Is Canada collapsing?

It’s pretty clear to see that Canada’s economy is far less resilient and dynamic than the US. At this point with real estate being a drag on the remainder of the economy, I do not have high hopes.

It’s a dire situation. Most of my Canadians friends have moved to the US or are looking to do so.

The gap in housing costs versus income is insane.

Good example, just hired a CPA for ~$100k CAD. That would be the same price in the US, but in USD and in a Tier 2 or Tier 3 city, where living costs are half of what they are in Canada.

I don't really get how the average person makes the math work...because it really does not when you think it through.

I really don’t think people know how much PE money has pushed this situation to be even worse. Large amounts of PE money has gone into private universities - not the McGill’s of the world I’m talking Yorkville University being owned by Birch Hill kind of shit.

These private universities have set up physical recruitment centres in India AND work with external recruitment firms to get people virtually on-boarded and paying before their visas have cleared. The cash conversion is absurd and they spit out cash flow.

Where it gets even more crazy is all these people come to Canada under a student visa, and then many just don’t show up to class. If they ever get caught for illegally staying, they claim refugee status.

I’m not saying this is all of the immigration cases, but between this and the latest StatCan gaff on miscounting a MILLION people, it’s no wonder we are in the spot we are.

Alright I take everyone’s points, so then what’s the solution?

What are some steps that Canada can actually take to fix the issues here?

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Yah yah yah…Guess what the rest of the world has issues too. Canada is going to thrive like mad for the next 10 years. 
Vancouver is still one of the nicest places to live in the world for anyone who has money and will continue to be.

People like to compare Toronto vs MCOL city in the USA guess what it has not been that for years. Toronto has many different regions for a long time now, living in North York is not way cheaper than living downtown. It is no different than LA living. You tell ma where a CPA making $100k usd in LA lives.

But wait LA has beaches and hot weather? But toronto is still way safer than any tier1 usa city, way way way better schools (public). Healthcare it sucks arse 12 hour waits blah blah blah…Wait has anyone ever had a friend rushed to an ICU here? Has anyone seen their friend’s baby get born with a possible difficult delivery? We have unreal ICU doctors/specialists across hospitals in Canada many who study at top USA schools and come back.

Real estate, housing again the problems described is no different than tier 1 usa cities or Sydney, Australia type places. Sorry when people move to the USA they are not planning to move to Cleveland let me know how housing in Austin/Bay Area.

Majority of top canadian companies pay dividends vs make high stock gains. Cause its a socialist leaning country always has been and always will be. No different than all of the top banks in France running the show etc…Just buy the top5 Canadian banks and 3 telecoms in your RRSP like the rest of us.

Again super bullish Canada. Especially if have to choose between biden/vivek/DT.

This is canada now. Hundreds qued up at job fairs.  Definitely need a PhD to immigrate!  

https://imgur.io/kZvPMVC

Interesting documentary on YouTube published recently about wokeness in a Canada. Recommend people check it out.

Canada is real?!

A lot of good pts raised above but I’ll confirm/add a few

1) businesses being oligopoly/monopoly is very true and small business gets eaten alive by big businesses in a snap

2) a lot of comments about our stagnating economy and politics — mostly due to WAY WAY WAY too much regulation compared to the US/UK

3) “Canadian experience” is required to get any job here no matter where you went to school or how good you are. A resident doctor at my family doc literally had a medical degree from Oxford university and the CMA wouldn’t accept his edu he had to redo both UG and med school told me he did a Mickey Mouse psych degree and went to a Canadian med school had to redo residency everything dude was even a pilot for the Royal British Airforce super cool guy and this is one of many cases I’ve heard

4) way too many ppl work in our govt largely due to Trudeau — 1 in 4 cdns earn from taxpayer $$ which is the same as communist Venezuela

5) there are no real rights we have, freedom of speech doesn’t actually exist here ppl get fired for BS reasons

6) Racism is very real and happens here all the time but they won’t acknowledge it and going back to 5) nothing you can do about it

7) pros are beautiful nature, ppl are more relaxed when working, you get more for your taxes (though it’s still way more than the US if you’re middle class/above), healthcare while it’s a lot slower they’re focused on getting results right the first time so quality of outcomes is better than the US IMO re emergency wait times the ON GOV under Ford is making a lot of improvements and you can see the average hospital wait times across the province, more digitization across the board for gov services here than the US which is nice, their grade school curriculum is stronger than ours but no consequences for teachers not teaching the entire curriculum

