Read "Limits to Growth"
Basically, no matter what anyone does, the train will go off the track. If some responsible actions are taken it'll happen at a lower speed.
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COVID and the housing market
- Thread starter mimico_polak
- Start date
Basically, no matter what anyone does, the train will go off the track. If some responsible actions are taken it'll happen at a lower speed.
Also read: Doing vs Allowing Harm (the ethics of action vs inaction)
If the government purposely and knowingly crashes the economy, it will be perceived as much worse than just letting market forces do it in a much more spectacular fashion.
"Didn't touch it. Not our fault"
moarmoto
Well-known member
Important to also distinguish recent immigrants than earlier ones. A lot of them have so much more wealth compared to decades ago.
I'm a poor immigrant that came 20 yrs ago that married poor immigrant that came 30 yrs ago.
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bigpoppa
Well-known member
She cant take the house, there isnt one to take!
Makes it all the easier!
Yeah, that's the change to the scoring system that the government uses to filter who gets into the country and who doesn't.
Immigration Canada in 1980: "Oh, you have little kids who will eventually grow up and become hard-working taxpayers? Welcome to Canada!"
Immigration Canada in 2010: "Oh, you have lots of money to give to us as part of the Federal Wealthy Investor Program? Oh, you want to launder your money and perform a pump and dump scheme on our real estate market? Welcome to Canada!"
If you have a billion or two why wouldn't you buy your way into a few countries around the world even if it was a few million a pop?
Then if things go sour at home base, hop on your private jet and escape to a spider hole. It's insurance.
We pay about 1/10% of value for home insurance with no ROI. A billionaire can invest the same percentage to have a second home with good potential of capital gain by having real estate investments all over the globe.
A billionaire buying a million dollar house is like a person with a million buying a garden shed.
It is hard to wrap one's head around that much money.
Then if things go sour at home base, hop on your private jet and escape to a spider hole. It's insurance.
We pay about 1/10% of value for home insurance with no ROI. A billionaire can invest the same percentage to have a second home with good potential of capital gain by having real estate investments all over the globe.
A billionaire buying a million dollar house is like a person with a million buying a garden shed.
It is hard to wrap one's head around that much money.
bigpoppa
Well-known member
you could be kevin o leary rich and still be able to do it easy
You don't even need to be a billionaire. If you live in a brownstone in NY at 10M USD, picking up a cottage in Muskoka for 1-2M CDN seems cheap.
Priller
Well-known member
This. So much this. The effect this change in immigration policy has had on the Canadian social and economic situation is incalculable. Not all effects have been negative, and we've all benefited to some extent from the cash infusion, but the consequences have been significant.
Edit: I should clarify that I am extremely pro-immigration, as even on the most pragmatic economic level we need more population growth than our birth rate can sustain. That leaves aside the cultural richness that is the byproduct of strong immigration. I do have an issue, though, with the selection process being so heavily weighted towards the immediate financial gain to the country. The people who have come here out of need for a safe place to raise their families, be they from Ireland, Italy, Portugal, Sri Lanka, Viet Nam, Ethiopia, you name it, have set down roots with incredible positive influences on the country. Some of those benefits have been lessened by having more people come out of want rather than need...
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D
Deleted member 50930
Guest
I'm Asian.
Asian chicks are not easy going buddy
Ones born here are better but still you will face a lot of pressure from the family
Not being racist but especially Chinese women... $$$$$$$$$$$$$$$$$$$$$$
@油井緋色
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bigpoppa
Well-known member
I should just have stayed single
D
Deleted member 50930
Guest
It could foster racism if we only allowed Chinese billionaires in. The WASP Canadians that were used to the status quo would see foreigners buying stuff that the WASP's couldn't afford. Simple jealousy because we have nanny stated too much.
Then the other end of the spectrum, the refugees, are seen as burdens.
bigpoppa
Well-known member
indian people its the same ****
Indian dad: no no we dont need to replace the brakes and put on winter tires
Also indian dad: Lets arrange a LOC for this wedding that will probably end up in the toilet 5 years from now.
D
Deleted member 50930
Guest
Never dated an Asian chick. No mungies either.
Wait. Are newfies mungies?
Having dated one, I'm gonna say no?
Wait. Are newfies mungies?
Having dated one, I'm gonna say no?
Sometimes I try to step back a bit and appreciate only having a one car garage that a refugee would be happy to live with instead of the camp tent they're in now..
A study, Swedish IIRC, proposed a scenario where everyone in the world live on the same street and at one end was the poorest and the other the wealthiest. Everyone in between was in order of wealth.
People were asked t point out where they were on the street line and most pointed to somewhere around the middle. The reality is that if you have a few thousands of dollars in assets you were near the top.
They studied how people treated the same situation, as simple as brushing their teeth.
The poorest used some mud and their finger. Better off had a family toothbrush for the entire house. We typically get a toothbrush each and change it a couple of times a year. Top end get electrics and their own hygienist.
A study, Swedish IIRC, proposed a scenario where everyone in the world live on the same street and at one end was the poorest and the other the wealthiest. Everyone in between was in order of wealth.
People were asked t point out where they were on the street line and most pointed to somewhere around the middle. The reality is that if you have a few thousands of dollars in assets you were near the top.
They studied how people treated the same situation, as simple as brushing their teeth.
The poorest used some mud and their finger. Better off had a family toothbrush for the entire house. We typically get a toothbrush each and change it a couple of times a year. Top end get electrics and their own hygienist.
D
Deleted member 50930
Guest
^
Rana Plaza
Rana Plaza
Priller
Well-known member
I think it's a bit more complex than that. It's less obvious here, but Vancouver is struggling with some very real social upheaval where the issues are difficult to talk about because accusations of racism get thrown about early and often. Nobody knows what impact offshore money is having because nobody wants to dig too deep. A ripple in a huge economy elsewhere can swamp our relatively tiny boat.
And it's not just the establishment WASPs feeling left behind there. There's lots of Canadians whose background is immigrant families from all over with similar issues. The concern is very real and writing it off as jealousy ignores some serious issues. It even gets as fine as Cantonese Chinese having problems with mainland Chinese as the relative newcomers.
When the reality is very much the opposite. Even the anti-refugee Conservative Party in the UK had to try to suppress their own report that highlighted the overall benefits...
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