Real Estate

Why are so many parties blamed for real estate?

  • Last Updated:
  • Apr 17th, 2019 1:36 pm
[OP]
Member
May 13, 2015
209 posts
146 upvotes
Manotick, ON

Why are so many parties blamed for real estate?

Over the years, I noticed that people here have blamed almost anything, and everything that caused real estate to go up.

-Realtors: They are framed as slimy, provide 0 value, take astronomical commissions and pump up real estate
-Chinese & other foreign Investors: They are framed as criminals laundering money into Canada
-Government: Our government is blamed for keeping interest into extraordinarily low amounts
-Average Canadians: They are blamed for being way too overleveraged
-Banks: Being blamed for lending way too much
-CMHC: Being blamed as a tax burden because of their liability to the amount of real estate debt they hold

-I have even seen posts about CBC or news corporations being blamed for publishing articles that "pump" real estate
37 replies
Deal Fanatic
May 1, 2012
8624 posts
6241 upvotes
Markham
People like to blame others for their inability or unwillingness to purchase properties. We have our inherent idea of what a house is "worth." Ask yourself, have you ever thought "Oh this Semi is 600k? No Semi is worth this money."

The point is that as humans we like to blame everyone but ourselves for our failures. When it comes to something as monumental as Real Estate, it is probably the biggest hate generator. When you see people online complain about certain groups (chinese foreign investors) or professionals (banks, cmhc) about their personal inability to purchase a house, that is when you see the worst that humanity has to offer.

I actually see people blame foreign investors, specifically Chinese foreign investors the most. They basically clump up anyone who looks "Asian" as someone who's foreign and taking away their innate right as real(TM) "Canadians" to buy an affordable house. What phases these people, is that we actually live in Canada, and your "Asian, South Asian, African, South American, etc..." neighbour is just as Canadian as you are.

What you see is the prototypical scapegoating of the disenfrenchised to hate those who are different and afflix all that ills them upon those who they feel are foreign.

In other words, racists.
Sr. Member
Nov 10, 2017
541 posts
302 upvotes
Anikiri wrote:
Apr 16th, 2019 1:37 pm
People like to blame others for their inability or unwillingness to purchase properties. We have our inherent idea of what a house is "worth." Ask yourself, have you ever thought "Oh this Semi is 600k? No Semi is worth this money."

The point is that as humans we like to blame everyone but ourselves for our failures. When it comes to something as monumental as Real Estate, it is probably the biggest hate generator. When you see people online complain about certain groups (chinese foreign investors) or professionals (banks, cmhc) about their personal inability to purchase a house, that is when you see the worst that humanity has to offer.

I actually see people blame foreign investors, specifically Chinese foreign investors the most. They basically clump up anyone who looks "Asian" as someone who's foreign and taking away their innate right as real(TM) "Canadians" to buy an affordable house. What phases these people, is that we actually live in Canada, and your "Asian, South Asian, African, South American, etc..." neighbour is just as Canadian as you are.

What you see is the prototypical scapegoating of the disenfrenchised to hate those who are different and afflix all that ills them upon those who they feel are foreign.

In other words, racists.
Bravo! Well Said!

Deal Fanatic
Feb 29, 2008
8576 posts
3638 upvotes
Anikiri wrote:
Apr 16th, 2019 1:37 pm
People like to blame others for their inability or unwillingness to purchase properties. We have our inherent idea of what a house is "worth." Ask yourself, have you ever thought "Oh this Semi is 600k? No Semi is worth this money."

The point is that as humans we like to blame everyone but ourselves for our failures. When it comes to something as monumental as Real Estate, it is probably the biggest hate generator. When you see people online complain about certain groups (chinese foreign investors) or professionals (banks, cmhc) about their personal inability to purchase a house, that is when you see the worst that humanity has to offer.

I actually see people blame foreign investors, specifically Chinese foreign investors the most. They basically clump up anyone who looks "Asian" as someone who's foreign and taking away their innate right as real(TM) "Canadians" to buy an affordable house. What phases these people, is that we actually live in Canada, and your "Asian, South Asian, African, South American, etc..." neighbour is just as Canadian as you are.

