Trudeau’s man-made housing crisis
A bombshell new report exposed Trudeau’s man-made housing crisis. This report reveals how Trudeau ’s reckless policies sent housing prices into the stratosphere, crushing the dreams of average Canadians.
Was this crisis really unforeseeable? Or did trudeau have warning signs he ignored? Turns out the PM was tipped off about the coming storm directly – but chose to stay the course, full steam ahead.
Poilievre foresaw this crisis. He is now promising to steer us out of Trudeau’s mess and fix what’s broken in Canada’s housing market before it’s too late.
The report exposed the fiasco Trudeau created that’s about to make us the least affordable country on Earth.
You’ll be shocked when you discover how deep this crisis goes and who’s really to blame.
The truth about Trudeau’s man-made housing catastrophe is about to be laid bare. And it’s going to be one heck of a bumpy ride.
When will Trudeau stop blaming others and take accountability for his man-made housing crisis?
Trudeau Failed to Increase Housing Supply, Damaging Affordability
Explosive findings from a new report from the OECD reveals that Canada is about to snatch the title for the most unaffordable housing market worldwide.
For years, Prime Minister Justin Trudeau has allowed unsustainable levels of immigration and failed to address the growing housing supply shortage, leading to skyrocketing home prices that are now entirely out of reach for the average Canadian.
Rather than taking responsibility for his role in creating this crisis, Trudeau is shamelessly pointing fingers at former PM Stephen Harper, despite the fact that Trudeau has been in power for over 8 years now and has more than doubled Harper’s annual immigration targets, overwhelming Canada’s housing construction capacity.
Conservative MP Pierre Poilievre has long been highlighting Trudeau’s role in Canada’s housing crisis and vows to address it differently. Poilievre emphasizes that Trudeau has been Prime Minister for nearly a decade, yet insists on blaming past administrations for current failures. According to Poilievre, the Liberals have had ample opportunity to tackle the housing shortage, but instead, they’ve worsened it with reckless immigration policies.
Poilievre is not just talk, though. He’s got a solid plan to tackle this mess. If he becomes Prime Minister, he promises to stop wasting cash on useless projects and put it towards fixing the housing problem.
Plus, he wants to hit pause on immigration until we sort out this housing demand-supply mess. Poilievre calls out Trudeau for not having any real plan besides playing the blame game.
Poilievre always had a gut feeling that Trudeau and his liberal crew were spinning lies and pitching impossible housing plans. Trudeau’s housing promise would practically need a new home built every minute. Talk about reaching for the stars!
According to the OECD data, Canada now has the second highest housing price-to-income ratio in the developed world after Portugal. However, experts project Canada will surpass Portugal in the coming months as Portugal’s housing bubble hits a ceiling.
This means Canada will officially become the most unaffordable housing market across all OECD countries. It’s a dubious distinction that demonstrates the abject failure of the Trudeau government’s housing policies.
Is there anything in Canada that hasn’t taken a hit under Trudeau’s watch?
It’s not just about buying a house anymore – renting’s turning into a nightmare too. Check out these jaw-dropping rent prices: over $2,610 for a one-bedroom apartment in Toronto and a whopping $3,000+ in Vancouver! And guess what? With wages stuck in neutral, tons of hard working Canadians are on the brink of homelessness.
The latest data from RBC Economics found that home ownership costs have hit their highest levels ever in the fourth quarter of last year.
They estimated the average Canadian household now has to spend a staggering 63.5% of their pre-tax income just to own a home at current market prices.
And get this – with the typical household bringing in around $85,000, trying to buy an $800,000 home? Yeah, good luck with that math. The reality check? Thanks to the Bank of Canada jacking up interest rates, Canadians’ home-buying budget has shriveled up by a whopping 22% in the last year.
But wait, there’s more! While prices are barely budging, dropping less than 2%, it’s crystal clear: there’s a serious supply problem. Without enough homes to go around, the market is stuck in a rut, unable to match up with what people actually earn.
Vancouver, Toronto, and Victoria saw the largest deterioration in RBC’s affordability index. But other major markets like Ottawa, Montreal, and Halifax also reached their worst affordability levels ever.
Not long ago, the prospect of owning property was a realistic goal for many Canadians. But in Trudeau’s Canada, home ownership has become a pipe dream out of reach for all.
