Is Canada about to destroy its economy with the biggest housing bubble in history?

If you've lived in Canada for the past decade you know that the prices of homes have been on a meteoric rise. It's almost as if the prices of homes will never come down. This colossal rise in prices has created the biggest housing bubble in Canadian history!

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#canada #canadianeconomy #justintrudeau

00:00 Introduction
02:07 How we got here
03:30 Foreign investors and money launderers
04:50 Properties went from homes to investments
05:37 Desperate times calls for desperate measures
06:32 It will take a herculean effort to solve this crisis
08:19 Things have only gotten worse in recent years
10:15 The bank's gimmicky solution
11:40 Can this crisis be solved?

[debacleeconomics]

What can Canada do to save its housing market? Are homes overvalued in Canada?
If you liked this video please consider liking, subscribing and sharing the video. Thanks for watching!

[creamrising]

I used to live in a 3 bedroom house in a beautiful NW Calgary neighborhood and had two cars. Now I live in a trailer park and take the bus, just to stave off the inflation.

[nkb]

Government, politicians, and lawmakers are totally responsible for this mess.

[Cespasbeau]

Bubble theory had been out there for quite some time. Luke at "Market Mania" discusses this often, however many want to constantly run around with their eyes closed. When mortgage renewals hit, a large vroup of home buyers will be hurting, forcing sales, perhaps at losses too.

[mortsims]

canada has let way to many people move to their country with no available housing for them, thus causing a bubble.

[GearsDemon]

Young people are fleeing, newcomers are realizing the situation after arriving, and boomers are dying. Not hard to tell which direction the market is going to go.

[SLYZANY]

Bro. there's so many abandon homes and thousands of tents. its disgusting. Theft is wild!!! cars homes and so much more

[tonyzr-lgxv]

We the people should ask ourselves who is the government aren't we supposed to be in control or is it the other way around, are we just a bunch of fools to allow this to happen no one and I mean no one should pay another nickel in taxes its time they give back to us not everyone else on the globe or on themselves this is just plain ridiculous how we allow this to happen.

[John-uly]

I make over 70, 000 yr and live in my car

[maxcloutier]

As long as mass immigration will thrive, home prices will remain high. Where I live houses for sale are scarce. And why would somebody sell his house to rent when it cost the same price ?

[jizzaymz]

Hoping the housing bubble pops so those of us (the majority in fact) can finally buy a home. Homes shouldn't cost more than $200k. Hoping for a massive POP

[vaughanhopkins]

Greed in every step starting from the lumber yard to quick build builders selling for a 200% mark up they aren't going to sell at fair price ever again when they know they can get rich ripping off the consumer

[kcuhc]

The video states that it's a question if WHEN the bubble bursts.
What happens to house prices when the bubble bursts?

[janridingfast]

Strange this is happening everywhere, not just Canada. Here in America, rumblings are that much of the buy out is corporate. They started in 2008 with low house prices, low interest. For primarily rentals. Even Bezos of Amazon runs a website where people can invest in the purchase of homes as rentals. Now "affordable housing" means government subsidized aka low income...which is where more and more people find themselves.

[Mike-tyzo]

Houses in Edmonton are still relatively cheaper now.

[robertlee]

Funny, but does anyone know the real reason behind the housing shortage?
Look up "Canada's 1.3 million empty homes", an article written over 3 years ago.
Inventory is artificially kept low to jack up prices. It's like this all over the world
Canada isn't the only one with this problem.

[thebigleone]

Remove ALL the red tape and bureaucratic garbage so home builders can get after it.

[TURBOINTEGRATYPER]

Amazing that a Canadian who makes $100k a year is struggling to buy a house but newcomers working at Tim Hortons delivering coffee are buying $900k houses and driving brand new cars

[buddy-ccpw]

Just let low income earners deduct mortgage interest on their tax return, it will help affordability...

[workstationmark]

It is because of law. If the law stated that anyone over 18 was force to build homes for two years(paid) and after that was guaranteed a minimum 10m2 apartment for half price due to service this crisis would be over