Boycott the Canadian housing market!! especially in the GTA and Vancouver

Boycott the Canadian housing market!! especially in the GTA and Vancouver

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Andrew Clark started this petition to Mayor's Office, City of Toronto (Mayor of Toronto) and

I'm starting this petition because I and many other people in Canadian cities (especially in the GTA Vancouver) are frustrated with the ridiculous home prices.

Over the past 4 years home prices in the GTA and Vancouver have doubled into bubble territory for the following reasons: the BOC kept the interest rates extremely low for a decade, greedy Bankers/developers and investors (mostly speculators), Toronto Real Estate Board manipulation, and our governments allowing rich foreigners to buy houses in our country, contributing to pricing out hardworking local citizens and taxpayers.

Toronto is the least affordable city in Canada and one of the least affordable cities in North America. UBS puts Toronto’s housing market as the number one housing bubble in the entire world! In a recent poll approximately 59 per cent of renters say they are seriously considering leaving the GTA due to the high cost of owning a home. Our governments are not taking measures to seriously address all aspects of this serious issue, so we the people will have to do something about it. A boycott is both a way to voice our frustration and to make housing affordable again.

Vancouver is the least affordable city in North America according to recent report, Vancouver residents would need nearly 88 per cent of their household income to buy a home (according to a new study, link below ), while Toronto residents would need more than 74 per cent of their income to cover the cost, the study said. 

Mortgage debt is a huge burden on so many Canadians. This is made worse when they are underwater in a declining market, rentals are considered a suitable alternative to owning by the government. I think this is wrong. Canadians everywhere should have the chance to own a home

Housing shouldn't be a commodity. It shouldn't be monetized. It shouldn't be a way for a few to profit from the many, housing should be a right (you can't live without a shelter over your head in Canada)

It's time for the people to take control! If you live in any Canadian city and can't afford to buy a house or can but don't want to get into too much debt then boycott buying houses until it corrects to a reasonable level. If all or a big portion of potential homebuyers boycott the housing market for even as little as 3 months home prices could drop as much as 20%. The longer the boycott the bigger the discount. If you don't absolutely have to buy a house right now sign this petition and boycott the housing market until we get at least a 20 to 30% discount. 

This will remove all the speculators/Foreign buyers from the market, they are here to make money, they will leave if they are not making money

Enough is enough!

Please don't forget to share

Below some of the articles that highlights the problem we are facing in Canadian housing market:

Housing affordability at 'crisis level' in Canada's most expensive market, say economists, Toronto is the world's ninth least affordable housing market in the world https://www.cbc.ca/news/business/housing-affordability-prices-1.4731713

Coalition urges Ottawa to table bill to declare housing a human right https://www.thespec.com/news-story/8818792-coalition-urges-ottawa-to-table-bill-to-declare-housing-a-human-right/

Toronto ranked 4th least affordable housing market in North America
http://dailyhive.com/toronto/toronto-housing-market-affordability-north-america-2018

Toronto Has The Most Expensive Rental Market In Canada http://torontostoreys.com/2018/09/toronto-most-expensive-rent-canada/

HOUSING AFFORDABILITY WORSENS FOR 12 STRAIGHT QUARTERS: NATIONAL BANK http://www.advisor.ca/news/industry-news/housing-affordability-worsens-for-12-straight-quarters-national-bank-263651

How Unaffordable is the Metro Vancouver Housing Market? [Report]https://www.zoocasa.com/blog/metro-vancouver-housing-affordability/

Despite a strong economy, debt-related stress is on the rise in Canadahttps://www.theglobeandmail.com/investing/personal-finance/household-finances/article-despite-a-strong-economy-debt-related-stress-is-on-the-rise-in-canada/

Toronto failing on affordable housing, Board of Trade says
https://www.theglobeandmail.com/canada/toronto/article-toronto-failing-on-affordable-housing-board-of-trade-says/

Majority of renters 'seriously' considering leaving GTA due to high cost of housing: poll https://www.cp24.com/news/majority-of-renters-seriously-considering-leaving-gta-due-to-high-cost-of-housing-poll-1.4069158

Canada's Tradition Of Homeownership Is At Risk https://www.huffingtonpost.ca/2018/09/08/canadas-tradition-of-homeownership-is-at-risk_a_23520973/?utm_hp_ref=ca-real-estate

Toronto Real Estate: 1 In 4 Homes For Sale Are Sitting Empty https://www.huffingtonpost.ca/2018/08/31/empty-homes-toronto-real-estate_a_23513652/?utm_hp_ref=ca-real-estate

UBS Global Real Estate Bubble Index
The UBS Global Real Estate Bubble Index is designed to track the risk of housing bubbles in global financial centers. Toronto tops our list in 2017. https://www.ubs.com/global/en/wealth-management/chief-investment-office/our-research/life-goals/2017/global-real-estate-bubble-index-2017.html

Join the movement "Toronto Housing Market Crash" Facebook group page https://www.facebook.com/groups/213639685923730/ 

B.C. renters set to face biggest rent increase since 2004 https://www.cbc.ca/news/canada/british-columbia/british-columbia-rent-increase-2019-1.4815785

How speculators inflated the Toronto housing bubble
https://www.macleans.ca/economy/realestateeconomy/how-speculators-inflated-the-toronto-housing-bubble/

Canadian Debt Clock http://www.debtclock.ca/

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