Housing Bubble II: The Quest To Build Enough Homes Where People Actually Need Them

[Nite]

Originally Posted by whatnext

LOL, Canada should be so lucky to have Japan's "major economic problems". the world's third largest economy with a shrinking population, not bad.

Where do you get the idea that things are going well in Japan?
Germany with 50 million less people will soon is most likely the 3rd largest economy right now



Oct 24, 2023

Germany to Pass Japan as 3rd-Largest Economy, Helped by Weak Yen
Yoshiaki Nohara, Bloomberg News


(Bloomberg) -- Germany’s economy is projected to dislodge Japan’s as the world’s third largest in 2023, helped by a slide in the yen against the dollar and the euro.

The International Monetary Fund’s latest projections estimate Germany’s nominal gross domestic product at $4.43 trillion this year, compared with $4.23 trillion for Japan. That would leave Germany lagging only the United States and China in terms of economic size.

https://www.bnnbloomberg.ca/germany-...-yen-1.1988549

Young Japanese are leaving the country at every higher and higher numbers because of job opportunities outside of Japan ad not being heavily taxed to support the aging population.

Better Off Abroad: Young People Leaving 'Cheap Japan'

Unlike other G7 countries, wages in Japan have been stagnant for more than twenty years. In addition, the country has lately seen a rapid decline in the value of the yen. "I can't earn enough however hard I work" ― a growing number of young people who feel that way are now giving up "cheap Japan" to work overseas. Some pick blueberries in Australia, making more than double the average starting salary in Japan. One Japanese woman who works at a care facility there is able to save up 3,700 US dollars a month to realize her future dream. Is Japan no longer an attractive place to work? We take a look at the latest trend.

https://www3.nhk.or.jp/nhkworld/en/t...30217/4002882/

30 years of GDP per capita growth
GDP Per Capita

1993
Canada: $20,210 USD
Japan: $36,430 USD
Germany: 25,600 USD

2023
Canada: $53,250 USD
Japan: $33,950 USD
Germany: $52,820 USD

https://www.imf.org/external/datamap...EO/JPN/CAN/DEU

[harls]

78% average increase in property values in Gatineau.

https://ici.radio-canada.ca/nouvelle...ation-gatineau

[Wigs]

Originally Posted by harls

78% average increase in property values in Gatineau.

https://ici.radio-canada.ca/nouvelle...ation-gatineau

Housing in Winnipeg or parts of Manitoba looking better by the year?

[whatnext]

Originally Posted by harls

78% average increase in property values in Gatineau.

https://ici.radio-canada.ca/nouvelle...ation-gatineau

How many tens of thousands as Trudeau added to the civil servants roll?

[whatnext]

Originally Posted by Nite

Where do you get the idea that things are going well in Japan?
Germany with 50 million less people will soon is most likely the 3rd largest economy right now

LOL, yes because being just the world's 4th largest economy is a truly terrible fate.

[Changing City]

Originally Posted by whatnext

LOL, yes because being just the world's 4th largest economy is a truly terrible fate.

There are a lot of Japanese - 124 million, (but fewer every year, with a median age of 50).

In terms of GDP per capita, the IMF says Japan's is $33,950, (30th in the world), while Canada is at $53,247, (17th in the world).

All of which is totally relevent to our housing bubble, obviously.

[MonkeyRonin]

Not really sure what the relevance of Japan's immigration system is anyway, when no one has advocated for copying it here nor is there any likelihood of that ever being taken as an acceptable policy alternative. Their near-zero immigration system is the polar opposite of Canada's near-unlimited one: two extremes of ideologically-driven policy at either end of the spectrum; both of which carrying major negative externalities.

Most of our peer nations take a much more middle-ground approach, with better results than either.

[Nite]

Originally Posted by whatnext

LOL, yes because being just the world's 4th largest economy is a truly terrible fate.

