"Financially paralyzed": Half of Canadians living bill-to-bill, poll finds

[Woodznutz]

The basic problem of going from renting to owning has been going on for generations, and in the geographical regions where people want to live - no surprise - it is worst.

In the late '60's my brother in Los Angeles asked my dad for help with a down payment on his first house, and my dad declined because he said he didn't want to put himself in a position where all five of us would be coming to him for similar help; he simply did not have that much to spread around (he was living in my house at the time, which he did until he died in 1991).

Two years later, the house that my brother was looking at had increased in value by 50%, and he was even further away from that elusive down payment.

Economists tell us that the explosion in rental costs is simply a matter of supply and demand. In places like San Francisco, local "green space" requirements and zoning restrictions - as well as geographical limits - severely constrain the creation of new rental units, so that rents skyrocket. Rent stabilization laws cause landlords to scale back on property maintenance, creating shit-hole apartments that are featured in newsreels from time to time.

The best the government can do for rents is to get the hell out of the way of utilizing existing space and new development. In Pittsburgh, where I live, the City owns thousands of vacant properties that could be bought, renovated, and brought back on to the tax roles EASILY, but regulations, zoning restrictions, and an entrenched bureaucracy keeps them vacant and deteriorating. Any new apartment buildings have to have a significant percentage of "affordable" units, a requirement that scares away any rational developers, and limits activity to those who are willing to play the various games and exploit all the available give-aways. Hence, new housing developments are extremely rare as complaints about high rents proliferate.

Government planners want expensive homes built for the higher property taxes they provide. They need more taxes to pay for the failures of their other projects. Home ownership across all economic levels is vital for a stable society. Sadly, most legislators don't see it that way.

 

[leftwinger]

The government doesn't make a person's financial decisions. Those have to be made at home. People cannot continually live beyond their means. That means beater cars instead of a new one every three years. Cut rate clothes, no Sunday ticket television, etc. It is amazing that once out of debt, a person will learn to save and buy without paying that extra 14-26% interest forever. Don't get me wrong, debt has a time and place, but it has to be carefully used and government will screw it up if you depend on them. They can't even keep their own financial houses in order. If someone in debt depends on the government to save them, they are doomed.

No beater car will get you to work thru Canada winter. Like in USA affordable rents are often far from job areas (see CA). It is never easy.

 

[Concerned American]

Like in USA affordable rents are often far from job areas (see CA).

My last job in CA lasted 33 years and I lived 5 miles from door to door. Commuting for more money is a fool's errand. The extra money is wasted on fuel, vehicle depreciation and repairs, stress and time on the road.

 

[leftwinger]

My last job in CA lasted 33 years and I lived 5 miles from door to door. Commuting for more money is a fool's errand. The extra money is wasted on fuel, vehicle depreciation and repairs, stress and time on the road.

Apts aren't cheap nearby Sunnyvale CA. If you can find one. $2K? They are cheaper in Los Banos. $1K with less rules. Maybe 4 Mexicans to a bedroom overlooked.

Buying a home? Forget about it. You are driving in if you work low level Siicon Valley jobs.

 

[Concerned American]

Apts aren't cheap nearby Sunnyvale CA. If you can find one. $2K?

LOL, you'll find a garage in Sunnyvale for $2K.

They are cheaper in Los Banis.

Sure, they're cheaper in Los Banos or Newman or Patterson, but what you save in rent, you spend on the two hour commute each way. Better to find a job in the central valley.

Buying a home? Forget about it. You are driving in if you work low level Siicon Valley jobs.

Screw the Silicon Valley--jobs are available in every town in the central valley--you may not make $50/hr, but you won't spend it all on the commute either.

 

[Foxfyre]

Once a person gets into dire financial straits, there is NO EASY WAY OUT. It takes sacrifice and discipline to regain that independence. That means a lower standard of living until the debts are caught up. That is a hard lesson to learn, but most people who navigate it successfully will never be in the hand-to-mouth situation again.

This is so true. You can live on credit for only so long and sooner or later uncontrolled and/or irresponsible debt will take you down.

That is true of countries as much as it is true of individuals/families.

Those in the family will often object to the painful austerity required to turn all that around. I NEED new sneakers, I NEED a new mobile phone, I NEED a new tablet etc. etc. etc. Making do with stuff we already have and is likely entirely serviceable feels like punishment.

And when responsible government tries to rein in excesses you get that same kind of thing. The 'evil' government is hurting the working class, hurting families, hurting seniors yadda yadda yadda. And because public opinion translates to votes that keep them in power, the powers that be require an enormous amount of integrity and courage to do the right thing instead of the immediately expedient thing. And few elected leaders these days have that kind of integrity and courage.

We are blessed with a President Trump and at least some in the GOP who are willing to at least try. Canada seriously needs that kind of leadership too and enough people with a MCGA mentality that he/she will be able to get it done.

 

[MayorQuimby]

I have always thought that Canada had a good standard of living.

That was before the J*ws reached the top of the government and took over and ran everything into the ground.

In short, as I predicted 20 years ago since we didn't change course, our fate will be that of the former East Germany. The Toronto Police are just one of many agencies responsible for this assured collapse.

I love how you keep crying about the Toronto Police, when in fact you could have, and probably should have, been crying about the CSIS, or some other federal level intelligence agency that is of a similar nature.

Police don't really do jack, I mean they sometimes do bad things, but nothing too horrendously bad. It is the ones at the top, federal level that we need to watch out for, and warn other Canadians about. These feds have no compunction about hacking into people's computers without a warrant (this technically is criminal malfeasance), setting up sting-operations that are virtually indistinguishable from entrapment, gang-stalking people into killing themselves...etc etc. Did you know this? Well, now you do. Now go out there and spread the word, instead of crying about the police. Everybody knows you are trying to take the focus away from the real bad guys.