Trudeau’s failure on housing is made even more egregious by the fact his government was repeatedly warned about the consequences of unchecked immigration growth.
Last year, a memo was leaked showing Trudeau was informed directly by the Secretary of the Cabinet that inflating Canada’s population through immigration was the “key factor” in our housing crisis.
Janice Charette, the Secretary of the Cabinet, wrote to the Prime Minister, “There is broad agreement among experts that homebuilding has been insufficient in comparison with housing demand in recent years, particularly with the increase in immigration since 2015.”
Remarkably, even Trudeau’s own Immigration Department sent him a memo alerting that housing construction was lagging far behind immigration levels. But the warnings fell on deaf ears.
None of this should be surprising given that documents revealed Trudeau’s primary motivation for increasing immigration rates was political – he believed new immigrants were more likely to vote Liberal compared to native-born Canadians.
In other words, he put his own partisan interests ahead of the well-being of Canadian citizens and housing affordability.
Consequently, temporary resident levels have exploded under Trudeau, going from just 2% of Canada’s population in 2017 to over 7.5% today.
The surge of temporary workers and international students has benefited corporate bottom lines by suppressing wage growth, even as it strained housing availability and costs for regular people.
Indian migrants Surge Under Trudeau Worsens Housing Crisis
This massive influx of temporary foreign residents has been especially problematic when it comes to Indian migrants.
The flood of Indian students and workers arriving in Canada has greatly exacerbated the housing crisis.
Especially concerning is the astronomical increase in Indian international students under Trudeau’s watch.
The number of Indians immigrating to Canada each year has quadrupled from just 38,828 in 2013 to over 139,000 in 2023. This matches almost the entire period Trudeau has been Prime Minister.
A major driver has been Canada’s liberal international student policies under Trudeau. These policies provide an expedited pathway to permanent residency compared to other countries.
The massive influx of Indian students in particular has completely overwhelmed Canada’s housing capacity. Get this – the number of Indian international students rose a mind-blowing 5,911% under Trudeau – from just 2,181 in 2000 to over 128,000 by 2021!
Over that timeframe, Indian students went from being 3.5% of all international students in Canada to a staggering 32.2% majority. The surge has happened thanks to Trudeau’s Express Entry program launched in 2015.
Clearly, this kind of exponential growth in temporary migration is unsustainable. Canada’s housing and rental markets simply can’t absorb such a drastic influx of new residents so rapidly.
Yet Trudeau’s government continued approving international student permits by the hundreds of thousands without any regard for housing supply realities. This huge glut of new tenants predictably led to major shortages and skyrocketing rental costs across the country.
Not only are house prices becoming unattainable for average Canadians, but monthly rents are also soaring out of reach. Even sharing tiny apartments with multiple roommates has become the norm in cities like Toronto and Vancouver just to scrape by.
This is all the direct result of Justin Trudeau failing to match immigration levels with housing growth. Flooding Canada with new migrants far faster than homes can be built has made life increasingly miserable for citizens and permanent residents.
And who’s suffering? Not the bigwigs, that’s for sure. They’re loving the cheaper labor costs, while the rest of us are struggling with sky-high living costs. Trudeau didn’t listen to the experts or look at the evidence. He let this crisis get totally out of hand.
Now, Canada’s housing market is getting a bad reputation as one of the worst in the developed world. And it’s all because Trudeau let this temporary foreigner flood happen under his watch, putting his party’s interests over what’s best for Canadians.
Trudeau finally admitted that the crazy surge in immigrants needs to be reined in, but his talk about putting a cap on new international students hasn’t led to any real action yet.
Even his recent big promise to build 4 million new homes by 2031 seems pretty sketchy. To hit that goal, they’d have to build over 1 new home every minute non-stop for the next 7 years.
So let’s face it, Trudeau’s lost all credibility when it comes to fixing the housing mess. He’s had a good 8 years to deal with it, and all he’s done is make it worse. He can’t keep pointing fingers at Harper or anyone else.
With Canada about to grab the embarrassing title of the world’s most unaffordable housing market, it’s time for a new government with some real common sense. We need a plan to actually build more homes and bring some sanity back to housing. That’s what Canadians deserve.
