True Patriot Love - March 27, 2026


NEW HOUSING INITIATIVES ARE COUNTER-INTUITIVE - TPL EXCERPT


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Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, Mike and Paul discuss the federal government's $1.7B plan to subsidize new home development in Ontario and how that will impact existing home prices and rental prices. They also discuss the demographics of the housing market and how this plan will affect existing homeowners.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 Hi and welcome to tplmedia.ca. I'm Mike, this is Paul and friends. This is amazing news. Our
00:00:07.340 government has come up with a solution. The housing crisis is over. The diminishing of
00:00:12.180 your house price is going to end and everything's going to be okay. Hold on, Mike. Hold on one second.
00:00:18.860 So they did announce a couple of things this week. It was actually a very active week on
00:00:24.800 the housing front so the federal government is going to give the provinces 1.7 billion dollars
00:00:30.600 so 1.7 billion dollar band-aid which quite frankly when we pull it off is only going to cause a
00:00:36.000 bigger wound the a lot of provinces or ontario specifically is providing a gst holiday uh for
00:00:44.120 new builds up to i think it's 1.5 million the challenge with all of these it's working against
00:00:52.240 the existing homeowners and that's the challenge supply demand this is simple supply demand
00:00:57.360 we have too much supply in the market and all we're doing now is starting to subsidize more
00:01:02.940 supply which will push costing or pricing down for existing properties we would be better off
00:01:10.400 mike better off to provide programs to existing homeowners to fix up their homes to to fix up
00:01:16.600 neighborhoods to make those homes saleable first before we get actually to incentivizing or
00:01:21.960 subsidizing new home development or new rental development.
00:01:25.440 Also, if you think about it, Mike,
00:01:27.000 one thing you gotta think about,
00:01:28.520 how's this gonna affect the existing rental price
00:01:31.400 for existing renters?
00:01:32.720 That was my question to you.
00:01:33.780 I'm a landlord.
00:01:34.600 I bought that property at the top end of the spectrum.
00:01:38.300 I put more supply into the market.
00:01:41.180 And now my business model is broken.
00:01:42.600 My business model is broken.
00:01:44.200 My rents are decreasing.
00:01:45.780 How do I pay that mortgage?
00:01:47.500 It does not help the problem.
00:01:49.380 It also leads to the question, okay,
00:01:50.760 If you're creating new, all the incentives are about new builds.
00:01:54.260 That's great for developers, as you point out.
00:01:57.160 But also, how do you build the infrastructure in?
00:01:59.760 Where's the money coming from to build infrastructure that's going to make the next exit off to that subdivision, put in the infrastructure needed?
00:02:07.580 We have went through the whole nation and found that every single province is starting to defer development fees.
00:02:16.800 So we don't have development fees to put the infrastructure in to pay for the homes.
00:02:21.520 We're going to build new homes farther out from the core.
00:02:24.940 So to your point, roads, sewers, all those things are new.
00:02:28.400 They're further out.
00:02:29.160 We're going to need transportation to get them in.
00:02:31.780 The whole thing doesn't work.
00:02:33.720 A couple of weeks back, you and our resident realtor expert, Chris, had a discussion.
00:02:39.200 Yeah, yeah.
00:02:39.960 Chris from Real, great guy.
00:02:42.020 We sat down and please watch the show because we went through this topic and we went, it was called rent first buy.
00:02:50.620 It's a must watch because it takes you through the demographics of Canada.
00:02:56.160 Who's buying, who's renting, who should be buying now.
00:02:59.280 If you're going to buy what you should be buying, what you should be building.
00:03:03.360 Not once in the show did we talk about subsidizing anyone to build anything in Canada.
00:03:08.480 It's so amazing how this episode fits perfectly just a few weeks later.
00:03:13.160 I recommend you watch the whole episode.
00:03:14.840 Meanwhile, here's a really interesting clip from that show now.
00:03:22.500 So government said, okay, I don't know what to do, but I still have the money there.
00:03:26.040 So they're still federally trying to push this initiative.
00:03:29.220 It's still slow going forward, but they're giving the money.
