Hi, this is Wayne again with a topic “Linus Solves the Housing Crisis”.
I had a I had a really frustrating conversation with like a boomer acquaintance of mine um, where basically uh this person is, is very a billion dollar. Oh oops, Yeah D, I misspoke anyways. This person is very sort of pro um residential real estate as an investment and um. You know what yeah you’re you’re going to you’re going to hear what might sound to you like political positions, but these are not really political if you, if you can take off the political hat for a little bit and and just kind of look at the facts, Um investment in residential real estate only makes sense if it always go up.
If it always go up, then that means cost of living always go up, which is bad for anyone who isn’t a land owner. The landowning class class is now grossly disproportionately older people with younger people being unable to get in because always go up, and no landlords are not providing a service. What they are doing, if they own more than one property, is holding property in hopes that it go up. Um, and I guess what’s frustrating for me – is looking at everyone’s brilliant plan. In Canada we have a a housing affordability crisis that is Maybe rivaled by Australia. Um, really, oh, it’s yeah! It’S awful down there yeah it’s really rough for all of the same reasons, starting at around the same time, around 30 to 40 years ago, um, just they they stopped investing in social housing. They started um, providing tax benefits for or tax loopholes, essentially uh for investments into residential property um.
They haven’t done enough to regul corporations, buying residential property and then that’s the worst part Ren evicting people and, like all that kind of stuff, some random individual, owning, like uh, their first property still and owning a second property and renting out their first. One doesn’t seem that bad to me compared to Giant corporations owning multiple entire apartment, buildings and city blocks and all this kind of stuff. It’S like whoa, okay, um, because well it’s and it’s about control right, um. Anyway. The point is that, like it’s been so frustrating for me, seeing the the regulatory attempts at fixing this problem when the answer is so obvious, you just need to tax the ever loving sh out of multiple property ownership, and it can be a sliding scale like you Need a place to live that should be super low if you have an investment property or vacation property, the reality of it is you’re doing pretty good yeah and it should go up a lot and by the time you’re looking at three or four just that should Be pretty much a straight line: the moon uh, because the moon – it’s just common sense – you know you don’t get to line up for the buffet again until everybody’s got a plate, because if there isn’t enough for everyone to have seconds, then everyone’s got to have firsts.
First, yeah and and everyone’s one being very affordable model would be fantastic. In my opinion, we also have an issue where we have we have. This is getting spicy, but I can I talk about the regulations. First, yes, have you seen some of the some of the proposed like bull crap like oh, how about how about sub, how about rent subsidies to people who can’t afford rent? That’S not going to help at all? I’M sorry! I’M sorry did you did you just propose? Taking Public Funding and giving it to land owners yeah, I I says pardon that’s brutal too, because that will probably just result in rent going up in price as well. Of course it will, because they know you have more money of be more competitive, because the higher the prices go, the more the more risk the the people who want to get in into land ownership are taking and the bigger their mortgages are, and the the bigger The disaster when the whole thing comes crumbling down like it’s this, it’s this gigantic house of cards that I’ve been waiting, my entire adult life for it to collapse, because it’s just ridiculous, oh just never does the new thing is our our Province.
This is amazing. Our provincial government just mandated that you cannot have single family zoning anymore yeah, so everything every single single family plot in the entire Province can now be a development opportunity which, on the face of it, sounds great for affordability, because all of a sudden, it means that Any property large enough could have a duplex a Triplex, a quadruplex I mean whatever right. I think it’s up to six, something like that. Don’T don’t quote me on that, but more than more than one, except for a couple small problems in the areas where the affordability is worst, the infrastructure is not set up. For that not even close, not even close, we don’t. We a don’t, have parking and B. Don’T have rapid transit, so I mean the roads are broken too.
That’S that that’s! Yes, yes, like everything, is um and then, and then number two is that hospitals that doesn’t actually help with the affordability of the places we have now, because it turns every single single family, zoned property into a development opportunity. And as soon as you have individuals bidding on a property against corporations who are going to develop it for profit, you have a problem. They are not going to.
I talked about this before when I talked about all the veterinary practices in the Lower Mainland. Getting bought up all the independent ones so that eventually these, I think, there’s one or two big companies that are buying them all. Eventually they control the market, and then they can just drive pricing up and the higher the pricing goes, the higher the rents go. It’S everyone wants.
Every landlord wants rent to cover the mortgage so to say anything else that somehow it will help affordability for there to be more landlords or something else is frankly asinine. I’M sorry uh. What were you going to say? We have we have. We were talking about regulation issues earlier in the show about how it takes way too long to get approved on things I was um. I was saing after the gym a while back talking to someone who works in the the the contractor industry. They sell Windows to companies that are building buildings, um, that’s their whole thing, and they were. They were talking about how there are projects that they’ve been that they have had fully planned out and like when you, when you already know the exact the exact size, shape and quantity of every single window. Your building’s pretty much planned so like he knows how far along the process is at that stage, they have to wait often an additional 3 or four years, sometimes before they can break ground, which means there’s also more time when they have to actually build the thing. Um that’s happening. We have this problem where it’s very difficult to build things, and you know what sometimes it should be, because you don’t want people just making terrible buildings cough cop pipes have burst in my building like four times since I’ve been there, and I’ve only been there for, Like three or four years um, but we have this issue where it’s taking forever to be able to build anything, and then we have, by a huge margin, absolute record levels of immigration.
