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Canada's surging cost of living fuels reverse immigration
(www.reuters.com)
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this post was submitted on 09 Dec 2023
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Trudeau's utter failure to take housing costs into account is telling. He seems to have become blind to the needs of the people.
He may well lose the next election because of it ... and Canada will end up with a right-wing mess in Pierre Poilievre. :/
Yeah, we're f'd even more when PP/Milhouse takes over. Maybe we'll elect non-Conservative parties at the provincial level when that happens and start the cycle the other way.
People are forgetting Conservative premiers aren't helping anyone but their private donors.
It'd be great if it was just Conservatives that got us into this mess, but every government for the past few decades has been complicit.
The federal Liberals cut housing initiatives during the 1990s, which got CMHC out of the non-market housing business. Individual provincial governments did the same thing around the same time.
A lot of that came about because Mulroney left us in deep debt. In '93 the Liberals changed the transfer payment sharing from 50/50 fed/prov split to something far less ... and as you said nobody did anything to fix after.
I'd call exempting primary residences from capital gains the first major (federal) misstep that lead to the current housing crisis. That was 1971.