I see Incel/YIMBY Twitter is coordinating criticism of me.

Here's a brief recap of our relationship.

<thread> ๐Ÿงต ๐Ÿ‘‡

#ToRe #VanRe
2.

Me (2016): Corrupt politicians from China are washing their money in Vancouver, in one of the biggest grafts in history.

YIMBYS: RACIST! That's a lie!

China (2017): Canada. Turn over our fucking criminals.
3.

Me (2017): We built one of the most elaborate capital tracking systems, more complicated than the gov. Money laundering is rampant in Vancouver. This is how it comes in, right down to the gang.

YIMBYS: Fake news!

BC gov (2018): Stephen's right, down to the gang and origin.
4.

Me (2017): I call it the "vacant home epidemic." Bond yields have been crushed, so investors have begun buying homes around the world. We confirmed using electricity data.

YIMBYS: that's a conspiracy!

๐Ÿ‡จ๐Ÿ‡ฆ๐Ÿ‡จ๐Ÿ‡ณ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡ซ๐Ÿ‡ท๐Ÿ‡ฌ๐Ÿ‡ง๐Ÿ‡ธ๐Ÿ‡ฌ๐Ÿ‡ฐ๐Ÿ‡ท๐Ÿ‡ฒ๐Ÿ‡พ๐Ÿ‡ณ๐Ÿ‡ฟ๐Ÿ‡ฆ๐Ÿ‡บ๐Ÿ‡ฎ๐Ÿ‡ณ: Fuck, Stephen is right. Millions of them.
5.

Me (2018): Canadian banks are helping foreign capital smuggle in money, and obfuscating the origin. They literally have no idea who's money they're bringing in, and don't want to.

YIMBYs: Lies! Racist Lies!

Transparency International: Shit, it's literally in court cases.
6.

Me (2018): Foreign money has been flowing into Canada, and they have no idea how much is. Tax free. "Low income" families own the most expensive houses in the city.

YIMBYS: Jealous lies!

CRA (2019): We will be sharing data income data with the Chinese government.
7.

Me (2017): Credit is responsible for higher home prices. Money launderers play a role in pushing them up, but extending money to households gives them debt to buy the launderer's home.

YIMBYS: Misinformation!

BoC (2021): It appears credit drives home prices higher.
8.

Me (2019): Bad monetary policy is a major driver of inequality. The BoC's mortgage bond program is a gateway drug into a special kind of hell.

YIMBYS: Lies! Misinformation.

BoC (2021): QE causes inequality. We're investigating the extent to which it has caused the issue.
9.

Me (2019): So much supply. Had nothing to do with population growth.

YIMBYS: Lies! Misinformation!

*pandemic crushes population growth. 28 homes per person get built, prices still soar*

BMO (2021): It's really not supply. We got that. Taper demand, it's credit. ๐Ÿคทโ€โ™‚๏ธ
10. Prob worth mentioning every single party running in this election confirmed all of those points.

Maybe every institution that agrees with me is wrong, and guys randomly tweeting about me at the same time, and donโ€™t disclose theyโ€™re paid by developers, are right? ๐Ÿคทโ€โ™‚๏ธ
FYI: Iโ€™m not against building more housing. Go nuts. Always going to need more housing.

I just really hate bad math. ๐Ÿ™ƒ

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More from @StephenPunwasi

3 Sep
The Bank of Canada made borrowing cheaper than inflation.

Now just 3 massive funds own over 10% of primary rental housing in West Toronto... but concentrated in a 12-block radius.

Quick thread on ๐Ÿ‡จ๐Ÿ‡ฆ serving up the poor on a platter.
๐Ÿงต๐Ÿ‘‡ #Toronto

@Hulchanski @Martine_August
2. Pensions and institutional investors usually have a massive fixed-income strategy. This is income that comes in regularly.

