Post #3502698
2026-07-01 01:59 UTC
Replies (2)
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@pinhman@humanwords.party 2026-07-01 05:22
Will the banker pm challenge Canada’s banking industry’s role in our housing cost crisis? Will limited profit & non-profit housing ever be given the advantage and guarantees that the for-profit housing industry has enjoyed for generations? “Canada’s political and media class has spent years chasing convenient villains to blame for the housing crisis, pointing the finger at foreign buyers, immigrants, supply shortages, zoning rules, or an overheated market. But these diversions obscure the real engine of the disaster: a banking system that has spent decades pumping cheap credit into housing with reckless abandon, inflating a bubble that ensures Canadians, not lenders, will be left holding the bag.. Canada’s “Big Six” banks—RBC, TD, BMO, Scotiabank, CIBC, and National Bank—are chiefly responsible for engineering this debt-fuelled bubble. Their lending practices are actively creating the high price of housing, and feeding a national cycle of extreme indebtedness.. they remain conspicuously absent from most political debates about housing reform A system built to enrich banks—not households” “When you’re making $60 billion a year, you can afford to invest in housing as a human right, not just as a profit centre” https://breachmedia.ca/canadas-big-banks-are-a-culprit-driving-housing-prices-out-of-control/
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@LaChasseuse@mastodon.scot 2026-07-01 05:34
@pinhman@humanwords.party Making money for doing no work (landlordism) is a bad heritage from the English class system. Canada should ditch the monarchy, and start teaching about the very real downsides of "Britishness" in schools. Rout that rubbish out of the nation.