🇨🇦 housing bubble didn’t just price out a generation—it rigged the system to keep them out forever.

The correction isn’t a crisis.

It’s justice.

🧵 1️⃣ It’s basic math: for homes to become affordable again, prices must fall.

Waiting for wages to catch up could take decades—if ever.

Harold the Mortgage Closer preyed on the vulnerable. Now he’s lost his licence, fined $280K, and under fire for charging 76% interest.

Here’s the wild story unraveling in Ontario 🧵 1️⃣ A 3-year @TorontoStar investigation exposed Harold Gerstel — aka “Harold the Mortgage Closer.”

Last week, Ontario’s financial regulator (FSRA) revoked his licence and fined him $280,000.

🚨 Toronto's condo market just hit its 1996 moment

30% of Toronto preconstruction condo buyers are defaulting, and developers are suing them for millions.

Let's dig in 🧵 1️⃣ In 2021, Nizar Tajdin was told he could flip a preconstruction condo in Forest Hill for massive profit.
He put down $85,500 on an $855K unit he knew he couldn’t qualify a mortgage for. Why? The agent said he’d find another buyer. He never did.

Preconstruction buyers in Ontario are drowning—stuck with homes they can't afford, can't sell, and might lose everything on.

This is big...let's roll 🧵 1️⃣ In 2020-2022, buyers rushed into preconstruction homes, expecting to flip them for easy profits. Now, the market has collapsed, and they're trapped.

🚨 Toronto’s Pre-Con Nightmare 🚨

Buyer walks away from $439K deposit after condo plunges $600K in value

But wait until you see what RBC & the developer did to keep the market afloat.

🧵 1/ In 2020, Joe Baradziej bought a pre-construction condo in Leaside for $2.2M. In 2024, when it was time to close, the appraisal came in at just $1.6M—a $600K drop.

🇨🇦 HOUSING CRISIS IS KILLING PRODUCTIVITY

Workers can’t afford to chase better jobs, and the economy is paying the price.

Let's dive in 🧵 1/ 🇨🇦 is in a productivity emergency and high home prices are making it worse.

Workers aren’t moving to better jobs. Businesses can’t attract talent. The entire economy is slowing down.

Let’s break it down with cold, hard data.

Toronto landlords are now offering incentives like free rent and other perks to attract tenants.

This map shows 1,852 apartments with "move-in specials" currently available in Toronto.

This was almost unheard of before.

Let's dive into some examples 🧵 2/ 450 Front St W

Studios and 3-bed units are renting for $2,380–$6,419, with 1 month free rent offered.

These incentives hint at landlords struggling to fill units even in prime downtown locations.

What does this say about demand in Toronto's housing market?

🚨 Toronto and Hamilton's Condo Market is in Freefall

Lowest sales in 3️⃣0️⃣ years, investors fleeing, and a record-breaking oversupply looming.

🧵 1/ Sales Collapse:

Only 4,590 new condo sales in 2024, marking a 64% drop from 2023 and a 78% decline from the 10-year average.

Toronto man slashes $135K off condo price but still can’t sell

"My retirement nest egg is gone."

The grim reality of Toronto's condo market 🧵 1/ In 2021, Jeff Steinman bought his downtown Toronto condo for $652,000, envisioning it as his retirement nest egg. Now, he's listing it for $555,000.

A$135,000 price drop and still has no offers.

"Greed Turned Into Catastrophe"

Toronto investor with 135 pre-con units now drowning in ‘catastrophic losses’ as the market implodes.

Investors who gambled on greed are now drowning in losses they can’t escape from.

H/T @shanedingman

Let's rolllll🧵 1/ A speculator with 135 units thought they struck gold flipping pre-con condos. Instead, they’re sitting on “catastrophic losses”, with prices down 30% in some cases.

🇨🇦 immigration crackdown leaves thousands of 🇮🇳 students in limbo, fearing deportation despite holding valid visas.

Let's see why 🇨🇦 Immigration Crackdown Hits 🇮🇳 Students Hard 🧵 1️⃣ Thousands of 🇮🇳 students in 🇨🇦 are in panic mode after receiving unexpected requests from IRCC to resubmit key documents like study permits, visas, and proof of attendance — even if their visas are valid until 2026.

