After nearly a decade of Justin Trudeau holding power supported by the NDP, it is revealed that home ownership in Toronto and Vancouver is now more unaffordable than New York, Miami or L.A. "Canada’s housing prices have risen faster than any other country in the G7 since Justin Trudeau took office," said federal Conservatives in a recent statement."The month before Justin Trudeau became Prime Minister, it took only 39% of the median pre–tax household income to cover home ownership costs, and today, it takes nearly 60%.""80% of Canadians tell pollsters that homeownership is only for the very rich, and there are 1,400 homeless encampments in Ontario alone," said Conservatives..Not only is home ownership for many Canadians out of reach, the home quality for dollar disparity between the U.S. and Canada is significant. In Vancouver, $1 million buys what some would call a dump or tear down. In LA, $1 million buys a more livable home. Canadians also pay higher taxes than all 50 states — driving home ownership further out of reach. Average Canadian wages are on par with Mississippi. Canada's economy is comparable to the state of Arkansas.Both Mississippi and Arkansas appear to have much higher home quality for the dollar compared to major Canadian cities. .Ontario and British Columbia government fees now make up more than 30% of new home costs, and Ottawa takes the largest share, Conservatives allege, with 39% of total taxes on a new homes "going to politicians and bureaucrats in Ottawa."Conservative leader Pierre Poilievre says he wants to cut the sales tax on new homes under $1 million to save new homebuyers up to $50,000 and facilitate the construction of 30,000 new homes per year."After all, the median home price in Canada is about 50% higher than the median home price in the U.S.," said America's Financial Samurai."The U.S. has stronger income and employment opportunities. Name two Canadian companies that pay well – I bet you can't." "If you think the U.S. housing market is bonkers, you haven't been paying attention to our neighbors up north. Not only is the Canadian housing market more expensive than the U.S. housing market, but average wages in Canada are also lower," said Financial Samurai.
After nearly a decade of Justin Trudeau holding power supported by the NDP, it is revealed that home ownership in Toronto and Vancouver is now more unaffordable than New York, Miami or L.A. "Canada’s housing prices have risen faster than any other country in the G7 since Justin Trudeau took office," said federal Conservatives in a recent statement."The month before Justin Trudeau became Prime Minister, it took only 39% of the median pre–tax household income to cover home ownership costs, and today, it takes nearly 60%.""80% of Canadians tell pollsters that homeownership is only for the very rich, and there are 1,400 homeless encampments in Ontario alone," said Conservatives..Not only is home ownership for many Canadians out of reach, the home quality for dollar disparity between the U.S. and Canada is significant. In Vancouver, $1 million buys what some would call a dump or tear down. In LA, $1 million buys a more livable home. Canadians also pay higher taxes than all 50 states — driving home ownership further out of reach. Average Canadian wages are on par with Mississippi. Canada's economy is comparable to the state of Arkansas.Both Mississippi and Arkansas appear to have much higher home quality for the dollar compared to major Canadian cities. .Ontario and British Columbia government fees now make up more than 30% of new home costs, and Ottawa takes the largest share, Conservatives allege, with 39% of total taxes on a new homes "going to politicians and bureaucrats in Ottawa."Conservative leader Pierre Poilievre says he wants to cut the sales tax on new homes under $1 million to save new homebuyers up to $50,000 and facilitate the construction of 30,000 new homes per year."After all, the median home price in Canada is about 50% higher than the median home price in the U.S.," said America's Financial Samurai."The U.S. has stronger income and employment opportunities. Name two Canadian companies that pay well – I bet you can't." "If you think the U.S. housing market is bonkers, you haven't been paying attention to our neighbors up north. Not only is the Canadian housing market more expensive than the U.S. housing market, but average wages in Canada are also lower," said Financial Samurai.
