Please don't forget to like, comment, and subscribe so I can pay for my 300ft $3600 a month apartment in Vancouver!

You elected him 3 times... Are you guys serious? You elected a drama teacher, yet didn't expect drama! Oh Canada!

American here. Thank you for making me feel better. I mean, the housing crisis is horrible here, but Canada is a bloodbath.

i remember when Canada used to be the most respected place in north America

I’m a ticketed plumber in Canada who makes over 100k a year and I can’t buy a home. Working hard doesn’t mean anything anymore…

You said at 12:38 that 7% of Canadians are leaving to the US each year, but the source you quoted clearly says ".7", i.e. 0.7%. If it was 7%, the population would be falling off a cliff. It's 1/10th as many people as you say.

Just as a minor correction, 7% of Canadians don't leave: but 0.7% do.

I live in Vancouver and work an unionized job at a corporation. My hours have been cut from 40 hours a week to 24 hours a week. My latest pay cheque after all the deductibles was $743 for two weeks of work. Many of the local employees have been replaced with people from India without PR or citizenships. I am applying for other jobs right now. Submitted like 100+ applications and only heard back from four.

I've lived in Canada, Metro Vancouver area, back in 2017...it was already a bloodbath, now I see it's even worse. I ran away and returned to Italy after 8 months, after I discovered I had to skip meals in order to survive, something I've never experienced here in my country as a former low income citizen. Never had a single regret.

The cost of a permit in Canada costs as much as a brand new completed home in Florida, brand new... The bureaucracy has fallen in love with itself.

I just read an article from Bloomberg stating that some Ukrainian immigrants have actually left 🇨🇦 Canada to go back to 🇺🇦 Ukraine last year (2023) simply because it was cheaper to live in Ukraine, a country actively still at war, than in Canada.

When I was a student in Canada, a small cup of double double only cost 0.57 dollar. This time I go back to Canada, it is 1.50 something. It is madness. Every retail store’s positioning is value. That is why I eventually decided to abandon my Canadian citizenship application.

You know, the mindset, that troubles in Canada only started with Trudeau is one of the key problems of Canada.

The huge problem is Canada is the lack of competition. You can open a shitty restaurant chain like cactus club in vancouver, or a shitty coffee chain like blenz and still be a multi million dollar corparation. Yet you pay insane prices to go to these places. For instance in major cities like Istanbul, London, new york etc yes, you pay crazy prices but you are also eating at the best of the best in the world. The level of mediocrity is insane in Canada that charge insane prices.

it is a nightmare. canadian here...left the country. No regrets

Man, I found living in Canada much cheaper than a few other places, and with higher literacy rates, less mass shootings, a better quality of life, and less violent crime than the states, Canada is a haven. But then again, I suppose if you compare it to Pennsylvania, it probably seems ridiculous.

i feel hopeless. as a kid, i always dreamed of having a family and a house. now, im stuck living with my parents trying to save every dollar. My gf and I are thinking about moving to the states but it just sucks because I use to love canada so much

Canadian here, moved to the US 12 years ago and will never return

Well, he fulfilled his promise, Canada changed! For much much worse, but changed 😢

As a young Canadian, it is beyond frustrating to live in Canada and I have no hope for living here in the future.

Correction: Vancouver, while facing extreme difficulties due to a lack of affordable high-density housing, is doing a LOT to try and fix this in comparison to other cities in the infrastructure sector. Just over the last couple years, we've had some pretty extreme zoning policy changes, we have a yearly rent increase cap (which backfires once tenants move out, but that's another story) and we're building new transit infrastructure which now, legally, requires only high-density housing build in the surrounding areas. The population growth here has wildly exceeded the amount of housing growth in the last few decades. Not to mention the insufficient wages, high cost of living and a broken healthcare system. Our people are struggling but if you have to live in a city right now, I'd choose the greater Vancouver area. Down the road, I see us improving the most infrastructure-wise out of any Canadian city, which will hopefully benefit social sectors as well.

As a Kiwi that has lived in canada for the last 18 months. I have found that all of this is true. New Zealand is reasonably expensive but canada is crazy, fruit and vege is outrageous. Phone bills, rent, used cars, all are far more expensive than home. Lucky they have good snow and beautiful views haha. 18 months was enough though, back to NZ

NOT moving to Canada was the best decision in my life!

