Housing crisis: How to reach financial security as a renter
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- čas přidán 15. 05. 2024
- Homeownership is viewed by many in Canada as a milestone and a major step on the path toward setting oneself up financially for retirement.
But breaking into the housing market remains elusive for many Canadians.
In recent polling done exclusively for Global News, around 72 per cent of non-owners said they’ve “given up” on ever being able to own a home.
Meanwhile, 80 per cent said homeownership is now a privilege reserved for the rich.
Anne Gaviola has more on whether renters can set themselves up for financial success in the long run.
For more info, please go to globalnews.ca/news/10452820/r...
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#GlobalNews #housingcrisis #housingaffordability
I like how Globals shows you "how to own nothing and be happy"
Step 1, Leave Canada
Step 2 is leave Canada. Step 1 is blow all your savings in lottery tickets. A million dollar windfall might cover part of a down payment lol.
Very true, there is alot of room in other countries of the world to live now.
Simple. MOVE out of Canada.
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
People prefer to spend money on liabilities, Rather than investing in assets and be very profitable
You are so correct! Save, invest and spend for necessities and a few small luxuries relatives to one's total assets ratio
Thank you Angela Christine Derle for $60,000👍🏻. There are so many opportunities to make money here on CZcams but most people don’t know. Thank you for continuing updates I'm favoured, $60,000 every two weeks ! I can now give back to the locals in my community and also support God's work and the church. God bless America
Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.
Thanks to my co-worker (Alex) who suggested Ms Angela Christine Derle
Canada is becoming unreasonable for renters its a safe heaven for illegal money and investors and the pay is not matching the rent
Canada isn't alone and those other places haven't solved it either.
I had my heart set on Canada earlier this year to move to permanently with my small business enterprise but Canada is not as cheap as I thought it would be but I guess this is a global thing. I have lived in 5 countries over the decades but this renting vs mortgage debate is certainly global and is trashing dreams for many many people. You have to be really financially savvy earlier on in life and unfortunately for me I didn't look at properties in-depth like I should have but still have a light of optimism that says never say never
@StephSancia Canada would be lucky to have you. One big consideration for your business would be. We have a tax rise every 6 months. That will effect the price of goods. The cost of transporting the goods. Also the cost of heating and lighting your store. Also if you look at the world debt clocks thing are not good.
@@EyeSee4.8 actually I work from home with a retail fashion design enterprise in a niche market. I'm currently renting a 5 bedroom rustic farmhouse and all businesses conducted online so I think you have got your head into some stereotypical High Street boutique and although that sounds wonderful I have found that working from home in a suitable property is more productive and stress free for myself. I honestly think that in 2024 working online has taken fancy with a lot of people and I think it is critical for global sales but as a one person business enterprise then this situation for me is absolutely perfect
@@roofpizza1250you can move to the states. They don’t have this problem. Houses are half the price and incomes are 20% higher.
CANADA is doomed
Welcome to Trudeau's and Singh's Canada 😏
Definitely Liberal for the rest of the third world eh
FJT and liberal voters
PP gonna save Canada is he? The next millionaire “politician” he has your interests at heart for sure!
Blame Liberals and NDP causing this housing hell.
past conservative governments have their part of the blame too. and polievre was the housing minister under harper so his past track record shows he has no common sense plan for housing either.
Poilievre helped cause it. Never saw him saying we need to end immigration.
@@Trythis837thank you! this is the correct answer 👍
@@Trythis837 so wrong
@@Trythis837That's because done right immigration is a good thing. Now doing it the liberal way by bringing in 15 times more is crazy.
Financial security as a renter....LMAO......
Leave Canada, that is your only option.
soon it will be... renting a room is only for the rich if we keep on this trajectory
rents also unaffordable, only homelessness or live in a container can is future
@JSRTALES actually in New Zealand there's some pretty neat dwellings that have been created with 3 to 5 containers and absolutely stunning decor and mind blowing backdrops with mother nature so don't knock the shipping container idea too early ...