What you see is the prototypical scapegoating of the disenfrenchised to hate those who are different and afflix all that ills them upon those who they feel are foreign.

In other words, racists.
Preach! Investors only became a problem when the “demographics” changed.
Deal Fanatic
Feb 22, 2011
5890 posts
5589 upvotes
Toronto
People are angry they can't get what they want and they are looking for someone, anyone to blame.
Deal Addict
Jan 15, 2017
2536 posts
1856 upvotes
So many people are blamed because the reason we own real estate has shifted. We buy homes now for investment purposes and not for a place to live.

My parents goal was to buy a house and stay in it. Pay it off cause it was yours and no one could take it away from you. They raised their family in it and even now in the senior years you cannot get them to sell and move.

But that is not how we view homes now. We view them as investments that must go up in value. We need to make money on it and the more money you make, the smarter you were to buy when you did and where you did. Owning a house is akin to winning a lottery and when it doens't pan out like we hoped, it's time to blame everyone else for meddling in your plan.
Newbie
Aug 5, 2018
70 posts
72 upvotes
Anikiri wrote:
Apr 16th, 2019 1:37 pm
People like to blame others for their inability or unwillingness to purchase properties. We have our inherent idea of what a house is "worth." Ask yourself, have you ever thought "Oh this Semi is 600k? No Semi is worth this money."

The point is that as humans we like to blame everyone but ourselves for our failures. When it comes to something as monumental as Real Estate, it is probably the biggest hate generator. When you see people online complain about certain groups (chinese foreign investors) or professionals (banks, cmhc) about their personal inability to purchase a house, that is when you see the worst that humanity has to offer.

I actually see people blame foreign investors, specifically Chinese foreign investors the most. They basically clump up anyone who looks "Asian" as someone who's foreign and taking away their innate right as real(TM) "Canadians" to buy an affordable house. What phases these people, is that we actually live in Canada, and your "Asian, South Asian, African, South American, etc..." neighbour is just as Canadian as you are.

What you see is the prototypical scapegoating of the disenfrenchised to hate those who are different and afflix all that ills them upon those who they feel are foreign.

In other words, racists.
There is a simple way to change this perspective. Just ban foreign ownership in the GTA so that there is no argument against your NEW neighbour not being Canadian. Foreign investors are only tiny portion of the market according to the news so when things don't crumble it's further support for just internal forces.
Deal Addict
Apr 6, 2008
1793 posts
1118 upvotes
I think it comes down to the marketing from all of these groups. They love to preach how you gotta be a homeowner! Gotta be successful! FOMO, etc. But truthfully renting makes sense in a lot of cases. But renting has such a negative stigma people feel like they made a mistake not buying years ago. So instead of viewing themselves as a successful person that rents because it makes sense, they are hard on themselves because they "missed out".

People are much more competitive and base their self worth on money and possessions much more then our previous generations. Other related factors such as declining wages, social media, and school diplomas are less useful then they used to, it makes it very difficult for the new generation looking at buying homes.
Sr. Member
Jan 29, 2010
586 posts
364 upvotes
Staffah wrote:
Apr 16th, 2019 5:04 pm
There is a simple way to change this perspective. Just ban foreign ownership in the GTA so that there is no argument against your NEW neighbour not being Canadian. Foreign investors are only tiny portion of the market according to the news so when things don't crumble it's further support for just internal forces.
While we’re at it, let’s ban multi home ownership and stop letting immigrants in too. Or better yet, close off Canada like North Korea.
Newbie
Aug 5, 2018
70 posts
72 upvotes
jillaryit wrote:
Apr 16th, 2019 5:36 pm
While we’re at it, let’s ban multi home ownership and stop letting immigrants in too. Or better yet, close off Canada like North Korea.
Whoooa that's a bit extreme bud. Canada needs healthy immigration.
Deal Addict
May 12, 2014
2055 posts
1528 upvotes
Montreal
fccoup wrote:
Apr 16th, 2019 1:20 pm
-Government: Our government is blamed for keeping interest into extraordinarily low amounts
That is certainly a huge factor (but far from the only one) in real estate appreciation. And it is a market manipulation and a policy mistake.

As for the other factors like agents and foreign money, their role is small.

