t flip their condo unit, tenants of rental housing won’t hoard their properties in hopes of increased rental cash flow or price inflation, tenants of rental property aren’t going to lobby the government and propagandize the Canadian people with the lie that there’s a “brutal housing shortage” there’s not a brutal housing shortage, the Canadian real estate namely Canada’s largest cities are a real estate speculators paradise.

Price controls of any kind prevent a bottom from occurring if let’s say we didn’t have a central bank and the State-owned CMHC wasn’t allowing real estate speculators to have mortgage insurance, that’s backed by Canadian taxpayers? In a free market, the owner of a property would be subject to actual market conditions. If you don’t understand what market conditions are I’ll use store closures in Toronto malls as an example, as a lot of Torontonians are seeing a lot of stores are closing down in malls, which has led to a lot of fire sales occurring, when a business isn’t profitable it has to close its doors and in a free market this means that owner has to sell or face bankruptcy.

Real estate is no different, prior to the creation of the CMHC a lot of landlords of rental units had to sell when their apartment buildings weren’t profitable, a young person in the 1990’s I got a lot of rental units with 2 months free of rent. Now, here’s the thing, I couldn’t live in Cabbagetown because my income didn’t allow it, I still had access to the TTC, so I still access to the downtown core of Toronto, but Cabbagetown was out of reach for me, because I wasn’t willing to pay those rent prices, even back then.

However, even back then people were complaining, the smart people simply moved out of the city and purchased property without the assistance of the CMHC at rock bottom prices, sure interest rates were higher back then but you could get a 3000 square foot house in the greater Toronto area for $189,000 back then. During that period of time $189,000 sounded like a lot of money, but in comparison to now, ever since CMHC got involved that same exact house that in reality has depreciated based on wear and tear is probably over $1 million dollars easily.

This housing problem all over Canada I want to make it clear, it’s not a housing shortage, there isn’t a housing shortage in Toronto, what we have is housing that’s not meeting the demands of the public and this is happening because the CMHC is picking winners and losers, the winners are the people and entities who qualify for a mortgage backed by Government insurance, the CMHC provides a cushion for the mortgage prices not to drop too low, it’s extremely important to understand that insurance and banking are in bed with each other.

In America they used to have something called Glass Steagal, Canada had a similar law which didn’t allow banks and insurance companies to merge, well corrupt Paul Martin removed that law I believe in late 1999 or 2000 and ever since that law was removed housing prices shot up and they’re going to continue to shoot up until the Canadian consumer taps out. The Canadian economy is going to come to a grinding halt and when the actual crash happens, I can guarantee you that if the right politician isn’t in power the assumption will be made that more government stimulus will be needed, what I’ve trying to make clear to my readers is that the world has changed, the economic ways of old are coming to end.

Interesting times ahead!