The National Telegraph - Wyatt Claypool - Justin Trudeau's new $6 billion Canadian housing nightmare

00:00:00.000 It's incredible to me what Justin Trudeau and his government thinks is appealing to the average

00:00:05.260 Canadian. So Justin Trudeau and Housing Minister Sean Frazier have just rolled out the new Liberals

00:00:11.480 housing plan, and as expected, the vast majority of the legacy media dropped the ball in covering

00:00:17.180 what this actually all entails. They mostly just cover the $6 billion price tag, and look,

00:00:23.260 they're spending so much money tackling this big issue, even though they've spent massive amounts

00:00:28.200 of money in the past, and housing starts have only gone down, and housing prices have only increased

00:00:32.680 because they haven't stopped the massive flow of immigration in this country. But this time,

00:00:37.920 don't worry, they're back with a new plan. That will definitely help the problem out this time,

00:00:43.080 I guess. And really, this plan just involves destroying the traditional neighborhood in Canada

00:00:48.980 and trying to make everything extremely densified because that's easier than cutting taxes or

00:00:55.300 actually cutting building regulations that are completely unnecessary. But before I get into

00:00:59.940 that, I just quickly want to plug the fact that I, Wyatt Claypool, am running for the Calgary Signal

00:01:05.740 Hill Conservative Party nomination. It's on the west side of Calgary. It's this riding right here. This

00:01:10.940 is what the boundaries will look like after the boundaries change in late April. So if you live

00:01:15.600 in this riding, buy a Conservative Party membership and check out my website in the description below,

00:01:20.720 wyattclaypool.com. But anyways, to get into it, and this actually does have a lot of effect on the

00:01:25.700 city I'm living in. Jody Gondek, our terrible mayor, is trying to introduce blanket rezoning,

00:01:31.440 which is the heart and soul of the Liberals' new housing plan, that we can basically increase

00:01:36.720 housing builds by incentivizing every single city with effectively bribes to just wipe out zoning.

00:01:43.820 Who needs zoning? I don't know. Maybe normal people who want to live in normal neighborhoods.

00:01:48.440 They don't want to live right next to apartment buildings that they did not sign up for to be

00:01:53.240 in their neighborhoods. When you purchased a home and when the land was zoned for a certain type of

00:01:58.420 housing, that was probably a leading reason why you bought into that area because it had a nice

00:02:03.060 soccer field, a park. There was everyone, everything was single family detached homes. It had a really

00:02:08.340 nice suburban middle class feel. And now what Trudeau is doing in order to not actually, you know,

00:02:14.640 address the real policy problems he's caused with immigration, high taxes, regulations, and all this

00:02:20.140 other stuff, as well as local governments who have contributed the exact same way with property taxes

00:02:25.800 and way too many environmental and building code regulations. They are now just going to make it

00:02:31.200 so that more houses can be jammed into smaller areas of land. So are they actually making housing

00:02:36.580 cheaper? Well, not at all. Housing is actually going to get much more expensive.

00:02:40.560 What they're going to do is give you smaller portions of land to live on and ergo, technically

00:02:47.720 your house is cheaper, but your house is also far crappier and your neighborhood is far crappier.

00:02:53.080 Plus the land itself might actually skyrocket in value because now when anything can be built on

00:02:58.740 that land, you're not just buying a single family detached homes like property. You're buying the

00:03:04.620 property that could put up an apartment building or a triplex, quadruplex, or even sixplex.

00:03:10.340 And this is something they're actually pushing for. This is a tweet that housing minister Sean

00:03:15.400 Frazier put out. He says, update, our housing catalog will include new designs this year for

00:03:20.700 fourplexes, sixplexes, row housing, garden suites, and modular designs. Can't wait to launch. Wow.

