The Canadian Reset is Coming...

Prices are too high. With rates not subsidised in ’24 and mortgage still high , currently seeking alternatives to maximize savings without an RV move or taking a loan. I’m seriously contemplating the latter.

Left seven years ago for the Bahamas. Best decision I ever made.

I don't know why everyone is so upset. The Canadian majority ( over 50%) voted for the existing coalition 3x in a row. Here we are.....Whoever would have thought unlimited spending and unlimited immigration would have created a mess. Inflation is here to stay, don't count on rate cuts to save anyone.

Homes are for living in. Things ended up this way because people treated them like the laziest way to retire/get rich. Young people don't want to raise children in 500 sqft, nor do they want to spend a million dollars on a "fixer upper's dream". This will be a country of immigrants and old people if things don't change.

We don't need a rate drop we need a rate increase to bring prices down to an affordable range.I don't care if my home loses value ,at least the taxes can come down with that.The home value rising is only good for flippers and corporate buyers.

Having kids require room and income to up bing them. Young people have no room and no income…

Making decision to immigrate to Canada back in 1991, that was 30 years ago), I couldn’t imagine that for our kids the Canadian Dream will turn into life-long rent of moldy basements or being forced to own a 450 sq.ft. Shoe box condo, for which they have to take $650K mortgage

Our government lives in an alternate reality, look at how the unions responded when asked to return to three days a week. My sister in-law works for the Ontario government. She gets $400 a year for eyewear. Montly wellness expenses such as massages, 4 weeks off a year. She only been there 2 years. And she gets a generous pension. How many private sector people get that. The governments are out of touch and its costing you putting food in your childrens mouths

I see no rate cuts in 2024 which is a belief I've had all year. It's going to get uglier and the hyped up real estate market is an impending train wreck imo.

canada in depression now Peoples can feel it

So many people I know are talking about leaving Canada. It's all about high housing costs relative to wages. It's a bubble and I can't afford to wait for it to pop.

This quote is always miss used but let me miss use it one more time. Every time I hear, "we need to rethink our habits" and therfore be content with less, I hear: "you'll own nothing and you'll be happy about it". I know it's not what the WEF meant by saying this but it still feels like it applies...

I think for me the real estate market is in a funk. We sold our house last year which closed in April and we’ve been renting. We had a huge property by city standards and wanted to downsize. When spring came everyone listed their properties and it went from 600 to over a 1000 properties for sale anticipating a hot market. This was evident by the pricing. The real estate salespeople also encouraged people to list their homes priced for a hot market. But at the end of the day nothing changed from last fall till now. Why are people asking almost a 25% increase in the same homes. This is perpetuated by the real estate industry. It’s great to see so many homes going on the market but if there not priced right they will sit on the market. Hence it takes on a depression atmosphere.

66% capital gains. Why would anyone invest here anymore? Also, you say Canadians are meeting their mortgage payments. Probably because of extend and pretend. Extended amortization has kept payments low.

There should be no rate cuts until Unemployment hits 7 percent.

im 50, i no longer want to live here. feel depressed, im a truck driver and my work just slowed down. from ontario canada.

We need to change if we want change. 1/ Govt needs to downsize and seriously cut programs in order to reduce our tax burden to help us cope with inflation and higher living costs. I want to see the size of the federal government reduced by 25%. 2/ The federal govt needs to stop intruding on provincial jurisdictions. We do not need redundancy. 3/ Canada has its own challenges to work on. We don't need to work on other nations challenges unless there is a substantial mutual net benefit. 4/ Canadians need to be more capitalist. Socialism in the extreme is just as bad as extreme capitalism. Give businesses a break as the owners take risk that benefit us all. Remember that Capitalists gave us the modern conveniences we all enjoy. 5/ We need to work smarter, therefore, we need to give our young people a better education. Speaking as an Ontario citizen, we need to bring back grade 13, cut out supporting two school systems and return to only one public system, and we need to subsidize the cost of our Universities and Colleges for our children. Education is more crucial than healthcare. 6/ We can't afford to tolerate criminal behaviour like we have been. We are not as rich anymore and we need harsher penalties for the crimes that cause the most physical and financial harm. 7/ We now live longer. We have a labour shortage. People should only be able to draw on a pension after age 65. In fact, the retirement age needs to be raised to 68. I am sure there are other changes we should make. The point is that we need to change what we are doing to create change.

I am seeing that seniors who stayed in their starter home, throughout their family stages of raising their children and seeing them leave home, seem able to retire and stay in their homes. Seniors who bought up and up in house size, ended up renting eventually. Just what I'm seeing. What are other people seeing? Good luck to us all! 👍😊

I am not losing hope, i have already given up. If i had any money i would be leaving too.

Hey the immigrants want to stay. It's only us Canadians that can't afford it. Thanks Truduea.