Moved to SE Asia 5 years ago. $350 per month rent in a modern condo on the beach. Absolutely no comparison.

11:15 been curious about this part of the Video for quite sometime. The People I have majored with in college have done research about this, Implying that it has been a thing for ages. Could it be something other than lack of funding in the Private sector? Perhaps, the cost of funding is much higher within the region?

Canada hid its inflation in the housing market for a decade. The economy appeared to be growing, and real wages appeared to be staying in line with the consumer price index, but it was smoke and mirrors. If you removed real estate, GDP was stagnant. Wages were actually falling behind and people getting poorer and poorer without realising it. That’s finally become unsustainable, and inflation is showing up everywhere. And the wages are still stuck. The country is sitting on hugely valuable resources it could develop had it not put so many self-created political barriers in the way, and having indoctrinated their population about it along the way. Separately, The healthcare system is getting worse, consistently ranking 2nd last in the OECD in terms of real results delivered. The biggest problem is that the country’s economy is built on immigration to drive growth, rather than productivity, efficiency, or innovation. The more people you bring in, the more housing you need, but they’re at the point that they can’t keep up and people can hardly afford housing anyways. It’s a recipe for disaster. I left Canada by coincidence, having met someone from another country and moved there. I’m glad I left.

I remember when you could work full time at McDonald’s and be able to have a clean, modern at the time bachelors apartment and a reliable used car 😢😢

I live in the UK and its a similar situation here. Buying a property (especially in the South) is so hard unless you come from money or have a really good job. Also because people cant buy their own homes, landlords can charge obscene amounts for rent because they know people dont have any alternatives. Add that to the cost of living crisis and you have a lot of people feeling trapped and hopeless

This guy has done more research than the entire Canadian housing ministry !

The Trudeau government is scrambling now to address the housing crisis. In the next few weeks you'll see a myriad of announcements to prep for the election. Don't fall for it. Not saying the Conservatives are any better but I think we are due for some change in one way or another. Myself and most of my friends are in the top 1% of earners and we are nowhere near close to buying houses/apartments in Toronto and Vancouver. Our generation is truly in trouble.

Feels like it's the trend across the world now; too much population (demand) and low supply of housing, and lots of companies are buying up housing (homes, condos, etc.) just to take their employees' wages back in the form of rent. It's freaking insane.

Excellent video. Really liked the focus on the economics and business side of things in this level of depth. Subscribed

Canada is the most captured, least competitive country in the world

Born and raised Canadian and lived 22 years of my life in Canada. Left Canada in 2005 and till this date, zero regrets. I went for an academic internship in 2004 during my Bachelor's in Electrical Engineering to University of Texas Austin. A professor offered me a position in his research lab for master's, so it was more like studying in US free of cost and earning monthly stipend for doing research. I never considered this as permanent move but quality of research I did in US, the opportunities and salary I received I could never imagine that in Canada. I am still in touch with my university friends in Canada work at low wages on obsolete tech stuff, with no innovation at work. Many of them want to move to the US, but for 10+ years they worked on outdated stuff, so they cannot compete with the talent pool in US. Even in 2004, I remember healthcare being bad and I keep hearing stories about how worse it has become. In US, I am covered by a good health insurance, I had surgeries for myself and my kids, and we never had any issues. Honestly, I can no longer trust Canadian healthcare with insane wait times for my kids safety.

As someone who has lived in Vancouver all my life, I feel that my only chance of survival is to move to a different country. It's really sad.

It blows me away this channel only has just over 10K+ followers. This is a presentation I’d expect from one with several millions.

If nothing changes, I’m also leaving. Shitty thing is, the whole western world is turning out like this.

Canada is fine if you are a millionaire... For the rest of us, it's soul crushing. Born and lived here my whole life, but now planning to leave. If you think it's expensive now, just wait, it's going to get worse. That $2000/mth for a 1 bedroom will be $4000 in a few years.

As someone who lives near vancouver, this is something that I am truely worried about. I don't own a home yet, but where I live, it's more like 500k a year. It really scares me. Thank you for making this video.