00:03:27.120 You can't wait to destroy your neighborhood. And it's not that there can't be areas of a city

00:03:32.000 that have these types of housing and they're not terrible, but you don't really want these

00:03:36.820 massive housing conglomerates in your neighborhoods. It kind of changes the character

00:03:42.320 of the place that you bought into. You paid $400,000 back in the day for your house, or these

00:03:48.340 days you're paying like one and a half million dollars for your house, or at least that's what

00:03:52.400 your mortgage is. And right now you have, like right now in a lot of these cities, you could just

00:03:58.200 start living next to a sixplex, which is going to completely degrade the value of your home. And it's

00:04:02.580 going to change the neighborhood. Also included in this plan is just the liberals buying up rental

00:04:07.820 properties off the market and then maintaining them at extremely low rents. So you might even be

00:04:12.960 living next to subsidized housing. Nothing wrong with some people getting subsidized housing who

00:04:18.460 really need it. The disabled, a couple of single mothers who just can't possibly get any funds to pay 1.00

00:04:23.800 for a rent. That's fine. But just having a blanket bloated government program is going to lead to a lot 1.00

00:04:30.600 of derelict properties as always happens in every area where the government just flips the bill for

00:04:36.500 people's rents and requires nothing from them, but basically just filling out paperwork. Here's

00:04:42.240 Justin Trudeau announcing this plan. We need more affordable housing buildings just like this one

00:04:47.420 right across the country. Unfortunately, too many of those places are under constant threat of being

00:04:53.440 demolished to build condos or sold to speculators and large corporations that will increase rents

00:04:59.660 at turnover. People are being priced out of their communities. And that's not okay. So we have to

00:05:05.900 help nonprofits and community partners acquire units and preserve rents at a stable level. That's why

00:05:12.800 we're here to announce the one and a half billion dollar Canada rental protection fund.

00:05:20.560 It's a nonsense policy and notice how it's going to be just nonprofits and probably housing

00:05:26.160 nonprofits running this thing. And the problem with these nonprofits is they tend to be very

00:05:29.940 left wing in their worldview. So their goal isn't to maintain like communities while also having some

00:05:36.900 rent subsidized units for people to live in. Their only goal in life is to give people properties to

00:05:42.160 live in like sight unseen. If they're actually living up to like the living up to the standard that we would

00:05:49.320 say, yes, that person maybe deserves some subsidized housing. In every place where there's subsidized

00:05:54.560 housing, anyone gets it. And it usually brings crime into neighborhoods because you're bringing

00:05:58.560 people into neighborhoods who potentially didn't need the subsidized housing. They're just the type

00:06:02.640 of people who like taking advantage of programs like that. But also notice how he's like fear

00:06:07.400 mongering against while people are raising people's rents or they're trying to kick them out of their

00:06:11.220 home so that they can like gentrify an area and build condos. Guys, the rest of your plan is literally

00:06:17.660 that. It is incentivizing people to sell their homes for massive amounts of profit because now their land can

00:06:24.300 be used for anything so that developers can stick apartment buildings and triplexes, six plexes in

00:06:30.940 those areas. You guys have a completely contradictory housing plan and this will not make anyone's housing

00:06:36.760 cheaper. This just makes the, this actually makes the square foot cost of a house way more, just the

00:06:43.300 government's dividing it up a little bit more. So here's a fifth of a house. Here is one, what used to be

00:06:49.460 just one property that we've built a triplex quadruplex on. And now you get a fourth of the

00:06:56.140 property to live on, but it's technically cheaper because you bought this quarter of land for $500,000

00:07:03.220 rather than the full $750,000, $800,000 that it used to be. If anything, this is a massive handout to

00:07:10.320 developers who already own the land and now can just jam as much and as many people on these properties

00:07:16.040 as humanly possible. This is disgusting to me. It is the destruction of the traditional family 0.60

00:07:22.440 neighborhood. I actually want neighborhoods to feel family friendly. And when it just becomes

00:07:28.960 dumping ground for everybody to live there, it's no longer a middle-class, nice community with the

00:07:35.680 soccer fields and the parks. Because remember too, a lot of cities like Calgary are going to start

00:07:39.960 selling off parkland so that they can start building more large construction projects on them.

00:07:46.140 Guys, just lower immigration. We don't need 500,000 new residents every single year. And we don't need 1.00

00:07:54.300 more temporary foreign workers and students, 500,000 temporary foreign workers and students

00:07:59.340 and around 500,000 permanent residents. We're bringing in like 1.1 million people in a year.