00:03:32.680 So I went through before the show, and I took a look at all the provinces where we've waived development charges, we've waived permit fees, we've eliminated HST, and it's almost every province in Canada has seen.
00:03:54.560 Well, except Ontario.
00:03:55.120 Except, well, Ontario, actually.
00:03:57.520 I don't think, I don't think.
00:03:58.300 Have we ever waived the development?
00:04:00.840 I've never heard of that.
00:04:01.500 Mississauga just did it.
00:04:02.680 on rental homes oh wow right toronto just did it on duplexes and six plexes so we're just starting
00:04:09.400 to do it now so the message we're sending so this is an interesting message so i got there a different
00:04:15.000 way but i got the same way as you all of a sudden the system you know somewhere along the way they've
00:04:20.760 realized i guess they've looked at the numbers and that's being they being the government at
00:04:24.920 different you know levels provincially and federally have realized that home sales
00:04:32.600 don't have a good shot at going up yeah right they haven't said it publicly but quite frankly
00:04:38.680 they've seen the stats and they've seen just looking at the normal demographics of aging
00:04:43.400 versus birth rates it's not that hard to figure out so they said okay what do we do we can't have
00:04:48.440 a bunch of new people and the only way we can grow our population is bringing in new people
00:04:54.920 Hmm. What a conundrum, man.
00:04:58.320 Well, it is, but, but, but all the, we need new people.
00:05:01.680 They need, they can't afford to buy.
00:05:03.800 They got to rent.
00:05:04.800 There's not enough rental.
00:05:06.320 Like there's, there's quite a few things that we gotta, we gotta think about.
00:05:09.480 Well, that's, that's where this war, it's another show for another day, but there's
00:05:13.800 a whole show that we need to talk about because this war right now happening in
00:05:18.320 Iran has a number of challenges, especially if it goes long and, and the country 1.00
00:05:24.320 is decimated because there isn't a country to put these people the problem the problem we have now is
00:05:29.440 every country is full and they're full because there's no housing and there's no social programs
00:05:35.240 to accommodate them anymore it's not that no one wants them it's the fact that this is that this
00:05:40.340 is something that's got to be dealt with and that's a whole other show but but you know here
00:05:44.780 we are so in canada we're sitting here and we're looking at this and we're trying to in we're trying
00:05:50.160 to incentivize people to build affordable rental properties through government subsidization so
00:05:58.160 we're working against if you think about it we're working against our actual homeowners
00:06:05.200 right so now you don't have to call me i know you're in the institute but that's my view so my
00:06:09.920 view is we're we're really working against the value of our own so so now if i'm if i'm sitting
00:06:15.760 there and i'm sitting with uh jimmy and janie's uh parents at the at the dinner party you know
00:06:23.520 i say to them the same thing i just said you buy a rental property so have them have them rent go
00:06:30.880 you know go get them to stay on the first floor that too right so they they they take the first
00:06:38.000 floor and the two floors above them are rented out absolutely but don't live room by room don't do
00:06:44.240 what some of these people are doing now the the challenge is that brampton story i just told you
00:06:48.880 the challenge of that story quite frankly is it's a nightmare for your social for the for your social
00:06:56.400 mental well health it's not good and that i never tell anyone to do that because i've seen that
00:07:02.240 model before it very seldomly works quite frankly it's hard on the guy who's levered he's levered
00:07:10.400 multiple homes basically nowhere and tear it's it doesn't pay off but so by the time he goes to sell
00:07:16.560 it he's rebuilt the home you know i had someone call me uh a year ago and it was an old friend of
00:07:22.640 mine uh who i met through shara um and he called me and he he said to me he said do you want to buy
00:07:28.800 this home and i said i don't know he said he said i've redone the home and it has multiple rooms
00:07:34.640 it has 10 rooms for people to rent and he said but i said does it meet code right he goes no crickets
00:07:41.920 oh right and i said so so you're saying to me if i take the home i have to gut it rebuild it inside
00:07:48.320 you know and then i have to try to sell it my the neighborhood is full of exactly the identical
00:07:55.120 type of people who have bought these homes and subdivide them illegally into multiple homes
00:07:59.440 it doesn't work the way to go right it doesn't work so no you know i i say to people buy go out
00:08:04.720 and buy yourself a rental unit that's segregated by family pay it off the way then buy the next one
00:08:13.920 and then buy the next one that's the way and and if by luck you meet a nice lady or man along the
00:08:19.600 way and you decide you want to have then you have a nice little nest egg you haven't overleverage
