Why No One Wants to Live in Canada
2 and 20・2 minutes read
High expectations after Justin Trudeau's election in 2015 turned sour as record high housing prices and food insecurity plague Canada, with the average family needing $170,000 annually to afford a home and food prices rising by over 10% since 2022. Government policies like immigration and a lack of housing investment, along with high costs due to carbon tax and lack of competition, contribute to the country's economic decline and high cost of living.
Insights
- The promise of change by Justin Trudeau upon his election excited Canadians, but the reality has led to a housing crisis and food insecurity, with owning a home now requiring an average family to have $170,000 annually.
- Government policies, such as immigration and lack of housing investment, alongside economic decline and talent exodus, have exacerbated the housing crisis and rising food costs in Canada, impacting citizens' quality of life significantly.
Get key ideas from YouTube videos. It’s free
Recent questions
What were the results of the 2015 Canadian election?
Justin Trudeau elected Prime Minister
Related videos
Money & Macro
Economist explains why you can't afford a house anymore
MR PATEL
WHY ARE PEOPLE LEAVING CANADA IN 2024 || REVERSE MIGRATION EXPLAINED || MR PATEL ||
DW Documentary
The chasm between rich and poor - Homeless in the wealthy West | DW Documentary
The Obama White House
President Obama Addresses Parliament
Vox
Inside Hong Kong’s cage homes
Summary
00:00
"Canada's Cost of Living Crisis"
- October 19th, 2015, election night in Canada saw record voter turnout with Justin Trudeau elected Prime Minister.
- Trudeau's promise of change and a bright future for Canada excited citizens.
- However, the Canadian dream has turned into a nightmare with soaring housing prices and food insecurity.
- Owning a home in Canada has become nearly impossible, with the average family needing $170,000 annually to afford one.
- Rental vacancies are at an all-time low of 1.5%, leading to skyrocketing prices and desperate living situations.
- Government policies, including immigration and lack of housing investment, have contributed to the housing crisis.
- Food prices have risen by over 10% since 2022, with a lack of competition leading to high costs.
- The government's carbon tax and lack of competition in industries like telecommunications and banking contribute to high costs for Canadians.
- Canada's economic decline, lack of private sector investment, and exodus of talent are further worsening the cost of living for Canadians.