We were paying $950 for a decent sized 2 bedroom apartment on the 3rd floor near downtown Mississauga.....that was in 2012 after i left.... those days are long gone.

If you thought only Canada got this problem , same problems here in Australia as well - housing affordability , rental crisis etc. If Canadian grocery prices are expensive, Australian ones are even more. Here also 2 super markets (Coles & Woolworths) duopoly and holding all market share and not much competition. Aldi is only a small relief.

As an Australian. It's as bad here. Trying to buy a house is almost impossible without help. Also, the rental crisis in our big cities is absolutely terrible.

There are two happiest days in life: the day you arrive in Canada and the day you leave

I live in Canada and I have to say, the poverty here is really unfortunate, meanwhile the weather is nasty and you always have to worry about being safe outside.

I was born and raised in Ontario, and I HATE this country’s government, the ungodly taxes, and the shitty healthcare, Canada had been trashed and has no future. Feels like I’m living in a third world country. I am leaving and I’m never coming back to this godless dystopian wasteland.

I live in a 2nd world country. And I just got neighbours that moved back here from Canada. My highschool friend also moved back from Canada. Just a few years ago, something like that was unimaginable. What the hell, Canada?

Canada may not be going through the best times, but this video is oddly biased and contains some misinformation. 1) Right from the start, the first 15 seconds aren't 100% clear or transparent. While people in Canada do vote in federal elections, they are not voting directly for the Prime Minister. They are voting for Members of Parliament (MPs) from various political parties. The leader of the party that can command the confidence of the majority of MPs in the House of Commons becomes the Prime Minister. So it's not like people vote for one man, and that man then is solely responsible for everything good or bad. 2) Then you point at Sean Fraser with the "this guy" caption. This guy only recently became a housing minister, less than a year ago, you know. There's a whole government, and ministers change; it's not like some minister was "under-investing" for years. That's not how it works. And this new guy actually already negotiated a $4 billion investment for 750 thousand homes. I am not judging if that's enough or not, but it doesn't look like "nothing has been done" either. 3) Not everyone wants to buy a home... in Austin, TX. That's why the price difference. Similarly, there are lots of places in Canada where houses are way more affordable than in Austin. No one forces anybody to live in Vancouver or Toronto! House prices are influenced by supply and demand dynamics mainly. Take any other major big city in the world - same situation or worse. 4) Immigration is required to cover labor shortages (not only in Vancouver) and maintain the growth of economics (and create more jobs subsequently). Reducing immigration levels might alleviate housing pressure only marginally and it's unlikely to solve the housing crisis. Also, many people don't realize that without immigration, economic growth could stagnate, leading to fewer jobs and increased poverty, despite potentially lower housing prices. And who would build more houses if there's no demand? 5) As for the carbon tax - people get rebates. Hundreds of dollars as direct payment from the government. On a regular basis. So no need to complain about the carbon tax; that thing is quite balanced now. 6) Now about those banking fees compared to the UK and Australia. I can't say anything about the UK, but in Australia, banks seem to be way more greedy. In Canada, you can get 2-5% cashback on groceries, gas, etc. I'm talking unlimited cashback. And what about the banking fees? Typically a $16 CAD/month fee which is usually COMPLETELY WAIVED if you keep money in their savings account. Now go try to find something similar in Australia. You'd be surprised. Cashback is usually tiny and limited there.

It’s such a shame, the dream of a comfortable average life is fading. There’s exactly the same situation here in NZ. It’s tough out there!

Tried really hard for 10 months to find a good job. Finally leaving Canada next month. So excited! Can't wait!

As a born and bred Canadian, I am severely disappointed with the state of our nation at the moment... And for those who think "we" elected Justin again, you're wrong. There's only one city with power in this country, and that is Toronto. Toronto sweeps the stakes every time.

Heating with OIL is not "dirty" if the furnace is maintained properly. People ignore filter changes and/or don't want to pay for maintenance. In most rural areas, OIL is the only option.

It’s so depressing. I don’t think I can make it there as immigrant. And I’m from Hong Kong. It’s like choosing which hell to live in.

So thankful to the United States for giving me the opportunity to leave Canada and pursue a better life here. I moved in my mid-20s and couldn't be happier with my decision. It always surprises me how few young Canadians consider this but just put up with their worsening living conditions in Canada. I hope a new government can come in a turn things around for my friends and family still living there.

