20 Mar Evil Government Responsible for Toronto Housing Market Mess
Policies Designed to Maximize Taxes at Any Cost
If you listened to Kathleen Wynne, Justin Trudeau or John Tory, you’d get the impression that government plays no role in housing availability or home prices. The problem they suggest is evil speculators and petulant Torontonians who won’t buy the shoebox in the sky condos being built all over the GTA.
Fortunately, it’s easy for us to see through their thinly veiled agenda of tax gouging and greed. Their policies have created a housing and investment crisis. And the issue isn’t just high home prices and a likely housing market crash, it’s an ongoing lower quality of life for us all. We should be outraged.
It probably doesn’t come as a surprise to anyone young or old, that politicians are evil. I don’t think we realize just how evil ours are. When politicians put us through the financial wringer like they are, for ideological reasons, and create the market conditions we’re in, it’s justifiable to call them evil.
To Raise Home Prices and Taxes: Constrain Housing Supply
The most effective tactic to raise home prices in Toronto, Mississauga, Newmarket, Vaughan and Oshawa and even Vancouver is to restrict land development and tie up builders in red tape. And while huge tracts of usable scrubland could be developed north, west and east of Toronto, it is government that stops home builders from building and enabling people’s home ownership dreams.
They named their cancerous anti-development legislation “Places to Grow,” a sick joke to those who find themselves homeless, or are depressed that all their income goes to the rich Canadian banks in mortgage payments. And while gasoline prices and food prices rocket here in Ontario, the anger is easy to read. The phrase “urban intensification” instead might be describing Ontario voters angry mood.
The last people these politicians think about is us. At a time when banks and foreign multinational corporations can trade across borders freely and print money and freely move it to avoid taxes, we get trapped in a high priced, high tax, urban intensification zone.
The 3 Worst are the Ones We Voted in!
Just yesterday, Kathleen Wynne said she would utilize all administrative channels to prevent high home prices and higher rents, yet raising taxes, adding taxes and levees, applying rent controls, and punishing foreign investors just makes it worse. And if speculation is happening, it’s because these politicians have created the conditions for big profit dreams. If speculators are vultures, then surely our 3 Stooge politicians are too.
Toronto Mayor John Tory doesn’t worry about it since he like Wynne can collect the inflated land transfer taxes and beef up their “pet projects” funds. Tory doesn’t discuss better solutions because the City of Toronto helps dig itself out of its debt and deficit misery with all the fees associated with housing. And his $8 billion subway dream is what he actually believes Torontonians need most.
Prime Minister Justin Trudeau doesn’t mention supporting moving businesses and people out of the over-congested Toronto region and create jobs in towns that need them. He doesn’t talk about the fact foreign investment in Canada is at its lowest level ever.
He hasn’t mentioned lowering taxes on real estate or gasoline to ease consumers burden. He has reiterated a commitment to more Carbon taxes and a scheme that is very unfair to Canadians who live in a very cold climate. And he has no problem announcing $1 billion aid packages for any country that looks like it could use one.
More Nails in the Coffin for Ontarian’s Dreams
Even if a politician could lower prices through administration, having them drop from $1.3 million down to $1.2 million would do little for home buyers. And while these politicians give their buttery statements about home buyers dreams (which they’ve dashed) it’s ridiculous to think anyone can afford to buy a home now. And homeowners can’t sell because there’s nowhere to go. There are other municipal people who add fuel to the fire, but none are more destructive than Wynne.
Experts including Royal Bank’s president and CEO stated that Toronto’s and Canada’s economy could be damaged by what’s going on in the GTA housing market. So now the risk isn’t just Toronto, instead Wynne’s misery could bring the whole nation down!
When the Toronto housing crash occurs, everyone will be looking at “Places to Grow” as a simple political scam that should have been de-loused long ago. The sound will be so loud, even Justin Trudeau will hear about it from his hotel room in Nigeria, where he’s handing out more Canadian money.
While we’re waiting and wondering when the housing bubble will burst, we should begin planning new political representatives in Toronto, Ontario and Canada. The ones in office have failed to protect our interests and create sustainable economic conditions. As Donald Trump says, “You’re Fired!”
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