It’s pretty crazy that they’re trying to convince you that if you have discipline and buy nothing that homeowners get to buy and just give up on having all the things that homeowners have then you can get “ahead” of homeowners????
Mmm, how to reach financial security as renter at 16 dollars an hour and rent is 1600 a month.
i have a big house empty basement apt, i wont rent, fuuuuuu
"just be disciplined and save" house prices expected to go up 40-60k this year in my area. Thats more then 2 years worth of savings for me. Lmao
Move country.
Option B is to be trapped and unable to move. My current rent goes from $1040 to around $1625 + hydro, if I leave and return to my own apartment. This is for a side move to another 60s/70s old apartment building, no upgrades.
I'm 40 and never owned a home. I don't feel like a 25 year variable mortgage is safe at this age. debt-trapped in one extremely unaffordable location until retirement, no thank you.
Home ownership rates are higher in Cuba than they are in Canada.
so we should do what exactly?
Simple, as they said in the article. Just put all of your disposable income (*cough) into the overinflated and incredibly volatile stock market.
Alternatively, you could just head to the casino and gamble there. The average person with limited investing know how will probably experience similar results, whether it be the stock market or casino.
Good luck out there everyone.
@@westcoastwoodsman2289haha😅
9 years of Liberal govt ...you get what you voted for ......my grandsons university economics prof told the class they will likely never own a home in Canada
Guarantee most of you complaining are driving a new car! That 500$ monthly car payment is over 110k after ten years. Can afford new cars but not a house? Learn finance folks
Where is there afforable rent in Canada?
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I appreciate this. After entering her full name into my search bar, her professional web page surfaced as the top result. Her impressive qualifications undoubtedly speak volumes about her expertise
Renters have a poorpose for a reason.
😂 Saving as a renter. Rent is increasing 100 per month in Canada.
Are you a home owner? Look into the Smith Maneuver. Make your interest Tax Deductible.
Congrats on the housing construction project in Canada 🇨🇦
Winnipeg is the answer
Don't forget people, diversity is our strength 😅
Next week expect a video “How to live happy as a bum”.
Discipline! Start by deleting your food delivery apps
Global news - you offer nothing to the conversation with your copied stories.
Nobody owns anything in Russia and they're happy aren't they?😂😂
You obviously haven't been to Russia. Such an ignorant remark.
@@glennhankins6927 More or less ignorant than invading your neighbour?
@@bobwoods1302 I see you're doubling down on your ignorance by being clueless as to the cause of the Ukraine conflict.
@@glennhankins6927 Only Russia can bring peace by stopping fighting.
@@bobwoods1302 Russia and Ukraine had a peace agreement 2 years ago, but America made Ukraine back out of it !
Canada cannot afford to turn away foreign money which has been jacking up real estate prices in high population growth cities. Government red tape and cell phone tapping workers make home construction slow and expensive. Property owners love to see their homes double, triple and keep going up in price. Wages and salaries continue to lag behind. Younger generations face the blues.
It's time to revolt and force all the foreigners to sell at the same time and park their money on commercial properties. Anyone with 2+ houses should be taxed appropriately to prevent dumb money. Mortgage is only allowed for a primary home only.
@@almontoya5703 That would be extremely wrong. Why not have more controls on immigration like we used to.
@@EyeSee4.8 This will prevent abusing the housing market. Immigration is not only the problem. The amount of foreign money, including laundering is staggering. Another problem is there are people here (canadian citizens) are using foreigners money to buy homes on behalf of them and they get paid for that. That is a loophole that needs to be looked at.
@@almontoya5703 I can agree with you on that part.
17 years of renting will become forever because you have no drive to own.
😂😂😂 Ok bud
Lmao
Are you willing to live outside major metropolitan cities? If not, then good luck finding a place.
Normalize Ⓐctíve tenant unions and worker and🏡🏘️co-ops. Preserve and expand our🗳️democracy. Workers make this country run, workers should run this country☭.🏴🇨🇦