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Adam McNamara
@adammcnamara
Angel investor in Health and Climate founders. Founded: , . Worked: VP Product Love: 
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TL;DR Canadians upset that they can’t get speculative upside of real estate, without unloading all downside onto developers or government. twitter.com/BenRabidoux/st…
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Crime: Australian Federal Police smashes alleged $10 billion Chinese money-laundering operation #bcpoli smh.com.au/national/nsw/p
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“The present location of Calgary owes something to Holt’s imaginative abruptness. Holt couldn't change the path of the railroad, so he moved Calgary. He hitched a team of oxen to the Calgary post office and dragged the shack closer to the tracks.” 😂💪🏻
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“Canada in 1928 had money in circulation totaling $300M. Holt in the same year was shepherding assets worth nearly $3B, including banks, ore, hotels, streetcar systems, railroads, forests, flour mills, shipyards, theatres, life-insurance firms and world-spanning utilities.”
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“At the edge of the depression, he was about to become head of the world s largest corporation — Hydro Electric Securities Limited, a utilities holding combine. He was well along in his plans to merge all of Canada s primary steel producers into one giant monopoly.”
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“Holt's life was threatened so often that Montreal papers had his obituary set and waiting in their composing rooms. He marched through downtown Montreal, enclosed in a square formed by four guards with cocked rifles.”
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Dude went from assistant engineer at Toronto Water Works to “President of the Royal Bank of Canada, Montreal Light, Heat & Power, and a director of some 250 companies worldwide”
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Does anyone know of a biography of Herbert Holt, the richest Canadian who ever lived?
History has forgotten about this guy, but his story is wild.
did a profile on him in 1958 but the link is broken.
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“In the short run, the market is a voting machine but in the long run, it is a weighing machine.” ― Benjamin Graham
History will remember you well dude, don’t worry.
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The right course of action is clear. Overrule local politicians to put the new growth in dense housing in cities, above all Toronto.
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Rainfall floods. Flooded basements after a rainfall. Roofs damaged by hailstorms or tornadoes. What used to be extreme weather is now more frequent because of climate change.
But Canada's building codes haven't kept up with the new weather reality.
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Instagram but your bank account balance is shared every time you post.
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Now write about the US funds doing punitive recaps of Canadian startups, completely wiping out small Canadian investors☺️
You won't have to look hard.
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Turns out the key to living to 100+ is just "have mutant genes"?
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IF ONLY there was a way to bring more people to the country to pay taxes and use the infrastructure...
This is a racism and nationalism problem, not birth rate problem.
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"Now Or Never": Japan PM Warns Of Dire Consequences Over Plummeting Birth Rate zerohedge.com/political/now-
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And it seems like the people most to blame are our NIMBY parents (including mine) and the people they elected, not our usual scapegoats like investors, immigrants, or corporations.
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While absolutely needed, these changes are going to take a decade or more to create enough supply to match demand.
Until then, Ontario's will be stuck spending $6 of every $10 dollars on putting a roof over their heads.
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After decades of delay, (cringe) is actually addressing:
- zoning
- development charges
- density limits
- making land available
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The only thing that will fix house prices is building 3,500,000 extra homes by 2030.
Not:
- home buyer grants
- restricting investors
Even supply-side policies, like the vacant homes tax, are a drop in the bucket.
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Cities slow development or block it entirely through:
- Approval delays (10-34 months in Ontario, 24 in the GTA)
- Restrictive Zoning (low density, single family only, etc)
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Today, the average age of a journeyperson (carpenter, plumber, electrician, etc) is 57.
Many will be retiring when we need them most.
How is tradesperson not the #1 career choice for able-bodied young people in Ontario and BC?
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The two big roadblocks are:
1. Skills shortages, and
2. Government red tape
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Ontario alone needs 1,850,000 more homes (28%) to bring housing costs from 60% to 37% of income.
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To restore affordability, we need to build 3.5 million homes by 2030 (beyond existing estimates!)
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"Restoring affordability levels in these provinces means cutting housing costs by between a 25-40%"
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In 2021, we spend:
- 59% in Ontario
- 60% in BC
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CMHC considers an "affordable" home to cost (as a % of disposable income):
- 40% in Ontario
- 45% in BC
This was the level of affordability in 2003/04.
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"Demand for housing grew with higher incomes and population growth, and long-term declines in interest rates."
"Supply growth was weak to respond to this demand growth in some of Canada’s large urban areas."
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The affordability crisis is happening because MORE people competing for NOT ENOUGH homes IN CITIES.
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Housing Shortages in Canada: Solving the Affordability Crisis from the is a must-read.
TLDR:
- Ontario and BC spend 60% of income on housing (up from 30-40% in 2003/04)
- It's 100% a supply issue
- It's 100% the government's fault
Read on
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This article was good and seems to put the blame squarely on housing stock / population worsening.
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"A ninja living in a castle, made of gold and stone, carved into a mountain, in the style of Octonauts"
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"A castle made of ice and gold that is 340 feet tall, has 16 towers, and is guarded by a goat."
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Introducing my five year old to
"Dad let's make 'a miner holding a giant muffin they found underground.'"
"That's an excellent use of this superpower. Let's go."
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What is the best evidence-based paper on this phenomenon in Canada, NZ, and AUS happening simultaneously almost identically?
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