So Canada’s population overall is going up a bunch yeah like crazy, very, very, very high, and the new housing is really slow. So we’re not matching that so don’t forget about interest rates. Everyone here across the board is having a really really really hard time getting into property ownership, it’s extremely difficult to rent and that’s getting worse, because the new housing versus population lines are not going together. It’S supply and demand and, like I’ve, got people talking in the chat about how this is such a political conversation.
It’S math isn’t political. If you think it’s political you’re, wrong, supply of housing is not going up as fast as amount of people is going up. It doesn’t matter what the source of amount of people is. This could be new births.
This could be immigration. This could be people teleporting here from Mars. It could be families who used to live together getting mad at each other wanting to live separately. It doesn’t matter people just growing up and moving away from home it I don’t care what the source of this number is. The new housing is not matching it um and that that’s just that’s very rough, because it it it’s supporting this bubble right. It’S not allowing this bubble to blow up, I uh as a as a property owner. I am rooting hard for a crash. Me too.
I want a big one yep, not because it’s not going to be painful, not because uh. I’M down hurt me like because needs to happen. It needed to happen a long time ago. It should have happened 10, 15 years ago.
The fact that we’ve – Let It Go for so long means it’s going to be more painful. So the reason I’m rooting for it is because it’s only going to get worse when it finally happens. Yeah anyway. Good luck, everybody sorry! This was not really the topic. The point is that uh accid, that hey China, don’t agree with everything that’s going on over there, but uh definitely super into the whole Banning gambling in video games and limiting people’s ability to just blow their life savings on on GAA games. It’S an interesting Trend. That’S been going on uh. Apparently, Japan is getting in on this too. The various countries around the world cranking down on Tech in general, as a as with their governmental bodies. So speaking of China, by the way, apparently this video on Billy Billy – I don’t know how to read um view – counts here um, but I think this is 1.6 million views. Oh wow. Oh this is the TV yeah yeah yeah, yeah yeah.
This is the unboxing of the gigantic TCL TV um, someone someone flagged this to me internally, that we uh. Oh no, is this: it uh yeah, it doesn’t translate numbers, though I don’t think oh yeah, oh one, point 8 million wow wow that is freaking crazy, yeah. So hey shout out: uh shout out the Billy Billy audience. We have a uh.
We have a translation team um that uh it’s the same team right, well, they’ve cycled through some members, but it’s yeah. It’S the same um, it’s the same team. Here we go cool, uh, Nixie Subs. Oh, look at that.
Look, the they have a. They have a recruitment URL right here, long-term recruitment of paid trans ni. There you go so yeah.
We we do. We we took someone who was a group that was pirating our videos and uploading them to Billy Billy and we were like okay look. You can’t do that, but we understand that.
Maybe people want to watch the videos over there. So how about this? Well, we we will pay you and you can upload them and then we’ll we’ll just do it that way. Um and it’s been fine. We haven’t made any money.
It’S mostly been just like a a service for the people who want to watch over there because, as far as I can tell, you can’t buy anything from LT store in China. I don’t probably not – I well man now now I’m kind of curious. What, if you shipped internally internally, what if you oh here here, we go sessions by location, uh, well, they’d be VPN. Would they have to to go to LTT store.com? I think so, really, wouldn’t you speaking of not approving of everything, China. Does I don’t I it’s been a long time since I’ve looked into how the firewall works? That’S pretty stupid, um any who um yeah, I don’t know it hasn’t shown up in the first 400 results, which I think is an indication that probably oh yeah. We had six visitors from China there.
It is six visitors from China. Today, Hong Kong – I don’t know, doesn’t say um yeah so and and we we have no way to get the money out of our billybilly account. Uh. Last time I checked with Ivon.
I think it was 4 ,000 sitting in the account there, so a very significant amount of money uh but hey. My honestly, one of my reasons for not being willing to travel to China was that the Canadian government told me that China arbitrarily detained the two Michaels. Now that I know that one of them, one of them, was a spy and the other one was kind of like drawn into it by the other. One is what they’re alleging right now it’s! This is all kind of being aired in public. Finally, uh now that I know that China was like justified in detaining them it’s like yeah, maybe I’ll go there and open a bank account. Then I’m money, nice yeah, oh man, then again they might be mad – that I smuggled that TV out like maybe I’m on a list, I’m probably on some kind of list. I mean I’m pretty sure they have lists of just about everybody.
Again we say Taiwan a lot not saying I approve Chinese highe Luke. No, no! I know that’s such a that’s such a stupid name. You know there’s more than one city in Taiwan yeah! It’S like it’s like what, if I’m from uh oh crap, you never been to thaan bro yeah yeah, it’s like if I’m from there, what I I you know, I’m at the Olympics, I’m representing you been to Haan yeah yeah like come on guys. There lot cool places in Taiwan, ridiculous um. What are we even talking about we’re supposed to explain merch messages? What even is, who knows we we made it through like two to I don’t know, but my social credit score is probably at an alltime low right now.
Yeah yeah, oh oh, I have the solution. Okay, okay, we can fix this. I can smooth things over with the Chinese government and I can fix the housing crisis. Everyone who doesn’t have a house in Vancouver can just move to a ghost city in China, uh geni.
Everyone wins: it’s genius amazing, SL s for anyone taking that seriously shake shake your head, someone probably SL s: yeah, okay, checkmate .