Quote:
Originally Posted by Alfisti
What's a start?
Toronto and Montreal see monumental amounts of immigration, no one wants to talk about it because racist but these people need to live somewhere. There has also been a concerted push to build up, not out, which makes sense but means detached houses are at a premium.
Best decision i ever made was buying our house less than 10 miles from Toronto centre with a 65x125 lot. It's not acres but right now it seems like it given the density in Toronto.
CERB ($2k month for those without income since March) has kept things afloat, it is due to end soon and be replaced by something far less charitable soon so the acid test will come then. I am trying to hire at minimum wage $15.40 an hr) and i cannot get anyone to do it, they just take CERB.
There have also been rules put in place re no evictions etc that will end soon and that will see another test, i am not sold this can keep going as well as some of the optimists here, i know a lot are entry level but SO MANY people out of work, it has to materialise at some point, the lack of spending will SURELY see a knock on effect.
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Yeah, we see things the same way...has to be an effect. And yes, if you were hiring at minimum wage, say 40 hours a week, approx 4 weeks in a month, they'd only be making $465 per month more than CERB is paying them to do nothing...easy choice for them.
But what they aren't seeing is that when businesses then go under, there will be no spot for them when CERB ends. Not that all will, in fact, I expect greater than most will survive...but there has to be some. I'm guessing as I said between 20-35% of businesses will fail, and mostly small businesses of that. There has to be a ripple effect of those employees not earning money, those businesses not purchasing, and those owners not earning money.
Now in theory, these businesses will be replaced by others with capital if there is profit to be made, but it won't be as quick as I think it will need to be to not feel any effects.