As an international student going to Vancouver for university back in 2013, it was already bad then. I was astounded how many old buildings in Downtown Vancouver were being demolished in lieu of new land for apartment towers that promised "affordable housing" for the neighbourhood's old displaced residents, students or low income families. And yet these projects would end up being being rented out at a premium. Lots of shiny glass-fronted buildings for the few who could afford a place in them. Eventually I was lucky to find a basement studio south of the city center. After months of struggling to juggle my university expenses, services and rent (and the rain!) I couldn't take it anymore and noped out back to my country to finish my studies. Stupidly enough too, my parents and I got a student loan from my country's government by mortgaging our house to the bank (horrible idea, I regret it every day) to go to study to Canada in the first place. I didn't use it all up, but long story short I'm now paying that loan back monthly. Still: even having to pay a monthly mortgage to recover the family home, it's still WAY cheaper than the total cost of living per month in Vancouver. Hell, it's even cheaper that just the rent by itself - and I'm talking about 2013 prices for a basement studio in the suburbs. Funny how life's plans change, in this case for the better (or at least making it not as bad as it would've been otherwise). My country might be a mess of it's own too, but I'm constantly thankful I'm not in BC anymore - even more so now that it's gotten worse. The city and Canada in general are beautiful, it's just that the "living" there isn't really living at all.

I'm glad you discussed this because we don't normally hear it it on major news outlets however I've been getting a lot of infos from quite a number of canadians who are unsatisfied with the direction the country is headed.

Would love links to the sources used in the video in the description. Great video, explains the situation we are facing right now.

I own a mid sized home in northern BC, share a vehicle with my spouse, work 70+ hours per week (when there is work) in the energy sector, have a second job when I’m home, my spouse works part time. Last year we earned $130,000 combined, took one 4 day vacation and were living paycheque to paycheque. We don’t have drug or shopping addictions, our basic bills cost $7000+ per month, and we’re one of the lucky ones.

I moved to London, UK. Got a job in finance. Bought a house in Zone 2. Pricey but still affordable. But i can't now move back to Canada because the house to salary ratio is ridiculous.

This is exactly what companies and the government want. Can’t fight back and demand better conditions if you’re already financially on life support. Same thing is happening in the UK.

Here is the crux as I feel about it : Canada saw US making serious headways in growth due to its immigration policy. However, US scrutnizes like crazy whom they let in. They are very meticulous in drawing guidelines and reviewing them as to who comes in. And have been so for quite a while ! Contrast this to Canada who has been letting just about anybody in, and add to that allow them to launder money. Many of the heavy corrupt players from Russia, China and around the world saw Canada (UK and others) as a perfect haven. Bring in the worst of the worst into your shores, accept all the blood money they got to invest in housing and other sectors,, and you are handcrafting a 'crisis to be' !

Add the shitty weather and their is literally no reason to live there.

I stayed in canada fo 12 years then moved out 14 years ago in 2010, came back yesterday and saw the food prices in Montreal. Didnt regret it.

I loved the video! I was just curious how you created the animations for the charts? It looks great!

I thought this was produced by CNBC or some other legacy media company , Hats off to your production quality. You are definitely going to blow up.

Born and raised in Canada, and I'm seriously considering moving south of the border. I'm not getting any younger and don't have 10-15 years to wait for things to turn around. I bet lots of others who have this option are thinking the same thing.

13:15 The same price in Hong Kong you could only buy half size of this , and shared all facilities like elevator , swimming pool ,post box ...and with no parking

i'm from hong kong, about to come to canada (vancouver) this coming fall for a master's degree in city planning at ubc. i haven't watched the video yet, but reading these comments has me feeling seriously anxious and worried now...

High Immigration has driven housing demand off the charts while allowing wages to stagnate.

I came to Canada as an immigrant. I am very educated person and with multiple advanced degrees. I cannot make a decent living there due to discrimination at work and the gradual increase cost of living. I moved out of Canada to live in the States where I am making so much money and opportunities are plentiful. I wish for every Canadian who could move to the states, just do it.