Bank of Canada’s drastic rate cuts signal desperation

The Bank of Canada is expected to deliver its 5th consecutive rate cut, slashing 50 bps, bringing the policy rate to 3.25%.

But here’s why this move might lead to disaster for the 🇨🇦 economy.

🧵 2/ Currency Collapse?

The 🇨🇦 dollar is already at a 4-year low of 70.6 cents against the 🇺🇸 dollar. Another oversized cut could accelerate the loonie's freefall, making imports more expensive and hitting 🇨🇦 wallets hard.

WestJet's LMIA Posting Raises Serious Questions Amidst 🇨🇦 Pilot Shortage.

Time to dig in.

Thread🧵 1/ WestJet recently posted a job for "Captain - Air Transport" in Calgary, offering $112/hour. But here’s the kicker—they’ve applied for a LMIA to hire foreign pilots for this role.

Why is WestJet turning to foreign labour when there’s a clear demand for pilots in 🇨🇦?

"62,000 🇨🇦 hacked, CRA quietly paid millions in bogus refunds—agency admits to vastly underreporting breaches."

H/T @zjhasan

🧵 Here’s what you need to know 👇🏽 1/ 62,000 🇨🇦 CRA accounts hacked, with $190M in taxpayer dollars funneled to scammers between 2020 and 2024.

"Tax Court slams Airbnb hosts with massive HST bills on home sales, raising concerns about 🇨🇦 aggressive tax grab."

🧵 Thread: How Airbnb Hosts Are Getting Hit with Massive HST Bills on Home Sales 1️⃣ Tax Bomb Alert: The Tax Court of Canada ruled homeowners selling properties consistently rented on Airbnb owe 13% HST on the sale price.

"Inside 🇨🇦 Diploma Mill"

Students Cheat, Instructors Can't Fail, Education Loses All Meaning

Let's look at the OP's AMA responses in detail.

<thread>🧵 1/ Introduction

A tech instructor reveals how a diploma mill in 🇨🇦 is passing students who don’t deserve to graduate.

“80% of my students cheated, but I can’t fail them without department approval."

"🇨🇦 Broken Promise"

Thousands of international students face forced exit as immigration policies shift.

Time to dive in.

<thread>🧵 1/ 🇨🇦 immigration policies are forcing tens of thousands of international students with post-graduation work permits (PGWPs) to return to their home countries.

An estimated 70k - 130k PGWP holders are at risk of deportation in 2024 and 2025 due to policy changes.

"Punjab's Shattered 🇨🇦 Dream"

Visa shops run empty as aspirations wilt amid tightening migration policies.

Let's dig into why, based on this 🇮🇳 digital news organization.

<thread>🧵 1/ Punjab’s booming IELTS coaching and visa consultant industry is collapsing.

Dilbagh Singh, who once had 30 students in his IELTS coaching center, saw enrollments drop to zero this year, forcing him to shut down.

"🇨🇦 universities brace for financial collapse as international student numbers nosedive by 45%, threatening the future of higher education."

This one is worth a look.

<thread>🧵 1/ 45% drop in international student enrolment expected this year;
far more severe than Ottawa's planned 35% cut in study permit applications.

Universities are feeling the pinch.📉

When your friend’s quiet evening last night turns into a crime drama scene… 💥🚔

📍Brampton. ON 🇨🇦

Here’s what went down just a block from their house in Brampton.

<story thread>🧵 1/ My friend:
"Dude, you won’t believe what just happened near my house! 😱

I was chilling when I heard what I thought were firecrackers.

Turns out, it was gunshots!! Like, right on Edmonton St & Hallstone."

"Neighbourhood on Edge"

Late-Night Pseudo Pizza Delivery Rings Alarm Bells for Potential Car Thefts in Brampton

<story thread>🧵👇🏽 2) Per Text:
So last night at around 212 am, a
car stopped in front of our house. A
man got out and walked up to our
front door. My cameras alerted me
and I confronted the man through
our bedroom window. He said he
was from pizza pizza, but he wasn't
carrying any pizza with him.