00:08:24.000 yourself and you can get into it and that's the way to do it and you know then okay i'm the parents
00:08:29.840 look at me go but but aren't they going to lose that opportunity to to you know have their money
00:08:35.600 grow and everything else i said well their investment will grow the money aside from what
00:08:40.160 they're paying for the unit so number one once it's built the unit will carry itself yeah right
00:08:46.080 they're going to live on the first floor they're going to then pay off what they brilliant you
00:08:50.560 know it'll pay for itself it pays for itself they can take the money from their other job
00:08:56.720 they can go out and actually uh you know invest in something invest in another apple
00:09:03.280 yeah or nvidia or whatever make a ton of money precisely and have a great life 100 retire early
00:09:09.520 because quite frankly i don't think there's going to be any pension plans for them when they're
00:09:12.880 ready so they gotta set themselves up so this is a really nice way to go you're not fighting the
00:09:19.200 government you're using the money of the government so you're not you're not going out and buying a
00:09:24.640 home trying to struggle through against the government you're actually working with the
00:09:29.600 government's objective to build these homes if they're going to bring in people you got to make
00:09:34.320 sure you get nice renters hopefully the renter laws will be get better you know and they are
00:09:39.440 getting better they're they're developing uh you know eviction laws and everything to get people
00:09:45.120 out because you do hear horror stories yeah that's true you know you have to be very selective so
00:09:49.360 before the show it's interesting i did a uh little analysis and we took a look at uh basically rent
00:09:58.400 first buy over a 10-year period on a million dollar home and we ran it off or the average
00:10:06.240 price per home by province and we ran it off to see if it said buy or rent i'm interested yeah
00:10:14.160 What did you get?
00:10:17.340 The only province that it told you to 100% rent based on the pure economics.
00:10:25.780 Can I guess?
00:10:26.660 Yeah.
00:10:27.320 The only province that told you to rent over buy?
00:10:30.560 Yep.
00:10:32.720 I only have two that come to mind and I have to take a guess.
00:10:38.560 I'm going to go with the highest home price average.
00:10:42.300 So I'm going to go with Vancouver.
00:10:44.160 I'm going to go with B.C.
00:10:45.680 Well, actually, because the rents are so high in B.C. right now, they still haven't come down enough.
00:10:52.220 So the rents are still...
00:10:53.460 So I lost.
00:10:55.940 No, no, it's all right.
00:10:56.700 The rents in Vancouver right now are still $4,000 for a two-bedroom.
00:11:01.160 I see.
00:11:01.900 So it didn't catch.
00:11:03.020 So there was a slight increment.
00:11:04.440 So basically, it told us that buying saves you over 10 years about $40,000.
00:11:11.080 Interesting.
00:11:11.920 Yeah.
00:11:12.160 So it is still...
00:11:13.380 It is still...
00:11:13.740 is if you think about it right amazing now that's over 10 years it probably again if it's not
00:11:19.180 comparison it to it's not comparing it to another investment it's just saying rent first buy right
00:11:23.820 let me take something from there so so you said 10 years and i just want to to highlight the fact
00:11:30.220 that before you're thinking of buying or renting i mean we started the show with this and i'm going
00:11:36.460 to say it again yeah it is critical to look at the individual's lifestyle their vision their goals
00:11:43.660 what are they trying to accomplish it's not you should buy because chai gpt said it is so based
00:11:50.620 on the individual so that is 10 years if you you if it's in your in your cards for you to
00:11:58.540 be living in canada for 10 years then yeah sure buy but some people are adamant that they're like
00:12:03.820 nope i want to live here for the next five years and then i want to travel the world for five and
00:12:07.660 then i want to well in that case then we need a different strategy and that's why it's important
00:12:12.140 to look at lifestyle and and future like what are you trying to accomplish in the future it's not
00:12:17.900 a blanket statement of you should buy anymore and that changed ever since i made a note here
00:12:24.060 that changed ever since people started to make money online so i just want i just want to just
00:12:29.420 drop another nugget here yep initially okay like you know your parents they they decided that
00:12:37.900 purchasing a home was the best way that they knew how to preserve wealth and build wealth there was
00:12:44.380 no other option or or you you go and you buy a farmland and you start farming or like you know
00:12:50.140 what i mean it was just more you know it was more ding ding ding like you have to actually do stuff
00:12:55.260 but now we have a new generation and a new way of making money people are making money online
00:13:02.300 In fact, it's so easy to make money now. And, you know, sometimes I see the money that my son,
00:13:10.860 he has a little investment account. I see the money that he's made in his investment account.
