Cost of living in North America's 4th largest city

First of all, many people especially Americans would be surprised to learn that Toronto, Canada is the 4th largest city in North America. It is in population and size, similar to Chicago. We also share some of the same problems plus we have some of our own.

The ability buy a home or to rent has grown out of reach for most Canadians wanting to live in the city of Toronto. With the average home now selling for $1.2 million, this places it out of reach of the first time home buyers, who help keep our economy going. Lucky for those who decide to go into debt on such a purchase, interest rates remain at a historic low. But should they start to rise, many new home owners would be forced into a sell position, as they could not afford the mortgage payment on top of everything else. (I have discussed hydro rates in previous blogs).

In the east end of the city where homes where built in the late 1950's at an asking price of $12,000, now sell for $700,000. These are humble bungalows with approximately 1100 sq. feet of space. Where else other then New York city would such properties bring such prices. And if your considering anything in the downtown core, well for a century home plan on spending 1-2 million dollars.

The real sad part of this is many of the homes which have been purchased sit empty. Not even an attempt to rent them out for income, which would help the rental market so much. Having said that, renters are seeing their monthly rents increase as much as 100% with little warning. And it is pay up or move out. There is no rent control on properties built after 1991, so the sky is the limit in this small supply rental property market. Again though, many condo units and homes sit empty as foreign investors and local speculators wait on the prices to continue to rise so they can flip for an easy profit.

Local and Provincial governments meet as I write this, trying to find solutions to reduce the heat of the housing market, reduce the prices and prevent or reduce the empty units which exist in the city of Toronto. Their answers are typical of government. Tax and new taxes. Tax on foreign investors, tax on properties which remain vacant and I am sure they are thinking of a few others.

I admit I don't have the answer, but I just know pricing people out of being able to live in Toronto is not a good thing for anybody.

Kathleen Wynne and the electrical nightmare

So the Premier of Ontario in here great wisdom, signed power contracts paying energy firms some 80 cents per Kilowatt when it only costs them 3 cents a Kilowatt to make. She then in an even crazier move, signed this deals for 25 years. (recently extended them to 30 years now)

Who in the private sector would keep their job for making this kind of deal? I know I would be fired the next day if my boss saw a negotiation of this kind performed by me. I imagine the same would happen to you too!

So in 2018 will you have the intelligence to vote no to Wynne and her Liberals? 3 years ago you didn't and you even gave her a majority government. I still can't believe Ontario did that given that Wynne was part of a very corrupt cabinet within the McGuinty Liberal Government. Has the people of Ontario learnt their lesson? I hope so. Because we cannot afford 4 more years of this. In fact, the Liberal have now been in power for 14 years in Ontario, and look where we are at. People have to decide between food or electricity. Shame!

Well just a shot rant today instead of a full blog. Stay tuned!

Trudeau must stand up to Trump

This flag of ours represents so many things. But the most important is it's open invitation to those who wish to come here to seek a better life.

Last year we successfully resettled some 25,000 Refugees from the war torn country of Syria. We brought all these desperate people in and have resettled them into our great nation. Many have shown thanks by findings ways to give back to their local communities, showing they understand the true meaning of being Canadian.

South of us stands the United States of America. Where the statue of Liberty now weeps for the poor, the unsafe and those who are persecuted in their home countries. She cries as the new US President Donald Trump has just passed an executive order banning Muslims and many others from countries where there is currently civil strife.

Canada has had a long lasting great relationship with the US, and we hope that can continue, but Prime Minister Trudeau cannot change our Canadian morals just to get a new deal in NAFTA. He must stand up to the new President, (when Trump finally decides he wants to meet his number 1 trading partner) and Trudeau must make it clear we will not stand for such abuse of human rights and freedoms. Remember Trump wants to bring back torture as a way of gathering information. He is going down the road of Russia and China in this regard. But given his love affair for Putin should we be surprised.

The worst part is there is more to come from this new radical regime south of our boarder. We must stand vigilant in our protection of the poor and the persecuted, and express this in no uncertain terms to the now most dangerous man in the world President Trump.

Carbon Pricing part two

Well it has become a reality now as of January 1st. The new carbon pricing (tax) is now in effect and as I warned prices have gone up around the various provinces.

The immediate effect has been seen on the price of gasoline, which went up 5 cents a litre overnight. Even though if you work out the percentage it should only be 4.2 cents a litre, the big oil companies have rounded it up to 5 cents and are voicing the blame on the government.

Interestingly the last time fuel prices were this high, oil was trading at 80 dollars a barrel. Meanwhile it is stuck at 51 dollars a barrel. The oil companies snuck in a price increase just days before the new tax took effect and they are hoping we don't notice. Well we did and it is as shameful as the new carbon tax imposed by the government in the name of Global warming.

Well in my last article on Carbon tax, I told you how great it would be if the money actually went towards green projects, such as Solar energy or more Public Transit. But we know the government will put it into general revenue where it will spend it as it sees fit. Lately that has been for projects that make big donor companies rich with new government contracts. New transit remains stagnate and no new green energy programs have been started.

Of course this new Carbon tax is not just on car gasoline, it also affects home heating. Natural gas to heat our homes will increase about 5% on the monthly bill. The worse thing about this is that the tax then gets taxed by federal and provincial taxes. That's right, tax on your tax.

Also look as the price of goods will soon go up as manufactures are being hit with the new tax as well. And you know they are not going to absorb the new cost. It will get passed onto the consumer just like everything else, yet wages stay low.

So where ever you may be from, beware when your government starts talking Carbon Pricing in the name of Global Warning. It is nothing but a tax grab my friends.