Bob Clewlow’s Post

Finally some good news for our economy with the reduction in the key rate to 3.75% by the Bank of Canada. But is that enough to solve the housing crisis ? Developers, contractors, investors, home owners, tenants, aren't only counting on policy rate cuts. A lot more needs to be done in my opinion, with less bureaucracy when it comes to obtaining construction permits, less constraints and challenges with the changing in zoning, especially with places that have been abandoned for a long time, better timing on the SCHL loan approvals, more government helps, etc. In short, we need news ways and think outside of the normal standards. This will certainly lead to more creation of jobs, stimulation in the economy, raising investor confidence in Canadian real estate, and perhaps create more affordable housing. I'd like to see more interactions amd less pointing fingers. Why can't we sit down on a table with key players in the industry, our government and address this once and for all! It's easier said than done, but something has to change. If we don't try, we will never know. In short, this is a great opportunity to stimulate growth in Quebec, Canada, but not enough to solve the housing crisis. #ratecut #boc #bankofcanada #economy #housingcrisis #Canada #multifamily #brainstorm #cre #realestatecanada #investors #newways #quebec #developers #economygrowth

Canada’s income per person has SHRUNK for the 8th time in the last 9 quarters. NDP-Liberal policies of higher taxes & debt means our economy is getting smaller & workers are getting poorer. Common sense Conservatives will fix this mess by firing NDP-Liberals & bringing home productions and powerful paycheque to 🇨🇦: https://lnkd.in/ggAGv-pq

Apologies for the repeat and prescient thought in early March, but in my conclusion on how to rectify Canada's housing deficit, I stated the following. "Given the trajectory of Canada's growing population there are two absolute solutions on housing affordability. We can either grow after tax incomes to make housing more affordable. Alternatively, we can shrink the size and quality of what Canadians consider a home." After the spring budget fiasco announced yesterday and increasing level of taxation, the current government has no interest in growing after tax incomes. Expect Canadian's standard of living and quality of housing to decline. #Canada #Housingdeficit #standardoflivingn #housing

Still a mixed back in terms of housing starts across Canada, as per recent post from Trading Economics. Mostly decreases in most categories, with some exceptions of freehold homes, and markets like Montreal. Otherwise general trend is decreases in housing starts. Ref: https://lnkd.in/geT8M3aP A key piece underpinning this, is the debt load Canadians carry vis-a-vis other leading economies, where our household/ corporate/ government debt is on a long-term arc that needs to be addressed sooner than later.

"There is a clear reason why Canada has the lowest productivity per person in the developed world. There’s a reason why B.C. has only two of Canada’s top 100 fastest-growing companies." "Taxes and over-regulation may seem like a good idea today, but they slowly kill society over time." "The NDP caters to renters, the largest voter base, by capping rent increases to secure votes from those who can’t see the big picture. If rents were allowed to float, developers would have built more units, bringing rent prices down." "The NDP destroys the chance for the average person and their children to reach their full potential." #economics #rentcontrol https://lnkd.in/gDPEGqwm

Housing issues were front and centre in the 2024 federal budget, with the Trudeau government promising to move heaven and earth to fix the housing supply and affordability crisis that has been aggravated by its own foolish policy to rapidly expand Canada's population. The starting point for addressing the housing mess is truly dismal: shelter in many Canadian metros has never been less affordable. And, as shown by Stefane Marion of NBF Economics in this 'hot chart,' the overall housing supply deficit hit a new record in the first quarter of 2024. Good luck with making any tangible progress in the time remaining before the next federal election, particularly since housing starts are expected to drop again this year.

Experts are closely examining the surge in household debt and its impending impact on the Canadian economy, particularly within the housing market. Mark Parsons, VP and Chief Economist at ATB Financial in Alberta, provides insights into the implications of high debt, delinquencies, and foreclosures, shedding light on their long-term effects. Additionally, he reviews Canada's declining productivity trends and offers a positive outlook for the oil sector. #cpa #accounting #cpd #econimics #economicoutlook #canadianeconomy

Benefits of investing in the real estate sector of Canada: 1. Stable Economy:- Canada's Strong and stable Economy provides a solid foundation for real estate investments, reducing risks associated with economic volatility. 2. Safe Investment Environment:- Canada is known for its Political stability, legal protection for property rights, and transparent regulatory environment, making it a safe place to invest. 3. Diversification:- Real estate investment diversifies an investment portfolio, reducing overall risks. 4. Tax Benefits:- Investors can benefit from various tax deductions, such as mortgage interest, proper taxes, and depreciation. 5. Foreign Investment Friendly:- Canada has relatively open policies for foreign investors, making it easier for non-residents to invest in real estate. #realestate #Investsmart #investinrealestate #property #realestategoals