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Cake day: June 11th, 2023

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  • From 1972 onward, between 10-20 percent of all housing built in Canada was public, non-profit, or co-operative owned. These units came with various affordability covenants that anchored prices. Suddenly, private landlords had to compete with a robust public sector that prioritized affordability instead of wealth extraction, lowering costs for everyone.

    Renters could have their monthly payments subsidized through the Assisted Rental Program (ARP).

    Low-income folks who wanted to own a home could secure below-market rate mortgages directly from the federal government, or have their private mortgages subsidized through the Assisted Home Ownership Program (AHOP).

    In Toronto, where participation in FHAP programs was high, real housing costs fell by 30 percent between 1974 and 1978.

    no no no just do thirty year mortgages it’ll be fine



  • Earlier this month the government changed one of its rules on mortgage payments, allowing first-time buyers or people purchasing a newly-built home to take loans with 30-year amortizations, instead of 25 years.

    Although the move is intended to lower monthly payments and make home ownership affordable to more people, critics say it may have opposite effect by boosting demand and raising prices.

    It’s hard to see how this won’t increase prices and costs for buyers. It clearly benefits lenders, but everyone else will pay more.









  • Chinese companies stealing American technologies could lead to the former being able to produce something for cheap, which, … will allow an everyday person to have a better bargain.

    While the company that originally created the product will collapse, putting people out of work and weakening the American economy.

    That’s basically what the globalization movement from the 1980s and 90s was. Jobs may move overseas, but think of the cheap shit you can buy!The hollowing out of Western economies has led to the political moment we’re in now.