Japan is the poorest country in the G7 and it is getting worsts for them compared to their peers. 30 years ago they were the wealthiest in the G7.
their youths are leaving the country to pick fruits in Australia because the pay is higher
Even Italy is doing better than Japan

2023 G7 GDP per capita (USD)

USA: 80,410
Canada: 53,250
Germany: 52,820
UK: 48,910
France: 46,320
Italy: 37,150
Japan: 33,950

Japan also has the most debt to GDP despite keeping interest rates very low for 30 years to boost an economy that refuses to grow


https://postimg.cc/sv8CfPmB

With population decline set to accelerate and aging accelerating, the japanese economy is just going to keep getting poorer compared to it peers

[someone123]

Obviously the main country to compare Canada to is the USA. We did well compared to them at times but lately have been falling behind while housing has become catastrophically less affordable, and today our material standard of living is on average much lower.

[Nite]

Originally Posted by MonkeyRonin

Not really sure what the relevance of Japan's immigration system is anyway, when no one has advocated for copying it here nor is there any likelihood of that ever being taken as an acceptable policy alternative. Their near-zero immigration system is the polar opposite of Canada's near-unlimited one: two extremes of ideologically-driven policy at either end of the spectrum; both of which carrying major negative externalities.

Most of our peer nations take a much more middle-ground approach, with better results than either.

Nearly every western country has been increasing immigration to deal with the same problem as Canada ie labour shortages, the Anglosphere especially. Canada has a lower birth rate than most of it peers and the demand for labour has been greater as well.

[thebasketballgeek]

Originally Posted by Nite

Japan is the poorest country in the G7 and it is getting worsts for them compared to their peers. 30 years ago they were the wealthiest in the G7.
their youths are leaving the country to pick fruits in Australia because the pay is higher
Even Italy is doing better than Japan

2023 G7 GDP per capita (USD)

USA: 80,410
Canada: 53,250
Germany: 52,820
UK: 48,910
France: 46,320
Italy: 37,150
Japan: 33,950

Japan also has the most debt to GDP despite keeping interest rates very low for 30 years to boost an economy that refuses to grow


https://postimg.cc/sv8CfPmB

With population decline set to accelerate and aging accelerating, the japanese economy is just going to keep getting poorer compared to it peers

Remind me which country has the worlds highest life expectancy?

Or the world renowned High Speed Rail system paired with the worlds largest city?

All I know is Japan has cleaner, far more affordable cities with less crime than Canada and has the 2 greatest forms of media in the world known as Anime and Manga produced there. The fashion is better, the food has higher quality, the global corporations are of higher significance, it’s a shit ton more walkable, and better healthcare. This supposed terrible economy seems to be producing a lot more for the world than Canada.

[Nite]

Originally Posted by thebasketballgeek

Remind me which country has the worlds highest life expectancy?

Or the world renowned High Speed Rail system paired with the worlds largest city?

All I know is Japan has cleaner, far more affordable cities with less crime than Canada and has the 2 greatest forms of media in the world known as Anime and Manga produced there. The fashion is better, the food has higher quality, the global corporations are of higher significance, it’s a shit ton more walkable, and better healthcare. This supposed terrible economy seems to be producing a lot more for the world than Canada.

Canada would have the world greatest infrastructure as well if we expand the national debt to 6x it's current levels to match Japan, that would equal to 3 trillion in new spending (USD) we could even build some more houses as well with some of the $3 trillion. for 1/10th this amount we could build a tunnel to baffin island and connect all of Canada capitals with high speed train. The sad part about Japan is that it has accumulated this much debt into an economy that hasn't grown in 30 years. With a an accelerated shrinking and aging population, economic growth will become impossible pretty soon. Sure housing is cheap, but that's because it's a dying nation with a countryside that has emptied of it youths leaving town of just elderly people.

[casper]

Originally Posted by Nite

Canada would have the world greatest infrastructure as well if we expand the national debt to 6x it's current levels to match Japan, that would equal to 3 trillion in new spending (USD) we could even build some more houses as well with some of the $3 trillion. for 1/10th this amount we could build a tunnel to baffin island and connect all of Canada capitals with high speed train. The sad part about Japan is that it has accumulated this much debt into an economy that hasn't grown in 30 years. With a an accelerated shrinking and aging population, economic growth will become impossible pretty soon. Sure housing is cheap, but that's because it's a dying nation with a countryside that has emptied of it youths leaving town of just elderly people.

