Has the Housing Crisis Hit You Yet?
It's coming fast
1.) Inflation continues to raise prices and ravage millions of lives. In the UK, thanks to decades of corporatist rule, Truflation is 11.49%—leading to a gigantic drop in living standards. Millions are choosing between heating and eating. If you don’t include the tax haven City of London, Britain is now poorer than every state in America including Mississippi.
But it doesn’t have to be this way. In fact, there’s a rapid and righteous way to eliminate all inflation. But you’ll never learn it in school:
Universities Aren’t Teaching Economists How to Eradicate Inflation
It’s far more profitable to keep them in the dark.
2.) Surviving Tomorrow is now hosting another recurring weekly column called Last Week in Collapse, which brings together some of the most important, timely, useful, depressing, ironic, amazing, or otherwise must-see moments in Collapse.
3.) We continue to host our new This Week in Money series to teach people the history (and therefore future) of economics:
American Capitalism Is Brutal. That’s Because It’s Based on Plantation Slavery
As many of you know, I used to be a real estate agent and was exposed to homelessness as a young teen, so housing really matters to me. We’re currently working on a documentary on the house crisis—hint: the permanent solution is the ban for-profit land-lording—but I wanted to share a few brief thoughts with you today:
Canada is in massive trouble. The average Canadian house price in June 2023 was C$709,218… the sixth highest in the world. The global average is C$221k. USA C$564k. Europe C$308k. South America C$142k.
This should tell us a lot about Canada's future. Over 25 years, at current ~7% interest rates, this means you pay for your house twice- once as principal, once as interest.
That’s C$1,418,436 in pre-tax earnings just to stay sheltered. Using the standard DTI ratio of 36%, you need to earn C$3,940,100 over the next 25 years to keep a roof over your head.
Four million dollars worth of work to live indoors.
If you hate the idea of surrendering your life just to stay alive, blame the banksters and land-lorders who commercialized human shelter.
And don’t think this isn’t coming for you and your children. Did we learn nothing from playing Monopoly as kids? Land-lorders always win in the end.
This economic reality is smashing into the working class as we speak. Take a look at this heartbreaking Tiktok video of a thirty-something, working full-time, who can’t afford shelter.
Parasitic investors are destroying civilization. And there’s a 99% chance you’re part of the problem if you have a 401k/RRSP or pension plan.
Luckily, you can extricate yourself from this wicked system of oppression right now:
Sell your second properties
Stop using Airbnb
Liquidate your real estate stocks
Sell your bank bonds
Bank with a credit union or co-operative
Stop voting for corporatists
Help others escape the rent trap and buy owner-occupied homes
Convince, compel, and cajole everyone you know to do the same (you can start by forwarding this email to friends and family)
Has the affordability crisis affected you or people you know yet? Hit reply and let me know.