this post was submitted on 22 Jun 2023
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Renters in 36 of Canada's largest cities can't afford to buy a starter home: report (www.ctvnews.ca)
submitted 2 years ago by troyunrau to c/canada
33 comments fedilink hide all child comments
 

FTA: The unaffordable cities:

1- Richmond Hill, ON
2- Oakville, ON
3- Markham, ON
4- Vaughan, ON
5- Richmond, BC
6- Vancouver, BC
7- Toronto, ON
8- Milton, ON
9- Whitby, ON
10- Coquitlam, BC
11- Burlington, ON
12- Brampton, ON
13- Mississauga, ON
14- Burnaby, BC
15- Ajax, ON
16- Surrey, BC
17- Langley, BC
18- Oshawa, ON
19- Saanich, BC
20- Kelowna, BC
21- Abbotsford, BC
22- Guelph, ON
23- Hamilton, ON
24- Waterloo, ON
25- Cambridge, ON
26- Barrie, ON
27- Kitchener, ON
28- Ottawa, ON
29- London, ON
30- St. Catharines, ON
31- Montreal, QC
32- Windsor, ON
33- Kingston, ON
34- Halifax, NS
35- Greater Sudbury, ON
36- Longueuil, QC

And the affordable cities:

1- Edmonton, AB
2- St. John's, NL
3- Regina, SK
4- Saguenay, QC
5- Trois-Rivières, QC
6- Quebec City, QC
7- Lévis, QC
8- Winnipeg, MB
9- Saskatoon, SK
10- Gatineau, QC
11- Calgary, AB
12- Sherbrook, QC
13- Terrebonne, QC
14- Laval, QC

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[–] [email protected] 9 points 2 years ago (1 children)

Capital gains tax on primary residences.

No politician has the guts to do it, but it would go a long way to fix the problem of people using their houses as investments. No home buyer should have to fund someone’s retirement to get a place to live. The feds can make it a more attractive choice to park money in an RRSP or somewhere else.

I say this as someone who through sheer luck of being born when I was, was able to get into the market before it got stupid. The tax would apply to me if and when I sell. I don’t care. I didn’t earn this windfall. Housing affordability is more important.

[–] GrindingGears 2 points 2 years ago

I think it's coming. I agree with all your points, but I think it's inevitable. It's what it's going to take.