@Kaygee79
I work as a Building Inspector in Ontario and from my daily visits to job sites I can tell you there is no way they can build fast enough. Not only the zoning problems you mentioned, they have made them more complicated over the years instead of simplify them. Then on top of that you're stuck in the approvals processes, yes you're limited in what is allowed but depending on the area you are targeting the people in those areas may be fighting hard not to let their spacious neighbourhoods turn into tight ones with higher density etc. But that is a losing battle as is mentioned in your video the volume of people slated to come into Canada is not being stalled so the only way to make room is to densify what is already here. This is not going to change and that is the big picture. Also most of the people playing in the housing markets in big cities are already in from before, or are coming in with big money, or pooling money together, that is the only way to play now. Otherwise rental for life is already the new normal living here. The past is gone and the value of money is gone down. If you're making 100K assume it is 50K value or less now compared to 10 years ago. You have to make way more money to be able to own. There is also a shortage of trades so those who build are delayed, shortage of materials which causes more delays so construction falls further behind each day. So even if they issue more permits you don't have the man power right now to deliver at the speeds being spoken of. Houses that should have hit the market last year all got delayed into 2022 and are being finished now so everything is behind. Also instead of hiring more people to review plans, more inspectors to inspect they are losing people to retirement and more shortages of staff so people jump from one municipality to the other or go back to private sector. Again a municipal job has fallen behind in pay so it is much more lucrative to go back to private sector to make a living given how expensive it is to live and survive these days. With interest rates going up, all that will do is stagnate momentarily the rise in prices. But once that settles, the prices will jump once more and probably double up again sooner than later due to inflation alone compounded by supply and demand. If you don't have to "hand in your keys" and find a way to hold on to your house, find a way a do it, because it is your last hope. If you give it up the prices will take off again and then you're really done for. All the people who have money will snatch up the houses anyways because they are the only ones who can play. Rich and poor will be even more evident, I'm sure socially we'll see the effects of that as well. It's not looking pretty for our futures here, especially if you're starting fresh with no money. That being said, great video, you covered the topics in depth and I agree with a lot of what is being said in here! Cheers!
@Harperrr.99
Great video Aaron, In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
@spikonn
blame on immigration , more people = more demand and that is why we see bidding wars going for rental place too ,not only for buying a home.
@matricci5310
This channel needs a lot more subscribers! Excellent reporting!
@jk-ny7tn
This makes me mad why do we have idiots in our government. It’s obvious they don’t care about the people
@SunRise-ul7ko
As some who owns a house in Sydney Australia, it's disgusting. Same thing in Australia. They want to destroy the right for people to afford a family. I now own a house, however I will never afford a family. You can't have both, because you need a double income to pay it off, & once you pay it off, your to old to have a family.
@justadude117X
how do you not have more subs? love your content dude. keep it up!
@dukejivetalker7541
Foreign investment and lack of supply. Real estate agents in BC are the lowest form of life.
@laurafulton7023
Why does British Columbia’s BC Housing prioritize new foreigners over Canadians who’ve been on waiting lists for years?
@alborzdmavandi8190
I'm 50 and from a 3rd world country in the Middle East (Iran). My family and I immigrated to Canada (Vancouver) in 2018 for a better life. I was an attorney in the Ministry of Energy for 18 years and my wife was a first-grade teacher for 22 years we had a decent life in finance (I agree that the Iranian regime is a religious dictatorship and one of the worst). We left home and came here because of lies Canada's government advertisements about Canada. We lost everything. No safe society, no normal income, drugs, crimes, homelessness, old and dilapidated infrastructure, and a lot of dirty and unclean areas and neighborhoods. Before moving here we traveled in more than 26 countries (poor and rich), I never saw a country like Canada because of its unreality claim and its reality you can see. Your programs on crime and housing prices were excellent. I hope the number of likes, subscribers, and shares of your channel will increase more and more so that the Canadian government may wake up and help people and cities. You are our voice. I appreciate.
@warden6032
Aaron, you do great journalism, keep up the good work.
@alexw2609
Blown away by the quality of this video A++. I currently make 100k a year and live on Vancouver Island. I'm 29 and would like to start a family in a few years. I still don't see how I could possibly afford or justify purchasing a house in this current market.
@b.neallee7042
This is such a great video. I think Americans are going through the same thing. Calling loans for credit cards, house loans, car loan is nuts 75 grand for a truck ? 50 % tax rate plus health insurance is crazy.
@alexlechef2
Well made documentary!
@lmtada
Simple. Low interest rates. Today as interest rates rise, demand is dropping off the cliff. Supply increasing. Prices have one way to go…down. Expect 50% drop in current prices next 36 months.
@RuffusJones
These videos are slick i'll give you that but just as Vancouver Is Dying was an advertisement for increasing the police budget this is an advertisement for real-estate developers so that they can develop endless urban sprawls unchecked because what do they care if a new development isn't walkable or livable without a car and they don't care that new developments means more infrastructure to maintain because that's the city's problem and the tax payers problem.
@cherkovision
To be fair, at 7:47, I'm pretty sure that area between Science World and Home Depot is underdeveloped because it's barely above sea-level, so the entire area could get wiped out quickly by a tsunami or slowly by global warming.
@dinoa9608
Great content and production. I did notice you did not want to expand on the money laundering and the impact of buyers from Asia. The stats are murky and the government wants it that way.
@alison9189
I've lived in Saanich my whole life, and it's been incredible to see the changes in victoria over the last 23 years! Thank you for this video! Incredibly powerful and thoughtful. Bravo 👏 🤩
@KushagraGondhali