I didn't just type it into ChatGPT and copy/paste whatever it wrote without looking it over lol
Titles like this make me more confident that it won’t be a soft landing
"Canada’s population growth outpaced job gains in the month, according to the agency."
lol
It was a lot faster than writing it myself
Yes, multiple things can affect rental supply, not just government price controls.
I’m not sure I really have a favourite. Every country has good and bad. There are some parts of the USA (ex. Colorado, Washington) that I really like. But also the USA has its own issues that we all know about. France is beautiful but there can be civil unrest, taxes are high, etc. I spent some time in Singapore and it’s very safe, clean, great food, but it’s also stale and far from a lot of places. Culture comes into play a lot. I can recognize that somewhere is a great place to live but it’s not for me. I didn’t grow up there, I don’t speak the language, etc. In Europe I feel most “at home” in the Netherlands.
Different things matter to different people. So saying things like “this country is #2” are meaningless. Countries I personally would rank above Canada: USA, Netherlands, Norway, Australia, New Zealand.
It’s inevitable that any type of price control will lead to supply/demand issues. That’s great it worked out for you but it is well documented that rent control harms rental markets long term. Anyone who disagrees is in denial.
Typically you’d be right but as a DN I actually spent most of my time in North America and western Europe—mostly in countries people would compare Canada with (UK, France, Spain, Norway, Germany, USA, Australia, etc.). I never went to Asia or South America as a DN. Actually the only time I stepped foot in LatAm was in Panama for a month this past winter.
It really changed my perspective on Canada. I don’t think it’s a bad country at all but I don’t hold it in as high regard as I once did. Every country has its strengths and weaknesses. What those are is different for everyone. Canada is squandering immense potential in my opinion. If it wasn’t for family, there are several places in the USA I would consider living long term instead.
Yes, rent control, our panacea.
Negative Effects on Supply: Rent control can potentially lead to housing shortages over the long term. When landlords are unable to raise rents to cover maintenance and operating costs or to generate a reasonable return on their investment, they may have less incentive to maintain or invest in their properties. This can lead to a deterioration in the quality of rental housing and a reduction in the overall supply of rental units. In some cases, landlords may convert rental properties into other uses, such as condominiums or commercial spaces, further reducing the supply of rental housing.
Inefficiencies and Reduced Mobility: Rent control can lead to inefficiencies in the housing market. Tenants in rent-controlled units may have less incentive to move, even if their housing needs change, because they want to keep their low rents. This reduced mobility can make it harder for new renters to find suitable housing.
Selective Impact: Rent control often applies to older buildings or units built before a certain date. This can create disparities in rent levels between newer and older housing stock, potentially discouraging the construction of new rental units and leading to further imbalances in the housing market.
A short term band-aid that causes long term problems. Government price controls are a tale as old as time.
I like how we have a huge shortage of rentals and everyone in this thread is calling for rent controls, which have been proven beyond a doubt to lead to housing shortages...
I spent this summer in France and I had a great time. I will concede that France has a piss problem though.
I have lived all over the world and I agree. It’s one of the better places in the world but it’s not as great as a lot of Canadians believe
At least your country actually has real business competition and your per capita GDP is going up instead of down
What U.S. News believes doesn’t change reality either. These rankings are and always have been subjective BS
I have been to a lot of first world countries for extended periods as a digital nomad. Canada is not even in the top 5 imo
Almost. An increase of 7% is: 1 + 0.07 = 1.07. A further 3% increase is 1.03 times that, which results in 1.07 x 1.03 = 1.102 or a 10.2% increase.
I use Google Cloud Build + Google Cloud Run and it’s built in, so no