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- Thread starter TAS
- Start date
policyenthusiast
Senior Member
As great as all the GoC support for affordable rental housing has been, it does beg the question of when we're going to see on-market housing get the attention it needs. Subsidized/below market rents are important as the bottom rung of the housing ladder, but if we're only building the bottom and the top (high-margin detached homes), home ownership is going to remain impossible for many Canadians.
David A
Senior Member
Maybe Canada will become more like some European countries where renting is not some sort of stigma or shame, or if housing prices in some overpriced markets continue to come down and interest rates decline a bit, perhaps home ownership will again become more affordable for those in the middle.
constance_chlore
Active Member
There was an interesting exchange between Oh the Urbanity! and urban planning/transportation guy Marco Chitti on Bluesky about home ownership norms a couple months ago. Oh the Urbanity! were arguing that while home ownership should be accessible, the anglosphere is too fixated on it as an end goal. Marco (who lives in Montreal but is Italian) responded that the preference for home ownership seemed pretty close to universal, and that many Italians too would talk about renting as throwing your money away. He wrote: "The only notable difference is that the house is not seen as a way to build up your retirement (b/c public pensions) but as the largest heritage most people will leave to their children. Also, in general Italians use borrowing much less for purchasing their home compared to North Americans. Most of the housing stock nowadays is owned without a mortgage on it."
I don't find it surprising that people want to own. I do find it surprising that there's such a negative perception towards condos or (owning) townhouses/rowhouses. In much of the world, these are the norm and people don't seem to be so much the worse off for it!
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David A
Senior Member
Yes, a lot of people North America do seem to look at their home as an asset they can eventually sell, although more seniors now are actually aging in place (as much as they can) for various reasons.
I am also a bit surprised by the current negativity particularly about condos, part of the rationale for buying them was to build up equity as opposed to "throwing away money on rent", then using that equity to later buy a house. However, this doesn't seem to be working as well now as prices are not appreciating much for condos and in some cities have declined.
Perhaps increasing income inequality also means more people will either be renters or own single family homes with not as much in between, particularly in places where prices are higher.
I am also a bit surprised by the current negativity particularly about condos, part of the rationale for buying them was to build up equity as opposed to "throwing away money on rent", then using that equity to later buy a house. However, this doesn't seem to be working as well now as prices are not appreciating much for condos and in some cities have declined.
Perhaps increasing income inequality also means more people will either be renters or own single family homes with not as much in between, particularly in places where prices are higher.
policyenthusiast
Senior Member
Equity is held in residential properties no matter what - the difference is largely in how North America has businesses built around capturing and holding that equity. To my understanding, REITs are less common abroad.
kcantor
Senior Member
Not only are REIT’s pretty common elsewhere, in many jurisdictions they circumvent foreign ownership restrictions on investing in real estate. It’s Audi worth noting that many of the larger REIT’s are international in their scope and their holdings.
There are also many pension funds and life insurance companies operating in many jurisdictions and investing in real estate assets in many jurisdictions, not just in their home markets.
policyenthusiast
Senior Member
'When it’s full, it’s full': Canada Strong Pass raises overtourism issues in Banff
Banff is considering asking other levels of government to help them turn away tourists when the town is "at capacity".trevorhayden
Active Member
CS pass should exclude Banff and Jasper Parks.
David A
Senior Member
Banff is definitely over run, Jasper not as bad.
Avenuer
Senior Member
Yup, I hope it stays that way. I go to the mountains for nature, not people. Banff is too crazy now to visit and now wonderful places like Moraine Lake and Lake Louise are more difficult to access due to their popularity.
policyenthusiast
Senior Member
Might still be compressed numbers due to the fire - I wouldn't be surprised if it's years before people understand that the Town has rebuilt super quickly.
constance_chlore
Active Member
I wouldn't mind the crowds at Banff if they behaved themselves. We need to bring in the Berghain bouncers to deal with some of those folks. Park rangers are just not trained to manage the most entitled people on the planet.
SarcasticMarmot
Active Member
As I understand it, the Park Rangers no longer have a public enforcement mandate. Their role is now exclusively public education/environmental conservation. The enforcement role was turned over to the RCMP a while ago. I'd need to look up the specifics, but there are alot of pieces they used to do that they are no longer allowed to.
Gronk!
Senior Member
I always pass through Banff on my way to Radium or Golden.
Where are these statistics for Elk Island National Park?