It's usually bonds. Bonds are essentially owning an issuer's debt, and the yield is the interest they pay to you regularly.
3. Bond yields are determined by how much capital is in the system. If everyone wants to lend you money, you don't have to pay a lot.

Think of Zuckerberg, who pays less than 1% on his mortgage.

The opposite is also true. Think of people with bad credit, that have to pay extra.
Read 11 tweets
1 Sep
Income taxes are a tax on labor.

Property taxes are a tax on the monopoly of public resources.

Why are property taxes so low, while labor taxes are so high?

Your first hint is the class of people who designed the tax system.
2. The one thing (real) capitalists and socialists agree on is land is prone to a natural monopoly.

Monopolies are against the publicโ€™s interest, so the theory is it needs to be made inefficient to hold land without a real use.

Thread for folks asking for an explanation.
3. Life is ideally a balance between private wealth and the interest of the public.

The Lauderdale Paradox is one of the first explorations into the concept.

Every gain a private person makes, uses public resources. Improvements to life come at the expense of the public. ๐Ÿคทโ€โ™‚๏ธ๐Ÿงต๐Ÿ‘‡
Read 4 tweets
29 Aug
What if socialism is the secret to great hair? ๐Ÿง Image
2. Exhibit B. @David_Moscrop before and after socialism. ๐Ÿง ImageImage
3. exhibit C. @elonmusk before and after billions in government subsidies. Coincidence? ๐Ÿง๐Ÿคทโ€โ™‚๏ธ ImageImage
Read 4 tweets
26 Aug
๐Ÿ‡จ๐Ÿ‡ฆ proving itโ€™s a banana republic.

The first election where people under 40 will outnumber Boomersโ€ฆ

โ€ฆ and ๐Ÿ‡จ๐Ÿ‡ฆ wonโ€™t be setting up campus voting for the first time in decades because of โ€œโ€ฆ the minority government situation.โ€

#cdnpoli #ItsOurVote
What Elections Canada is doing is voter suppression.

If this happened in ๐Ÿ‡บ๐Ÿ‡ธ, Canadians would talk about how GOP is corrupt and theyโ€™re so glad they live in ๐Ÿ‡จ๐Ÿ‡ฆ.

Now that the elections officer Trudeau appointed removed access to voters he polls poorly with? Silence. ๐Ÿคทโ€โ™‚๏ธ

#Elxn44
I donโ€™t think the Liberals know how shitty this looks, but give it a few days.

Elections Canada is galvanizing distrust in your governance with young people right now.
Read 4 tweets
24 Aug
Liberals now promising a ban on foreign ownership of real estate.

I thought Liberal supporters said this was xenophobic when the Conservatives proposed it? ๐Ÿคทโ€โ™‚๏ธ

#elxn44 #VanRe #ToRe
2. Interesting sidenote. Trudeau made the announcement in Hamilton, Ontario.

The IMF told us Hamilton was 40% overvalued, one of the largest overvaluations in the world.

Here's the IMF model they shared, and this exclusively happened under the Liberal government.

#HamOnt
3. For anyone else that's curious, this is what the IMF models look like for Toronto and Vancouver.

Once again, almost all of this gap between fundamentals and price occurs under the Liberal government.

#ToRe #VanRe

betterdwelling.com/canadian-real-โ€ฆ
Read 6 tweets
22 Aug
People keep comparing rent subsidies to minimum wage increases.

This isn't even close to the same, and implies a very poor grasp of basic economics and business.

Quick thread. ๐Ÿงต๐Ÿ‘‡
2. Idiots say if you raise the minimum wage by $1, it'll result in much more expensive food.

We know that's not necessarily true, because a $1 increase to labor is not a $1 increase to product output. It doesn't take a whole hour.

It takes 5 min. So it adds 9 cents.
3. Giving cash subsidies for market housing is very different. When the cost of shelter is rising fast, the market can more easily absorb it.

That's how high home prices are justified. They cut interest rates, so now people can carry a higher cost of housing.
Read 15 tweets

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