At the end of the day. It comes down to the individual. Learn new skills, use those skills to sell for money. Working 9-5, 40-60 hours a week only can bring so much. Can't fix the system? Move into a market that benefits you. That's why there's 1 million immigrants in Canada. Most Canadian's are wealthy compared to the immigrants in their own country. There's a say: those who choose to be stagnate will result in failure. Those who choose to involved will continue to succeed. The world changing. Learn to adapt or will be left behind. Humans are greedy. Learn the game or be left out and suffer.

2:02. Simple foreign investment. Less supply= higher demand, = higher price. Foreigner build up homes like investment. Than there's less for the citizens for them to live in. It's smart of those who can make fast money.

There's definitely a money threshold in Canada you NEED to make to .... have fun and live well. If you're a lifetime renter, or entry level worker.... it doesn't make sense. My family is established from previous happy decades. But even for us there is stagnation and living on savings (many family members moved back to EU, and I'm thinking of it as I'm fluent in many languages there). Imagine people starting new RIGHT NOW.... makes me sad that most Canadians will never had a backyard. Godspeed everyone.

2015 was my first federal election that I could vote in. I voted against Trudeau and I told my parents after he won that it was going to be a disaster. I was right.

I found the video very informative as an outsider, could you provide me your sources for further research?

About half a million people immigrated to Canada in 2023. Mostly Ukrainians, Haitians, Indians, Chinese, Afghanistan, and Nigerians. I guess *some one* wants to live in Canada. PS The average home price in Saskatchewan is currently $324,400... but you have to live in Saskatchewan.

Give me a break! You all elected him 3 times. Don't blame Trudeau, blame yourselves.

So now is the time for America to avenge the war of 1812 and liberate the Canadians from their government

I would never imagine this about Canada, looked like a "perfect" country, with a untouchable image. I'm from Brazil, we have many problems here but for example, for many decades we had only few banks, there were fees for basic services, people had to go to the bank and wait in lines for hours. From 2010 to nowadays many digital banks started their Business and they didn't charge fees the others did, people started using digital banks, the services got much better, we can do everything in a bank without paying any tax or extra fee. It forced the other traditional banks to improve and offer better conditions. Competition really makes difference. About food too, there are many many options of different suppliers, companies, so there's always a more affordable way to keep going. It looks like the problem of Canada is pretty much that lack of competition in many areas. I guess the government should be more committed to change stuff, looks like they're really doing nothing, that's sad! I hope things improve and canadians can live better 🙏

Is Wilson-Raybould's picture up at :25 on purpose? Very poignant.

How could the government do this to their own citizens. We could have secured such a good life for the average Canadian. It’s not only inaction it’s action that directly hurts the most vulnerable in our society, which is becoming the majority

Canada cares more about pronouns than affordability

20 year old Canadian and moved out since 18, born poor and no support from any family Cost of living is insanely high rn and I couldn’t imagine having/ providing for kids when my current wage at full time barely covers me. I either make it in my career and pay off my student loans or I move to Australia and work in a mine no in between

I have a great life here. Its gotten harder but life is still pretty easy here for me for now. I had a harder time in the 2008 crisis when I lost my house,job and my family fell apart leaving me to live in a car for a time. Having gone through that I know I can survive anything and be happy so this current crisis doesn't faze me the way it would If I hadn't already gone through much worse earlier in my life. Capitalist systems are built to crash cyclicaly every 8-10 years so if you are struggling now learn from this, adjust your lifestyle and prepare yourself financially for it to happen again in a decade or so and ride the trough out with a bigger financial cushion untill the next crest. Never take on ANY debt that isnt related to making money or paying for a place to live!

Came here about 8 years ago from eastern Europe. Love it in Canada! It's not perfect, but again no country is. We enjoy the easy-going people, the feeling of freedom, and access to good jobs (doing much better economically than back in the old country) and the multi-cultural atmosphere . Many thanks to kind, open-minded Canadians who have made us feel at home.

