Good afternoon,
I thought I would give you a breather from my long, info-packed monthly newsletter and share an interesting take on our national housing-crisis. Interest rates are higher than they have been in over 20 years and construction of new housing is constrained by policy and costs.
Here is a 25 minute video that offers some no-frills perspective on what is going on in our Country:
Navigating The Great Canadian Housing Bubble with Ron Butler From Angry Mortgage
If you enjoy Ron Butler’s take on the housing market or are interested in hearing his “no-bu!!$#!t” take on mortgages in general, subscribe to his “Angry Mortgage” podcast, a new episode comes out weekly. You will NOT be disappointed. Very entertaining, often angry, honest and very educational. Remember, there is LOTS of swearing!
The “Understanding Macro” podcast (the interviewer in this video) isn’t bad either! A Calgary investor with some very interesting guests. He asks the questions that we all want answers to.
If this wasn’t crazy enough, Statistics Canada likely “underestimated” close to 1 million non-permanent residents in Canada, bringing the true total of “unaccounted for” people to nearly 2 million people! Read about Benjamin Tal’s discovery here: https://www.theglobeandmail.com/politics/article-a-million-more-non-permanent-residents-live-in-canada-than-official/
The good news? Well, as Ron suggests, we may need to bring back purpose-built rentals. This will require government policy change, CMHC and corporations to step up and help make this change to accommodate the millions of people needing affordable housing. In episodes of his podcast he also addresses the need to attract investment in the trades to boost interest in construction of new dwellings. Our skilled-labour shortage only adds to the housing crisis, but it CAN be solved with the right investment. The biggest factor with any of these solutions is time. Therefore today is when change needs to start. Well, maybe yesterday or yesteryear, in hindsight.
What do you think of all this? Feel free to reply and share your opinions on the state of our housing market, and what solutions you would like to see!
Have a great week!
Casey Struck
www.struckmortgages.com
casey@ratefair.ca