This is NOT Doug Ford’s Fault END THE CHMC: Housing affordability in Ontario has eroded faster than any province amid COVID-19 – May 18, 2022,
First and foremost I’d like to make it clear that even if Liberal Kathleen Wynne Were the Premier of Ontario, I wouldn’t blame her for the housing affordability. Housing affordability stems from the Federal government’s involvement in the housing sector. It’s bad enough that Canada has a central bank doing everything in its power to make Justin Trudeau’s reckless spending affordable for the Federal government, but Canada also has another FEDERAL Crown Corporation known as the Canada Mortgage and Housing Corporation(CMHC), that’s entire existence and solvency rests on keeping housing prices higher every year.
The Canadian FEDERAL government is so involved in the Canadian housing market that it REQUIRES inflation targeting. Provinces in Canada are powerless to do anything about this. Now, let’s put something into perspective, first and foremost Ontario is Canada’s most populous province, and quite frankly I’m not sure how many people are in Ontario ILLEGALLY.
Furthermore, because housing prices are almost guaranteed to rise, speculators who’ve found their NETWORTH increasing every year, are flipping properties like traders flip stocks. Because Ontario is Canada’s most populous province, I don’t even have to flip a property in my own name, I could flip in cousin’s name or business partner’s name, I don’t know why governments even waste time with foreigners, most of these foreigners have relatives or close friends in Canada.
In a market economy with normal interest rates, this wouldn’t even be a problem, but the FEDERAL government is dependent on HIGHER asset prices, so it can justify spending more. Could Doug Ford be making the problem worse? Maybe, but the root cause of the problem are the various branches of the Federal Government.
Interesting times ahead