EZRA LEVANT | Poilievre stands up for young people with latest housing announcement
Episode Stats
Words per Minute
166.85533
Summary
In this episode, I ask a tricky question to Prime Minister Justin Trudeau about the housing crisis in Canada. And I'll show you how he answers it, by asking him a tough question. It's September 9th, and it's the Ezra LeMant Show.
Transcript
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Tonight, I got a tricky question for Pierre Polyev. I'll show you how he answers.
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It's September 9th, and this is the Ezra LeMant Show.
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Well, hi there. You know, Pierre Polyev is in the Toronto area a lot these days,
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or at least in the greater Toronto area, so I can drive and meet him with an hour or so each way.
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And I've had a chance to put a few questions to him, and I generally want to stay on the topic of his press conference
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because I want him to keep asking me, and I suppose if I threw things at him from curveballs, he might not call on me.
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I'm not going easy on the guy. I just want to continue to have this access to him.
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My questions are not easy. I try and ask questions that I don't think others will ask.
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I don't know if you saw, I asked him about the Castle Law Doctrine the other day,
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So today, he was in Brampton, and he was talking about getting the cost of housing down.
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Okay, everyone wants that to happen. Or do they?
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Young people want that to happen. People trying to buy their first house want that to happen.
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People trying to move out of their parents' house and start their life want that to happen.
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But what if you're 60 or 70 or 80, and your life savings is tied up in your house,
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and the capital gains, like maybe you bought your home in 1975 for $50,000,
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and maybe it's worth, well, in Toronto, $1.5 million.
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I know that sounds crazy, but the average home in Toronto and Vancouver is over $1 million now.
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So if you were going to cut the price of the average home, let's just say to half a million dollars,
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which is where it was 10 years ago, that would be good news for young people who could maybe afford to buy a home,
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but it would cut the savings for boomers and seniors in half.
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How do you appeal to young people trying to start in life without panicking older people?
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That is a difficult question that requires King Solomon-type knowledge and wisdom.
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Here's how that went today when I was in Brampton, a suburb of Toronto.
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Let me play for you a few highlights of his announcement moments ago.
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After a decade of liberal taxes, liberal spending, out-of-control liberal immigration,
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reckless crime policies, the Canadian promise is really broken.
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We see an entire generation priced out of home ownership.
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We see overcrowded communities as a result of immigration adding people three times faster than we add homes and jobs.
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That's the promise of Canada broken after a decade of liberals.
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He said he would spend less, but his first estimates bill has the government spending 8% more,
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with the lion's share going to high-priced consultants and bureaucracy.
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But here in the GTA, year over year, it is down 49%.
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Pre-sales are down 48%, and they are 82% below the 10-year average.
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You talk to homebuilders in the GTA today, and they will tell you this is the worst they have ever seen it in generations.
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I've talked to homebuilders that have been in this business for 50 years,
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and they say they have never witnessed this kind of carnage in the housing sector.
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It means that not only will there be a shortage of homes because they're not getting built,
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but soon there will be mass layoffs, and we're already seeing it.
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The Canadian Homebuilders Association say that 35% of their members are already laying people off.
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The Residential Construction Council says that the sector is already laying off thousands of people,
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and that's happening mostly in the greater Toronto area,
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where unemployment is already facing near-record highs.
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We see nationwide 86,000 fewer people working today than when Mr. Carney took office.
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And in the summer alone, July and August, we lost 106,000 jobs,
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a staggering number to give us the second highest unemployment rate in the G7.
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If these trades workers lose their jobs, we may never get them back.
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And then, three years from now, the housing shortage will be even worse than it is right now.
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And so, today, I join with my shadow minister of housing,
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called the Build Homes and Not Bureaucracy Act,