You've elegantly summarized why we moved to the US several years ago. We were not willing to take on the level of debt required to live anywhere near our family in the GTA. It's just been crazy to watch--home prices rising faster than people could possibly save, price to income ratios stretched to absurd levels, with homes in the GTA often going for hundreds of thousands over asking in high pressure bidding wars--a recipe for terrible decision making. Since leaving, we make far more, our money goes further in general, and there's a bright future for our family. The US has its own significant problems, but it's a great option for Canadians with in-demand skills and high income potential. Amusingly, Canadians may find they can live closer to their families back home by living in border towns than if they were to try to buy in Canada. Not sure how our leadership missed this crisis brewing in plain sight for over a decade, but right now, I don't see any meaningful progress toward fixing the crisis.

I just want you guys to know that I live in a 3rd world country in Southeast Asia and make about $500 per month. I pay $100 a month for a 100 SQM room (I personally know the owners of the property), I don't pay carbon taxes, I spends less than $100 on food per month.

I'm 20 and I'm doing fine in Toronto. I rent and buy food, clothes and have fun. But starting a family and having even a single child in Canada is nearly impossible. With our salaries, inflation and insane house prices young families will never be able to buy a house. Having a child in a rental sounds so miserable, living at the mercy of the landlord not knowing when they decide to kick you out. After paying for rent, bills, food and other basic stuff you have no money to invest in your child's future :( I don't want to life a pathetic life having 3-4 jobs for my kid to become a cashier with no education. Kids are very expensive here if you want them to have a decent childhood... Starting a family in Canada sounds very bad to me...

Any Canadian with money, skills, education or business ideas would be better off leaving because Canada punishes success. People without these things act like everyone should stay in Canada and suffer instead of pursuing better opportunities.

I've lived in Canada my whole life and I've never been hurting so bad. Example... I got my auto renewal and it more than doubled! $300/month for a Honda CRV!! I've got air tags on it, a club on the steering wheel and it's parked in my garage as I work from home. Unbelievable!!

Weird to pose these 3 issues as internally caused problems when the issues themselves are global and the underlying problems are creating the same issues in most "western" countries around the world.

What that girl said can't be true! "Her landlord raised rent by 7000 dollars a month"?? How is that possible?

The shot with Bill Morneau and Jody Wilson-Raybould at the beginning was a nice touch 😂

The government needs to start building and building big. Invest in quality sustainable housing. The same applies to the Uk, Oz and Nz.

I remember visiting Canada and trying to get a cell phone data plan, it was imposible as a tourist without any Canadian documents. I ended up paying like $70 usd for 4GB of data with Roger which was insane. Now I just cross US/Canada border and bring my Starlink with me. The things I love about Canada is the dog friendly National Parks and the landscapes. Prices have gotten out of hand 🤚

I've honestly never really thought of it but as a Canadian that moved to the UK (Scotland specifically) it is crazy to have it broken down this way. My partner (Scottish) and I talked about the pros and cons in living in either country and we came to the conclusion is was better to live in the UK. TBF she is an engineer and in the future it may be better to live in Canada but right now between the salary and time off (20 day (CAD) vs her current 40 days off plus flexible working days (equals out to more like 44)) it's better to live in Scotland. I was also able to find a much better high paying job here in the UK (Edinburgh no less) than anywhere in Canada and have continued to work here in the UK cheaper. I hope to move back to Canada one day but don;' know if it will ever be possible.

One news says everyone is leaving Canada and no one wants to live here anymore. Another news says so many people want to come here desperately, especially international students, who would do anything to stay and make a living in this country. Same with USA, so many Americans are leaving the country too and yet the border is flooded with people more than ever.

Almost the same here in Brazil, banks and ISP's are giant cartels, the services that are provided are terrible and the prices are way too expensive

While most of the housing focus was on Vancouver, it's the same story in all of Canada major cities-- Toronto, Montreal, and even Ottawa

I'm so fucking sad everything in this video is true and for my own sake I have to leave the city I love to ever have a shot at a stable career and home. Toronto was where I grew up and my family set down all its roots but it's a nightmare now. Over half of my young 20 to 30 year old friends only managed to move out of their parent's via some combination of couch surfing or cramming themselves into small spaces with other friends It's not only NIMBYs, the zoning regulations are ridiculously restrictive and make developers waste land on giant mazes of single family homes that will inevitably be bought up to cram 40 students into each.

Great overview. One thing that this video hasn’t touched on is the absurd cost of shipping in Canada. Huge barrier and significant impact on product price.