00:13:14.780 And inside I'm like irritated in a way because I'm like, Oh my God, like you've been investing
00:13:18.620 for less time than me and you're making more money than my investments. So it's, it's something
00:13:23.260 that has changed. We have to realize that this way of making money from being at home and investments
00:13:30.700 and Instagram and marketing and Facebook and Meta
00:13:34.920 and all this stuff that happens online,
00:13:36.980 that has changed the way that we preserve and make money.
00:13:40.280 Therefore, it'll change the way that we see home ownership.
00:13:45.400 And honestly, at the end of the day,
00:13:46.960 all we really need is shelter.
00:13:49.780 That is the part that we wanna highlight, shelter.
00:13:52.900 Whether we own it or rent it,
00:13:55.920 it's pretty, if you think about it,
00:13:57.520 it's pretty insignificant.
00:13:58.400 What we want is the wealth
00:13:59.360 so that when we can't work anymore, we have something to leverage so that we can continue
00:14:04.320 to live our lives until we take the last breath. But that's really the, in the most basic way,
00:14:10.440 that's really the whole concept is preservation of wealth. Yes. So now if there's other ways to
00:14:14.940 make money, then maybe owning is not necessary. However, if you're going to be there for long
00:14:19.600 term, I agree. And I would argue, not argue, but I would probably, it's not an argument,
00:14:26.040 I mean, I would predict that if you ran this for 20 years, it would make even more sense to buy.
00:14:32.480 So for someone that is established and this is what I love to do, this is my community, I'm having my kids here, I love that school, I want them to go to that school, I want them to go to UFT and to York and whatever.
00:14:42.660 And you know exactly where you want your family to kind of put roots down, then buying is always going to be the option, but it's all dependent on the individual.
00:14:53.740 and if it appreciates and if it appreciates yeah yeah so so now the the interesting thing is so
00:15:01.600 this so what's the appreciation that you calculated so this is just three to five percent or yeah so
00:15:06.940 it's like uh inflation is okay yeah to this but yeah but you know the interesting part of this
00:15:12.880 when you look at it that's all assuming it goes up gradually it goes up gradually right now that
00:15:20.080 doesn't always happen and that's that's why i think we've learned but but you know it's it's
00:15:25.040 interesting as we go through this and we looked at the analysis ontario was the only one
00:15:32.000 where you should rent and you should rent because you save yourself 11 600 over 10 years more wow
00:15:41.740 so there's no there's no advantage to now it's it's interesting you could say well you know i
00:15:46.460 i got some equity in it you did quite you got a little bit of equity quite frankly depending on
00:15:52.380 what interest rates and your payment plan and what your term is and all that good stuff so
00:15:56.220 you got some money in it but quite frankly you could take that additional monies that you didn't
00:16:00.540 pay in proper tax and all the other things you can invest into other things and you probably
00:16:04.540 should have caught it then we didn't even we didn't even account for that in this analysis
00:16:08.380 this is just straight up rent first buy and uh looking at a million dollars or whatever the
00:16:13.260 average price was per region was so that's what we did so it's a very interesting analysis yeah
00:16:18.620 yeah and now when i'm sitting at that dinner party i always ask them that did you run the analysis
00:16:25.500 no no we didn't run it but i'm okay well maybe you need to run it so now all these people sitting so
00:16:31.900 now you have you got a marketplace full of and we just saw it from the stats today we have a hundred
00:16:37.260 thousand apparently from all the agencies across canada we have hundreds of thousands of people
00:16:42.300 sitting on the sidelines waiting right we have hundreds of thousands of people that are aging
00:16:47.900 that are waiting to sell yeah so at some point they should marry up
