Canada's main industry is the Import of HUMANS
We are in the human warehousing business and this is what really drives our economy
When everyone knows that we already have too many people in the country and that we are already short on housing for the people we already have, most of us are wondering…
“Where the fuck are all of these people going to live?”
Some of us are wondering….
“Even if we get the permits to built more homes even faster then before, who the fuck is actually going to build these homes?”
“Is it possible to have more than 252 cranes in the GTA skies?”
All valid questions that need to be answered in detail. I will try my best to answer in as much detail as I am currently capable in the order that the questions were posed above.
Mississauga.
Robots.
Yes.
The truth is, we better figure this all out soon, because on top of the already ludacris amount of humans the Federal Government is throwing at municipalities, they have just recently decided it best to raise those targets an additional 20%
Whether you like it or not, we are in the business of warehousing humans.
We need to build more houses for the humans to live in. Whether they can afford to buy or rent, they need a place to live. The more humans we bring in the more homes we will need to house them, simple. The cycle continues in perpetuity. As long as we have a higher amount of humans to warehouse than the space to fit them, we will always be in business. We may have a rough patch here and there as sentiment in the market shifts because of stupid changes made to fiscal and monetary policies, but overall, we are trending upwards.
I’m no genius as I’m sure you know, but I can’t help but think that all of these people will put even more pressure on the housing markets inventories. Sellers of resale Homes and new Homes have all collectively decided that now is not the right time to sell. Inventory levels are very low, and seem to be heading lower.
If you follow me on Twitter, yesterday you would have seen a few posts about a new “partial broker” open house for a Pre-construction Condo Development at 53 Sheppard Avenue West. A hop skip and a jump from Yonge and Sheppard. They had lineups down the street.
The sales office was bustling. It was like the stock market trading floor in the 80’s. It was a resounding success. Every realtor in Ontario seemed to be there. Many brought their clients with them to try to “jump the line” to submit a worksheet. Lots of worksheets were submitted. The idea apparently was not unique. The videos I posted were from Saturday of this past weekend. My sources tell me that Sunday was even busier.
This was a resounding success for the developers.
This was a scary moment for me.
A couple of weeks ago when Tiffyboy only raised rates 50bps instead of the expected 75bps I thought that he was sending the signal some of us were hoping for.
Pivot time.
But it was too early for this signal. The malls were still too busy. People were still paying $65 for a filet mignon at The Keg and the Leafs and Raptor are selling out every game. The money in the city is flowing everywhere except in the Real Estate Market.
I warned the masses on Twitter not to start the Next bull run. Not yet. It was too early. If things take off like they probably will between now and the next BoC meeting on December 7th, we are likely going to see another fat, disguising outsized rate hike.
Hopefully my gut is wrong on this one. I have been known to be wrong before. The problem is….
I’ve been known to be right too.
Please do me a favor and help me grow. Please share The Frankfort Report with at least 1 friend you know will enjoy this page. Thanks very much for reading. I really appreciate it!
Thee sooner the union falls apart the better
That thumbnail needs to be browned by like 7 shades to be accurate 🤣