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Eddie_George

Analysis: Canadians Losing Faith In Economic "miracle"

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Canada's recovery from a mild 2008-09 recession was quick and job-filled, and the country added nearly 900,000 jobs to take the jobless rate to 7.2 percent from 8.7 percent at the depths of the downturn.

No bank needed a government bailout, the housing market did not collapse and Finance Minister Jim Flaherty repeatedly boasted about how Canada was outperforming its partners in the Group of Seven rich industrialized economies.

But recent growth has consistently fallen short of expectations and a very rough patch late last year turned disappointment into dread. Economists had been betting on a quicker U.S. recovery to boost Canadian exports, as well as a pickup in business spending.

The slowdown could spell trouble for the Conservative government of Prime Minister Stephen Harper, which is showing signs of mid-term stress and losing ground in opinion polls to the third largest party, the Liberals.

Full article here

Our economic miracle is still going though (and without the huge quantity of natural resources)!

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Most of my friends and associates back in Canada, where I lived for more than 20 years, are up to their eyeballs in debt.

EDIT: Their parents are seemingly ok, house paid off and getting ready for pensions, but the kids are not at all in good shape.

Same as Britain I think, except for much colder winters.

Edited by cashinmattress

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Same as Britain I think, except for much colder winters.

Ha, not this winter! I've been amazed by how often it's been warmer here in Toronto than back in North Yorkshire where my parents live.

Agreed on the debt point, it's very similar here in the big cities albeit the debt tends to be on proportionally larger places than the UK equivalents.

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Ha, not this winter! I've been amazed by how often it's been warmer here in Toronto than back in North Yorkshire where my parents live.

Agreed on the debt point, it's very similar here in the big cities albeit the debt tends to be on proportionally larger places than the UK equivalents.

House and yard size are kind of irrelevant to debt load.. but when considering how property tax is paid out in the GTA perhaps it makes a difference. If folk in the UK had to fork out Toronto tax rates, work through the complex zoning legislation for BTL's Zone I/II's, plus deal with the likes of Ontario's rent controls, it would kill it very quickly in Blighty. (amateur land-lording)

Ahh Toronto. A massive pain in the ass for time wasting and cash flow on everything, in the 10 years I worked there.

Memories...

- financial cost of commuting on the moronic 400 series highways

- red light 4 way junctions...sitting idle for minutes with no traffic

- the absolute need for a reliable motor and going through cars... clutches...tyres...brakes...

- beer store AND liquor store with sh1t hours...like fookin Sweden!

- smog

- car emission testing

- shit public transport

- hellish winters

- hellishly hot summers

- way too many immigrants

- stupid aggressive pan-handlers

- way too many culture-less, boring, bland housing developments aka suburbs

- too much violent gun crime

- Caribana and the crimewave it brings

- everywhere is hours from nowhere

- Stephen Harper?

Above are my main motivations for leaving actually.

Canada is fine for some. I've done the Toronto and Halifax life, plus a bit in St Johns and Montreal. Never again.

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House and yard size are kind of irrelevant to debt load.. but when considering how property tax is paid out in the GTA perhaps it makes a difference. If folk in the UK had to fork out Toronto tax rates, work through the complex zoning legislation for BTL's Zone I/II's, plus deal with the likes of Ontario's rent controls, it would kill it very quickly in Blighty. (amateur land-lording)

I pay about the same in property tax here as I used to pay in council tax in the UK, only for a bigger place. There are no real rent controls in Toronto of the sort you mean. The landlord and tenant board sets prices according to the market when a tenant makes a complaint. The market is set by new rentals, the prices for which are not controlled. Rental yields hear are about the same as they are in the UK. What is definitely better is that you can't be thrown out of your rental place unless the landlord can prove they need it to live in themselves and they can't take a damage deposit either.1

Ahh Toronto. A massive pain in the ass for time wasting and cash flow on everything, in the 10 years I worked there.

Memories...

- financial cost of commuting on the moronic 400 series highways

Why on earth did you do that?

- beer store AND liquor store with sh1t hours...like fookin Sweden!

The hours are fine now, agreed the stores are a bit grubby. You're out of date on Sweden though, they privatised they state alcohol monopoly ages ago.

- way too many immigrants

What, like you? Or do you mean black and brown people?

Canada is fine for some. I've done the Toronto and Halifax life, plus a bit in St Johns and Montreal. Never again.

Good, more space for me.

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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