Opinion Should It Be Illegal to Evict People

[Err]

Sounds like someone is going to have to make a longer commute.

There are no Canadian cities which have real estate within commuting distance for under 200K. That number is realistically probably higher, to be honest, but I haven’t done research.

 

[shankmcgank]

Sounds like someone is going to have to make a longer commute.

Not this guy.

I was lucky to get in 6.5 years ago before prices skyrocketed. My house has increased in value 2.5x since I bought it, and that doesn't take into account all the extra work that's been done inside.

A 1980s era semi-detached (townhouse) around the corner from me, on the same street, sold for $379,000 2 months ago. It needs at least 30k inside, a complete gutting is required.

$400k+ for a semi in Niagara - it's insane.

The reason Canadian's "whine" about housing prices is because of how ridiculous they are. The government even stepped in with a foreign buyers tax of an additional 15% on the purchase price because so many non-Canadians were buying property here.

In an effort to try and make things easier than impossible for first time home buyers to be able to purchase their first house, they came up with this epic failure.

"
The federal First Time Buyer Incentive (FTHBI), introduced in September 2019, has so far been used by only 29 buyers in Metro Vancouver and fewer than 3,000 first buyers across Canada.

Calling the program “a flop,” Sherry Cooper, chief economist at Dominion Lending Centres, noted that total funding of $55 million was “less than a stellar start” given the FTHBI’s $1.25 billion three-year target."

https://www.vancouverisawesome.com/...buyer-incentive-canada-flop-vancouver-2069969

I agree with you, that if you can afford rent, you can afford a mortgage on a property that your salary realistically allows you to purchase.

Most Canadians feel the same way, the "whine" is because people can't work their 40 hour week at a $15-$20/hr job and afford to save up the government's mandatory 20% down payment.

So how is someone who works 5.5+ months of the year for free (taxes) at $15-20/hr supposed to pay all their bills AND save $100,000? It's impossible, and maybe that's a part you hadn't thought about in regards to Canada. Most Canadians are working to live and live paycheck to paycheck.

Average Canadian salary is $55 000 CAD, then, you pay almost half that in taxes, leaving an average Canadian with ~$30,000 take home, and then the bills have to get paid - rent, food, phone, internet, etc. That doesn't leave much to put away, especially when you're staring at $100,000 down

Sure, we have our rich folk, as I said above, but the convo isn't about them, as they can pretty much afford whatever house they want.

Toronto is even worse, average house price now is $1,022,000 and it went up over $100,000 this year, during a pandemic.

 

[HeffDoesWant]

Nothing, you made your stance clear. Nobody should be held responsible for their rent or mortgage... I was just replying to @Carol Baskin's ex-Husband question. He asked what your reply was.

You clearly misunderstood what I said.

Nuance is hard for some people, you must be one of them.

 

[Bia]

it's illegal to not paying rent in first place, then the landlord have the rights to evict. Unless there's government funding to assist with the renters through hard time then I don't see any issue with it.

 

[High Altitude]

No pay, no stay.

 

[MichiganMMA1978]

You clearly misunderstood what I said.

Nuance is hard for some people, you must be one of them.

Nope, you stated the banks should be expected to eat the cost and not be able to evict them if I'm not mistaken? I very strongly disagree... Please explain how that will help anyone?

 

[HeffDoesWant]

Nope, you stated the banks should be expected to eat the cost and not be able to evict them if I'm not mistaken? I very strongly disagree... Please explain how that will help anyone?

I'm saying banks charge interest on debt knowing that they are taking a risk.

You seem to want them to earn profits from risks they aren't taking, this is not how finance works.

 

[MichiganMMA1978]

I'm saying banks charge interest on debt knowing that they are taking a risk.

You seem to want them to earn profits from risks they aren't taking, this is not how finance works.

What the fuck are you talking about? How are they not taking a risk? You do realize that when they foreclose on a house 9+ times out of 10 the house is in rough shape and not worth what is owed on it...

 

[HeffDoesWant]

Did I say that? Nope.
But this was a problem before covid, and no, a lender should not be asked to take a loss. Especially when they have a contract. You've never owned property that you've rented out before huh?

What the fuck are you talking about? How are they not taking a risk? You do realize that when they foreclose on a house 9+ times out of 10 the house is in rough shape and not worth what is owed on it...

What did you mean by "no, a lender should not be asked to take a loss"?

 

[MichiganMMA1978]

What did you mean by "no, a lender should not be asked to take a loss"?

Losses are going to happen, that's just a reality. They should not be expected to let people keep a house, when they defaulted on a loan. To stay in business, and able to keep giving loans, they need to be able recoup what they can from the property that was defaulted on. Otherwise, they'll go out of business, if everyone was exempt from losing their house.
Sorry if I missed anything, or rambled a bit. 6am Christmas morning and all...

Either way, agree or disagree, have a merry Christmas sherbro