Sadly priced out people will find scapegoats rather than face up to the facts.
Sr. Member
Jan 29, 2010
586 posts
364 upvotes
Staffah wrote:
Apr 16th, 2019 5:38 pm
Whoooa that's a bit extreme bud. Canada needs healthy immigration.
Sorry, forgot to /sarcasm
Member
Feb 15, 2018
208 posts
237 upvotes
Anikiri wrote:
Apr 16th, 2019 1:37 pm
People like to blame others for their inability or unwillingness to purchase properties. We have our inherent idea of what a house is "worth." Ask yourself, have you ever thought "Oh this Semi is 600k? No Semi is worth this money."

The point is that as humans we like to blame everyone but ourselves for our failures. When it comes to something as monumental as Real Estate, it is probably the biggest hate generator. When you see people online complain about certain groups (chinese foreign investors) or professionals (banks, cmhc) about their personal inability to purchase a house, that is when you see the worst that humanity has to offer.

I actually see people blame foreign investors, specifically Chinese foreign investors the most. They basically clump up anyone who looks "Asian" as someone who's foreign and taking away their innate right as real(TM) "Canadians" to buy an affordable house. What phases these people, is that we actually live in Canada, and your "Asian, South Asian, African, South American, etc..." neighbour is just as Canadian as you are.

What you see is the prototypical scapegoating of the disenfrenchised to hate those who are different and afflix all that ills them upon those who they feel are foreign.

In other words, racists.
Arent we allowed to protest the disarray Toronto and Vancouver housing markets are in without being labeled racists? For the record, I am an immigrant minority. I have met Chinese Canadians in Vancouver who are not happy with the madness of the real estate market there. Are they racist too?

Victim blaming where we are blaming the hardworking Canadian family that can not buy a house in Vancouver! I have met families who have worked very hard and studied hard in school as well. They worked 2 jobs to put themselves through university and even after graduating and landing a professional job they still have a part time job. They save religiously and do not drink lattes. What do you want them to do against a torrent of foreign cash trying to outbid them - work even harder.

Another favourite ace from the victim blamers is to call the victims entitled. They are not entitled. They just want whats owed to them under our social contract. Have you ever heard of a "social contract". Why do you think in Canada we live in homes without high concrete walls and razor wire? Our houses do not even have bars on the windows and anyone can literally break in at any time. Hint hint! its not the police as we do not have enough police officers to contain anarchy. The reason why people in developed western democracies are peaceful is because of the social contract which states that as a citizen if you work hard and follow the rules, society will provide you with a minimum standard of living and social security. That is what keeps our societies in check. This contract say an adult Canadian who can hold down a job, remains an upright citizen and is not a junkie ends up with a house with a picket fence. I am not talking about a mansion in Forest Hill - just a regular bungalow in Scarborough.

When this social contract is broken, people will inevitably look for a place to apportion blame. This is when ultra right wing politicians ascend to power.
Deal Fanatic
Feb 29, 2008
8576 posts
3638 upvotes
Too many people think they are owed things because they "work hard". This is the problem. You went to school, and worked hard, but not hard enough to get a well paying job. Why do you get the right to take away from those who worked harder? That is entitlement.

Many of the victims are entitled. You have 25 year olds just starting out crying that they can't afford a house downtown. People refusing to live in condos because they can't stand the notion of working their way up. There are people who want to get that $1.5M house in Leslieville when many had to buy 1 or 2 properties before getting to that level.

They're entitled because they thought a Sociology degree has earned a $1M loft on King West.

These are the people with that HAD to lease a luxury car instead of taking the bus. The people who HAD to get that $1K Canada Goose jacket or the $500 Yeezy's. The people that had to move out on their own for no reason when they could have lived with their parents.

Many of these people are entitled and make zero sacrifice. There are some who do and personally, those people do well. They don't complain the way the entitled millenials do.

People can't afford prime real estate. Who cares? Neither can I. Move! Make more money, adjust your budget. By something cheaper. Tired of the whining. I'll give more sympathy to the homeless and the poor. And even they don't feel they're owed A+ property in prime areas.

First it was charge foreign buyers extra! Now it's ban them entirely. What's next? Oh, how about those rent controls? Too many fools have a voice.

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