8) Cdns aren’t actually nice they’re smug they don’t acc like us and make fun of us in their media all the time, too many cdns have never been anywhere outside of North America and it shows there’s a real sense of fake diversity and a lot more racist/unfair incidences than you’d hear it just gets swept under the rug and victims are often victimized further brings to my next point of rampant corruption and the laziest dumbest people on planet earth work in their public sector literally a disgrace IMO way too many ppl got their jobs due to seniority no real merit and productivity is the worst I’ve seen of any developed country tbh and they don’t care because they’re unionized and act like they can’t get fired normal people losing their jobs and students being kicked out off university campuses for totally normal things with no real process and cdn law is utter bs as it says victims have to go through each public sector place which the public sector drags out as long as possible to bleed victims and their lawyers dry of having enough $$ to fund cases have heard of public sector employees literally deleting evidence AFTER they think they’re going to get sued and their ps employees even admitted this in writing source: my wife is a lawyer and I was horrified when some of the evidence in her work become public what’s worse is they just don’t care literally the closest thing to a communist state I’ve seen anywhere best advice if you’re American is stay away

8) pro I forgot to mention is though Canada has less companies in my experience online ordering via cdn companies is packaged way better and they have more attention to detail / care about their reputation when dealing with customers but less freebies, discounts and things are more expensive than us but it’s what you make of it for me it works out fine but you like shopping there’s no comparison we’re just better

And last pro is when travelling if others see you with a cdn passport they’re nicer than if you have an American one idk why

Cons - bad economy low wages really trashy attitude lazy slow service in the public sector very stuck up ppl too who are running the country in the ground this is a personal one but I find Canadian woman to be lazier, not as concerned about their appearance, drink too much and not behave properly in an office environment more often than our women but they will spew about their rights hella fast and a lot of companies here are allowing mediocre women to rise a lot of aggressive and shouting women too ya it’s not a good picture the few kind women i met who weren’t looking for a free ride were usually immigrant women or BRITISH/IRISH/CANADIAN or from wealthy countries like HKG/SIN.

9) quality of food in the grocery store is better than ours on average but the price is more and there’s 13% tax

10) housing car insurance is way overpriced and the quality is much worse than ours

Think I covered everything tbh but lmk if there’s anything else you want covered

Good luck! And ya my verdict is the country is in decline but the polls show the conservatives (their republicans but way more centre than right) are leading so hopefully it’s the last years of Trudeau

Forgot to say this in my long answer above but imho it boils down to this if you earn >10 million life on our side is better, if the reverse, theirs is usually better.

Overall, for us the sky’s the limit but if you fall you fall hard. No matter how much you make you’ll always have some level of stress. For them, I wouldn’t focus on $$ as much because even if they earn significantly less they get what we would have to pay for (e.g. schools, essential healthcare etc.) so they’re on avg. much less stressed than us but with that comes their belief it’s their right to get handouts and they don’t care about quality as much because it’s “free.” They’re socialist but take steps not to show it.

Canada is fine lol. Of the major G7 economies, Canada is arguably doing the 2nd best after us in the US.

There are issues all around the world. There are homeless people literally taking a shit on the street right beside my office Midtown. NYC subways are a mess. People are leaving the city to go to Miami or elsewhere in the Sunbelt and reducing the tax base. NYC is not collapsing though. Neither are cities like SF or Chicago which have their own issues.

The UK is a mess. Brexit did them no favors. Inflation is still out of control. Bank of England is the furthest from a pause of all major central banks around the world. They need the type of immigration Canada has in order to help curb service wage inflation, though that ship has sailed. But hey, at least those service jobs are going to Brits now (with everyone else paying for it).

France literally has mass riots in the streets because the government is broke and wants to raise the retirement age. The unrest there is levels above anywhere in North America.

Italy youth unemployment has been +20% for almost 20 years now. Most of the south of Italy is basically an emerging market country. Great place to vacation though if you stick to the fancy spots.

Japan has a humongous aging population/demographic problem as well as one of the largest huge government debt loads in the world. They also would've benefitted from Canada's immigration policies, but it's a bit too late for them.

Germany is the only G7 country that has their shit together, but they will need to figure something out with their natural gas supply. Even then, Canada basically has higher GDP growth, lower inflation, and lower unemployment than Germany, and without potentially existential threats on the horizon.

With all that said, doesn't mean any of these major countries are on the verge of collapse lol. We just live in a complex world where many people are facing a lot of issues. There are countries around the world that face MUCH more serious threats than Canada does.

All I will say is if you're a young, educated, ambitious person: Get out while you can or plan to get out. Tier 2 cities in america offer more than anything Toronto or certainly vancouver will ever offer. Tier 1 is in another league if you're talented and ambitious altogether. Securing PR is tough but you may need to marry an american. The pace of Canadian decline is nothing short of astonishing.