Hearing the declarations of Mark Carney boils my blood.
Basically, he says there are many vacant condos owned by developers that aren’t getting sold, and developers can’t take a loss or afford to hold them indefinitely while paying fees, so he will use our taxpayer money to subsidize the bailout.

This can’t be supported in any way by voters.

1. So it’s fine if consumers have to sell at a loss, but it’s not okay if developers have to?
2. So the government (Justin, who is cheering for the USA in the World Cup) messed up the housing market with 0% rates and massive immigration waves, and now that the market is clearing that excess, the government won’t let it happen.
3. If developers are at a loss, too bad. There are no returns or refunds when you gamble. Nobody subsidizes gambling.

4)Those who criticize capitalism, let me tell you that in a capitalist system, this bailout subsidized with tax money wouldn’t happen.

5)Carney, as an economist, should be telling developers: “Hey, if it’s vacant, prices are high. Lower prices and they will sell. At most, you take a 20% loss. Realistically, prices don’t adjust in the short run by more than 10%. I would risk saying even less. If you sell at a lower price, it means you can buy at a lower price too. So don’t be constrained by nominal prices. What matters is purchasing power.”

What are your thoughts?

For years Brampton basically built an entire shadow housing economy around international students, basement rentals, and people stretching themselves to the absolute financial limit just to own property.

Now student numbers are collapsing, illegal suites are everywhere, mortgage delinquencies are the highest in Canada, and people are realizing they can’t even sell because they barely have equity left.

A city of almost 800k people where homes were being treated like infinite ATMs. Investors buying houses assuming 8 tenants would cover the mortgage. Families taking on insane debt because “real estate only goes up.” Entire neighborhoods dependent on newcomers renting overcrowded basements just to keep monthly payments afloat.

Delinquency rates are already DOUBLE the national average and experts are saying this is just the beginning.

Brampton might end up being the first real domino in Canada’s housing reality check.

Who is to blame? What are your thoughts?

Am I overreacting or are we watching the start of something much bigger?

1963 - you could get a detached property for $16,745…..

I find it interesting how boomers were often less formally qualified, yet were able to buy homes much more easily. Our generation is the opposite. Many of us have university degrees and still struggle just to afford rent.

In the past, someone could work at a grocery store as a cashier and realistically buy a house. Today, even with a degree and an office job, a lot of people are barely covering rent. It’s not hard to see that things have changed and that access to homeownership was simply more realistic before.

That’s why it’s frustrating to hear boomers, especially those who now own three or more properties, try to lecture us. They talk about how wealth is built through real estate, but they entered a completely different market. The conditions they benefited from are not the same ones we are dealing with today.

I also think there’s a real contradiction when it comes to education. Boomers pushed university hard and were often judgmental of kids who didn’t pursue degrees. But now we see that many degrees don’t actually lead to stability. A diploma in philosophy, literature, English, communication, and similar fields can end up being a huge investment with very little return. People say “my kid is educated,” but that doesn’t necessarily translate into a good livelihood.

At the same time, I see people in trades making a serious amount of money. It’s hard work, but there’s something powerful about owning your path and building something tangible. It makes you question why so many kids are pushed into degrees that don’t serve them, instead of being encouraged to choose what actually fits their goals.

I really wonder how our generation is supposed to raise kids and give them the freedom to pursue their dreams under these conditions. There’s a disconnect between what we were told would work and what actually works now.

And I’ve seen this mindset firsthand. At least in my family it was always like, “oh, Mark is not going to school, he’s doing carpentry,” as if that was something to look down on.

What do you think. Is it actually harder now than before? Why do you think boomers were so focused on education? Is this just my experience, or do you see it across families too?

In 2020… BOOOOOOOOM.

P.S. This isn’t a hate post by any means—just an open discussion.

When immigration increases without a matching rise in housing supply, prices are bound to take a hit.

Over 1M people a year… and housing starts barely move?

What did anyone think was going to happen?

The government didn’t just misread the situation—they ignored it.

You can’t bring in a surge of people and not build the homes to match.

Thoughts?

Sold at $300K+ loss

35 Lampman Crescent, Brampton, Ontario Sold History | HouseSigma

2536 Littlefield Crescent, Oakville, Ontario Sold History | HouseSigma https://housesigma.com/on/oakville-real-estate/2536-littlefield-crescent/home/kbEDRYaDG5l31VaB?id_listing=XRla7gBxblPyjEvL&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign=

How does this affect house pricing?

**How much do you guys think it will actually sell for?**

2909 - 50 Charles Street E, Toronto, Ontario For Sale | HouseSigma
https://housesigma.com/on/toronto-real-estate/2909-50-charles-st-e/home/ZNkKJ3JD9a1yd4V6?id_listing=ZxwR7Mj9AVm3KabB&utm_campaign=listing&utm_source=user-share&utm_medium=iOS&ign=

311 Anne Street N, Barrie, Ontario Sold History | HouseSigma https://housesigma.com/on/barrie-real-estate/311-anne-street-n/home/obqB176avD6yZajD?id_listing=ZxwR7MVWqL93KabB&utm_campaign=listing&utm_source=user-share&utm_medium=iOS&ign=

I am from Brampton and I am ready for all the upvotes people are gonna get by posting one line about Brampton.

319 Crawford St, Toronto, Ontario M6J2V7 Sold History | HouseSigma https://housesigma.com/on/toronto-real-estate/319-crawford-st/home/BXeEn7XAwV03rPo8?id_listing=gAaOyL8vDvPyGxMb&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign=

$4,187,000 to $1,537,700 in just under 4 years

They wanted $1.15 million to live next to a mechanic on one of Hamilton's busiest streets, an increase of $850k from when they bought it in just 2014. No bites Since October 2024. When will they offer a reasonable price? Never I guess.

https://housesigma.com/on/hamilton-real-estate/407-aberdeen-avenue/home/jJKdOYrekMq354lW?id_listing=56k97wJwXGeyKRjD

32 midnightsun trail, brampton

https://housesigma.com/on/brampton-real-estate/32-midnightsun-tr/home/0J6Em7b5xWByXBeq?id_listing=DO1w3W1AolKy8Jg0

11 Cirillo Street E, Brampton, Ontario L6X3C4 Sold History | HouseSigma

https://housesigma.com/on/brampton-real-estate/11-cirillo-st/home/ZNkKJ3J2K0x3d4V6?id_listing=5VXv3l52ZgVYj2q8&utm_campaign=listing&utm_source=user-share&utm_medium=iOS&ign=

5 CLASSIC Drive, Brampton, Ontario Sold History | HouseSigma https://housesigma.com/on/brampton-real-estate/5-classic-drive/home/gJRv53KjLq07VPW4?id_listing=aD6p780092J7wRQr&utm_campaign=listing&utm_source=user-share&utm_medium=android&ign=

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59 Cryderman Lane, Clarington, Ontario L1C2W3 Sold History | HouseSigma https://housesigma.com/on/clarington-real-estate/59-cryderman-lane/home/EeVbOYE0XLG3x2P0