Poilievre calls out 'gatekeepers' while addressing home ownership in Vancouver
Episode Stats
Words per Minute
165.44402
Summary
Why is it that Vancouver has the 3rd most unaffordable housing market in the world, behind only Manhattan and Los Angeles, and Singapore, and even Singapore, all places with more money and people but less land? Well, partly because the government at Ottawa has printed over $400 billion of new cash, much of which has funneled into the mortgage system and been borrowed out by wealthy investors who have borrowed it and bid up housing prices. But the other reason is that local gatekeepers are blocking the poor, the working class, and our immigrants from the privilege of owning a home here in this country.
Transcript
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Want to see a $5 million house here in Vancouver?
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Here it is, $4.8 million is the listing price for this baby.
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Now, before I go any further, let me acknowledge that a realtor would tell you
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you could tear it down and build more units on it.
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The place next door appears to have about six units on a similar footprint of land.
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So let's say that you get six units right here.
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Well, that works out to $800,000 for every single unit just in land costs.
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But then, of course, you'd need materials and labor to build.
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And you'd need all the government permits and building approvals from City Hall.
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So that means that each unit is going to be over a million dollars.
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A million dollars for the privilege of living in a multi-unit housing situation
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that would ultimately mean a mortgage for many people of $950,000.
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Who can afford payments on a $950,000 mortgage?
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Why is it that Vancouver has the third most unaffordable housing market on planet Earth
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ahead of Manhattan, Los Angeles, London, England, and even Singapore?
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All places with more money and people but less land.
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Well, partly because the government at Ottawa has printed over $400 billion of new cash,
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much of which has funneled into the mortgage system and been borrowed out by wealthy investors
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who have borrowed it and bid up housing prices.
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Howe Institute, the governmental cost for every single unit of housing in Vancouver is $644,000.
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That's the cost of getting your approval, getting the zoning change, getting the permit,
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and paying all the fees directly to the city and to the many consultants you have to hire to get it done.
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These government gatekeepers protect the wealthy.
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They get wealthier and wealthier by the day as their limited and scarce property goes up in value.
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But the working class person who can't actually pay his or her bills, let alone save for a mortgage,
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One, well, a Polyef government will stop the central bank from printing cash for politicians to spend
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But on the supply side, a Polyef government would require municipalities like Vancouver
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speed up building permits and reduce the governmental cost associated with building things.
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My message to City Hall here in Vancouver is remove the gatekeepers.
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Stop blocking the poor, the working class, and our immigrants from the privilege of owning a home here in this country.
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It used to be a right, and it should be, again, if you're prepared to work hard,
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Back when this was built, it was probably a family with a very modest income
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could have afforded that piece of heaven for themselves.
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It would have been a wonderful, cute little house to live in for a working family.
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They could have, with a wage of a trucker and a waitress,
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probably bought that house 40 years ago and paid off the mortgage in a reasonable time frame.
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But now, 40 years later, we look around and say, could young people with a similar working class background own the exact same house?
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Shouldn't our working class be better off today than it was 40 years ago?
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Why is it that we were able to house a family with a modest income in a house like that four decades ago?
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And now, even when you subdivide it into six units instead of one, it's still not affordable for a working class Canadian.
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The cost of government is driving up the cost of living.
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We need to fix the monetary system to ensure it no longer inflates asset values out of reach.
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And we need to get the local gatekeepers out of the way so that we can build more homes.
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In other words, stop printing money, start building houses, that's what a PolyEF government will do.
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If you want to take back control of your life and give yourself, again, the freedom to own a home,
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buy a membership to support me in this forthcoming leadership race so that I can fight for you
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and put you back in control of your life by making Canada the freest nation on earth.
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The children and children pud происbars for their life.