00:16:54.060 the issue is when do they marry up and at what point and how low does it go before they meet
00:16:58.860 each other and that's you know it was interesting you you said something very uh compelling on the
00:17:04.060 last show that i remember i use this now everywhere i go you know real estate's not about when you
00:17:10.540 buy real estate or sell real estate it's not where you are today it's where you're going to meet it
00:17:15.500 where it is tomorrow right so that's kind of following that trace line and figuring out where
00:17:19.500 to hit it right so now you have a bunch of people aging who are trying to figure out when the magic
00:17:25.660 number so the interesting part is that they're not selling now so the inventory on the market now
00:17:34.380 hasn't gone up you're seeing it you haven't seen more homes enter onto the market so they're
00:17:41.180 sitting saying oh it's going to go up at some point so they're trying to they're trying to time
00:17:44.860 it they're trying to create a shortage in supply but father time father time is is is going to be
00:17:50.860 against them they're going to get older they're going to i mean and even i even when i'm consulting
00:17:55.900 people that want to buy or sell i always tell them i mean it's very difficult to time the market
00:18:00.380 you just have to make the right decision in the time that you're in right now and i wrote down
00:18:04.780 here where you while you were speaking i said we need perhaps i don't know i'm gonna say this but
00:18:08.860 maybe i'm gonna get in trouble we need better familial support so i think i think there comes
00:18:13.260 a time that you know uh children grandparents and parents and that i mean we all need to kind
00:18:18.780 of hold hands and and just say okay well how does this work better and perhaps the time is that um
00:18:24.540 uh you know these folks are getting out of their house allowing their their their children with 1.00
00:18:29.900 with their families to move into their home.
00:18:32.020 And then instead of paying for the house
00:18:34.100 that has been paid off, maybe they buy a condo
00:18:37.040 and they pay for the condo for the grandparent.
00:18:39.620 And then it's kind of like a trade.
00:18:41.000 I think there needs to be more barter trading
00:18:42.960 happening right now and avoid the transaction.
00:18:45.820 There's a lot of fees, a lot of costs actually
00:18:48.460 that we can avoid if we can barter trade
00:18:51.460 within family, barter trade,
00:18:54.520 and just go back to prehistoric days, man.
00:18:56.700 We need to go back to some basic stuff.
00:18:59.240 I'm sure they do because you can't even buy in.
00:19:01.700 Well, there are some places like in London.
00:19:03.180 Good luck trying to buy something in London, right?
00:19:05.340 It's headed down from generation to generation, right?
00:19:07.940 So you get, they have 50 year mortgages, right?
00:19:11.000 Yeah.
00:19:11.240 50 year mortgages that get paid off between generations of people before they extinguish.
00:19:17.040 Like, I know that sounds crazy, but, but, but I mean, it makes sense.
00:19:20.640 And we need to adopt some of the, some of the, the, the, the, the, the strategies that
00:19:24.040 these guys have in Europe, perhaps, I don't know.
00:19:26.240 So now here's the other piece.
00:19:27.540 and this is the piece i haven't brought up but this is also what i'm sitting at the
00:19:30.980 dinner party and there are you know they go to get their second drink because i'm sure
00:19:41.060 patriotic means looking out for each other and fixing things together true patriotism
00:19:47.300 is being in the country you love surrounded by people you love and great weather being
00:19:51.940 a patriot is being a part of your community and caring for it it doesn't matter who you
00:19:55.780 are or where you're from patriotism is the one thing we all share it's okay to be critical of
00:20:01.780 government and still be a patriot it's gratitude to your country of course i'm a patriot i'm
00:20:07.220 I'm Canadian, it's my home.
00:20:09.100 Well, actually, true patriot love is the mission.