In addition to that Japan is a very economically closed society. It does things its owns way and introucedures artificial barriers to international goods. Over the last twenty years Canada has adopted a free trade mentality and most of our smaller domestic only manufactures have been forced to compete with the world or die off.

Japan gets somethings correct but not others. Sprawl and cheap housing is one of the things they get right. The economy overall not so much.

[whatnext]

Originally Posted by casper

In addition to that Japan is a very economically closed society. It does things its owns way and introucedures artificial barriers to international goods. Over the last twenty years Canada has adopted a free trade mentality and most of our smaller domestic only manufactures have been forced to compete with the world or die off.

Japan gets somethings correct but not others. Sprawl and cheap housing is one of the things they get right. The economy overall not so much.

And yet our GDP per capital is cratering and we don’t even have a decent slow-speed rail system yet alone a high-speed one.

But we do have well staffed fast food drive-thrus. So much winning.

[casper]

Originally Posted by whatnext

And yet our GDP per capital is cratering and we don’t even have a decent slow-speed rail system yet alone a high-speed one.

But we do have well staffed fast food drive-thrus. So much winning.

Yes, I guess if we have the density of Japan along the Windsor-Quebec City corridor we would be all set. But we don't.

[casper]

So BC is moving towards central platform to manage building permits. We will see this will slowly allow for better visibility and accountability for municipal governments. Hopefully reduce approval times.

https://news.gov.bc.ca/releases/2023HOUS0132-001568

[whatnext]

Originally Posted by casper

So BC is moving towards central platform to manage building permits. We will see this will slowly allow for better visibility and accountability for municipal governments. Hopefully reduce approval times.

https://news.gov.bc.ca/releases/2023HOUS0132-001568

What a shame BC’s NDP government doesn’t stick to solving the problems they’re responsible for like our horrendous healthcare wait times or the drug-strewn streets they’ve created with their decriminalization fiasco
instead of overreaching into municipal affairs.

[Doady]

If only we had a PM with the balls to stop all immigration, then Toronto could build a subway system on par with Tokyo's.

[casper]

Originally Posted by whatnext

What a shame BC’s NDP government doesn’t stick to solving the problems they’re responsible for like our horrendous healthcare wait times or the drug-strewn streets they’ve created with their decriminalization fiasco
instead of overreaching into municipal affairs.

The drug problem is hard to solve. No government has figured it out.

They are making major inroads on Healthcare. New SFU medical school. Getting more immigrant doctors and nurses. Help fill those vacancies. Polls show it is a bigger issue in Alberta than the rest of Canada.

What I think the provincial government should do and it is not is reactive BC Rail and start passenger rail service into the valley. Surrey to Chilliwack via Abbotsford. The tracks are there. BC Rail retained the legal rights to operate passenger rail service on the line and is still a crown corporation though mostly a shell company at this point. Still retain the agricultural land reserve will force density along the line. The private sector would start building. Then double down on social housing for those that the private sector can not support.

However they don't listen to me. So no new rail lines. The only thing that is coming close to connecting Vancouver to outlying areas is a new highspeed ferry service to Nanaimo operated by the private sector.

[Nite]

Originally Posted by casper

In addition to that Japan is a very economically closed society. It does things its owns way and introucedures artificial barriers to international goods. Over the last twenty years Canada has adopted a free trade mentality and most of our smaller domestic only manufactures have been forced to compete with the world or die off.

Japan gets somethings correct but not others. Sprawl and cheap housing is one of the things they get right. The economy overall not so much.

Exactly and Japanese workers are also some of the most unproductive workers in the developed world. they work longer hours on nonsense at most firms.
If Japan opened up it domestic market to international competition it would be a bloodbath of local firms closing as foreign firms would take over in no time.