πŸ‡¨πŸ‡¦ should think twice a housing bailing out.

A drop in home prices will restore productive investment & over half of the largest voting demographic currently has no chance of homeownership.

Things like increasing the CMHC limit is a death blow to the future.

#ToRe #VanRe 1/
2/ Not everyone needs to own, but affordable shelter needs to be the alternative.

The fewer anchors young & skilled labor has, the more likely they’ll migrate to countries that will heavily outcompete πŸ‡¨πŸ‡¦.

Live in a micro apartment to fund my retirement, isn’t a great pitch.
3/ we know increasing leverage allows people to borrow more future income to pay for a home, increasing prices.

Yet policymakers are hell bent on making sure you can borrow more.

They don’t limit 30% of your income for housing to save you, they want 30% perpetually.
4/ Also, 30% of your income on shelter is completely arbitrary.

CMHC archive data shows in the 70s and early 80s, households spent less than 20% on avg.

We let investors and mortgage companies, whose job is to generate more mortgage debt, determine how much housing costs. πŸ€·β€β™‚οΈ
*think twice about a housing bailout. I need a Twitter editor to proof and ask questions. πŸ˜‚

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More from @StephenPunwasi

May 21
North America (yes, πŸ‡¨πŸ‡¦ too) has a baby formula shortage.

πŸ‡¨πŸ‡¦ built a baby food formula plant w/ the largest foreign agriculture investment for ON ever. πŸ‡¨πŸ‡¦ won't disclose how much they provided.

πŸ‡¨πŸ‡¦ will also provide prison farm labor for the company.

It's almost all for export.
2/ Want to learn more? Sources.

Farming is rehabilitative. Commercial farming isn't, especially in mass dairy agriculture.

@EvolveOPF has been trying for years to warn the Liberals brought back a program the Harper gov discontinued because it was cruel.

evolveourprisonfarms.ca/prison-farms-f…
3/ The company that's supposedly receiving the prison labor received ~$24m from ON to build the plant and the Fed won't disclose how much they kicked in.

Kingston, which "has no land" so homes are $1m, transferred 16 hectares of land to the company.

cbc.ca/news/politics/…
Read 5 tweets
May 12
I ❀️ how πŸ‡¨πŸ‡¦ skews data.

The RCMP said they would dig up Gerald Cotten if he was accused of a crime. The OSC concluded he ran a Ponzi scheme, but the RCMP didn't pursue it β€” concluding he's dead.

QuadrigaCX wasn't a crime & ~$250m in theft was just a bankruptcy. πŸ˜¬πŸ˜‚

#bitcoin
2/ I'm aware you can't charge someone with a crime after they die, but the RCMP said they would need to confirm death if there was a crime. They didn't, nor look at the situation closer.

FWIW I think he's dead but we also interviewed the former staff & know πŸ‡¨πŸ‡¦ missed a lot.
3/ Still here? Fine, I'll give you the best part.

April 2019: πŸ‡¨πŸ‡¦ dropped the RCMP's fin crime priority & all resources allocated to: National Security, organized crime, and cybercrime.

Dec 2019: ON's financial crimes unit notified 137 staffers they were being reassigned...
Read 10 tweets
May 11
TV in πŸ‡¨πŸ‡¦ is wild rn. 🀣

Don’t have enough cash to buy a house? Why not become a private lender & lend people money to buy a house. You can earn up to 20% interest. πŸ€·β€β™‚οΈ

I made an obvious edit to trim the segment to fit on Twitter, but I’ll link the whole vid under.

#VanRe #ToRe
2/ btw not knocking CityLine or the guest.

They’re just presenting what everyone is suggesting right now. It’s just a wild climate to see daytime TV suggest becoming an unregulated lender as a side hustle so you can one day pay for shelter.

btw, you’d appreciate this

@BenRabidoux @AFernandes78 @ronmortgageguy @REWoman
Read 4 tweets
May 9
FYI central banks like the Bank of Canada only have one job β€” controlling inflation.

They aren't supposed to care about your home's value or your investments.

If they failed at controlling inflation, they failed at 100% of their job.
"we got some things right...," but not inflation?

That's like a firefighter letting a building burn down because they were polishing the truck.

Or a doctor letting a patient die because they had to iron their scrubs.

Only in πŸ‡¨πŸ‡¦ would people criticizing bankers be the enemy.
Millennials and Gen Z: Occupy Wall Street.

πŸ‡¨πŸ‡¦: Attacking the men waging class warfare on the young and middle class should be considered a national security threat!
Read 4 tweets
May 6
I keep seeing Canadians using this chart to say inflation is a global thing, there are 21 countries ahead of πŸ‡¨πŸ‡¦!

Holy f*ck, is this the wrong takeaway.

… and not just because so many people are fine with a broken system if other countries are more broken.

<thread> πŸ§΅πŸ‘‡ Image
2/ First, most intelligent people would notice something missing β€” countries with most of the world’s population aren’t there.

Most of Asia is absent, save countries that are heavily influenced by Western policies.

China @ 1.5%. Indonesia @ 2.64%, lower than 2019.
3/ India’s inflation is 6.95%! It’s lower than it was in 2019.

That brings up an important point β€” inflation is relative. Different economies will have different β€œnormals” for inflation. Totally different currencies with different wages.

Absolute comparisons make no sense.
Read 9 tweets
May 5
FYI brutal takes on Loblaws profits being up "40%" so inflation is a hoax.

I hate monopolists like Weston but it's dangerous for the public to not understand inflation due to the politicization of the issue.

Quick thread. πŸ§΅πŸ‘‡
2/ First of all, 40% is big but not for the reason most of the public thinks.

The average person most likely *feels* like 40% is like making 40% on the total revenue. If they thought about it for a second, though, they would know that's not the case.
3/ So what does this 40% look like? Profits went from $313m to $437m, on sales of $12.26 billion (~3.56%), which sounds a lot less crazy, right?

It costs about $8 billion per quarter to run all of Loblaws companies, so $437 million isn't the cushion it seems. Back to revenue.
Read 10 tweets

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