00:08:04.560 Some of them are temporary, but the immigration system is so loose, usually they can get on the 1.00

00:08:09.040 pathway to being permanent residents anyways. It's ridiculous. And so, and this is actually what 0.90

00:08:15.600 I found when I walk around my own community door knocking for my conservative nomination.

00:08:19.740 New immigrants are actually some of the people most open to the idea of heavily reducing immigration

00:08:24.760 because they've gone through the system. They notice how everything's so expensive on the other

00:08:28.740 end and how bloated the system is. They want to see less people coming in behind them. And no,

00:08:34.000 it's not like, it's not self, it's sort of selfish, but at the end of the day, we all have to look out

00:08:38.720 for ourselves and our own families. If you've ever been on a plane traveling somewhere and it's

00:08:44.400 stuffed to the gills, you're not thinking, well, I wouldn't want any of these people deprived of a

00:08:49.240 plane seat. So I think we should even load more people on this plane because I'm pro travel.

00:08:54.360 No, everyone who's ever been on an overpacked flight tends to get a little bit antsy about

00:08:59.220 planes being overstacked. And that's a video for another day. If you ever actually ever get mad at an

00:09:05.940 airline, don't get mad at the airline, get mad at the government for putting a 27 to 30% tax on

00:09:11.680 your ticket, because an airport whose services probably should be something that our government

00:09:16.940 subsidized, you actually have to pay for through the taxes on your plane tickets. So it's a system

00:09:22.500 where air travel costs a lot and the airlines are incentivized to stuff as many people into a plane

00:09:27.280 because the government is effectively stealing their profit margin away by demanding large sums of

00:09:33.000 money to maintain the airport, which the government does very poorly and for way too much money that

00:09:38.180 the airlines have to pay for. Anyways, so but this just brings me around to the fact that the liberals

00:09:43.960 are about to fail again on housing. They've had two or three housing plans before this. Each of them

00:09:49.040 had billion dollar price tags. And just because this one costs more than the last one doesn't mean

00:09:53.780 it's very good. If anything, it's going to probably just make housing in shorter supply because people

00:09:59.540 aren't going to want to build in Canada, people aren't going to want to buy in Canada, because

00:10:04.140 what you get for your money is not worth the cost anymore. You'd rather move to Texas, Florida, Idaho,

00:10:10.080 Montana, and buy something simple in a place where you can actually afford your own groceries.

00:10:14.920 Anyways, that should be it for me today, guys. Another plug. Again, I'm Wyatt Claypool. I'm running

00:10:20.000 for the Calgary Signal Hill Conservative Party nomination. If you live in that area, if your current

00:10:24.800 MP is Ron Liepert, that's the area I'm running in Calgary. And then so also I have a legal fund I'm

00:10:30.960 running with the National Telegraph because we're being sued by a ridiculous billionaire trying to

00:10:35.340 sue us for defamation because we mentioned him in an article about Aaron O'Toole. And apparently our

00:10:40.980 mention of him was defamatory, even though everything we said about him that was somewhat negative was

00:10:46.020 linking to a Globe and Mail article. So we never even said anything new about him. He just got mad at us for

00:10:51.240 even mentioning old reporting. And he's suing us, even though he never sued the Globe and Mail for

00:10:55.400 what they said. Ridiculous. It's cost me $26,000 defending us. So if you can contribute anything 0.98

00:11:01.500 to that, it really helps me out. I just had another $3,000 bill come up in order to top up my retainer

00:11:07.560 for my lawyer. My lawyers are actually not even like pricing their hours that much for me. They're

00:11:12.960 very strict on what they consider actual working hours and not. So they're not throwing bills at me

00:11:18.020 all over the place. They've been very friendly. So this $26,000, if I was at any other law firm that

00:11:23.620 didn't like me as much, would have probably been more like $40,000 by this point.

00:11:28.000 Anyways, thanks for watching, guys, and I'll see you guys later.

The National Telegraph - Wyatt Claypool - April 08, 2024

Justin Trudeau's new $6 billion Canadian housing nightmare

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