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How Housing Prices are Excluding Black Canadians

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Housing affordability has become a pressing concern in Canada, particularly as the dream of homeownership continues to elude the working class. While the Canadian elite benefits from real estate investments, many are left disenfranchised by soaring housing prices. This article delves into the intricacies of the housing market, shedding light on how it adversely affects the working class and, more specifically, Black Canadians.

Before dissecting the housing crisis, it’s crucial to understand the significance of homeownership in facilitating generational wealth and success. Data from the Canadian Real Estate Association (CREA) reveals a direct correlation between the increasing value of principal residences and the rise in median family net worth. Homes, considered stable assets, appreciate over time, contributing significantly to homeowners’ overall wealth.

Projects like those undertaken by Habitat for Humanity emphasize not only the financial benefits but also the positive impact on mental well-being and educational outcomes for families. Homeownership provides a conducive environment for children to succeed in school, adopt healthy learning habits, and secure a stable future.

In Canada, homeownership has long been considered a pillar of generational success. However, this pillar is rapidly moving out of reach for many Canadians. Ontario, a province at the forefront of the housing crisis, established the Housing Affordability Task Force in response to escalating concerns.

The task force’s 2022 report paints a grim picture, revealing a “housing crisis” in Ontario. The average home price surged to an alarming $923,000 by the end of 2021, marking a staggering 180 per cent increase from a decade ago when homes cost $329,000. This surge makes it challenging for first-time homebuyers to afford a down payment.

Even with a median after-tax income of $105,500 for families with children in 2019, this amount proves insufficient in major cities like Toronto. The approximate cost of living for a family of four, excluding rent or a mortgage, is $4,710. With a $900,000 home and a 3.5 per cent interest rate paid off over 25 years, the monthly mortgage payment for a four-person family would be $4,169. This leaves families effectively living paycheck to paycheck.

The high cost of living compounds the challenges for young couples making $100,000 annually. Despite having the means to afford property, many are priced out by unaffordable housing combined with soaring living costs.

Black Canadians face unique and formidable barriers to homeownership, with one significant obstacle being the down payment. In Ontario, where the average home is around $900,000, a 10 per cent down payment amounts to $90,000. This poses a significant challenge for Black Ontarians, a majority of whom are first or second-generation immigrants.

Census data from 2016 reveals that 53.4 per cent of Ontario’s Black residents were first-generation immigrants, and 38.4 per cent were second-generation. New immigrants, seeking opportunities in Canada, often start with minimal resources, making it difficult to accumulate the necessary wealth for a down payment.

The median income for newly admitted immigrants in 2018 was $31,900, an unsustainable wage in cities like Toronto, where one needs to make $22.08 per hour to afford basic necessities. This economic disparity forces Black Canadians, including immigrants and their descendants, to live paycheck to paycheck and struggle to save for a $90,000 down payment.

Despite high educational attainment among Black youth, with many holding university degrees, there is still a disproportionately high unemployment rate. Black Canadians aged 15 to 24 experience a 30 per cent unemployment rate, compared to 15.6 per cent for non-Black peers as of 2021. This, coupled with the lack of funds due to inflation, impedes the ability to pass on generational wealth, affecting homeownership and financial stability.

The unaffordability of housing in Canada is not just an economic issue but a social one, disproportionately affecting Black Canadians, immigrants, and the working class. Urgent measures are required to address the housing affordability crisis, ensuring that homeownership remains an attainable dream for all Canadians. If left unaddressed, this crisis risks turning many Canadian cities into elitist hubs where only the ultra-rich can afford to live, marginalizing the very people who have contributed to the development of these cities.

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Quick Quotes: What Liberal MPs have to say as the caucus debates Trudeau’s future

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OTTAWA – Here are some notable quotes from Liberal members of Parliament as they headed into a caucus meeting Wednesday where they are set to debate Prime Minister Justin Trudeau’s leadership.

Comments made after the caucus meeting:

“The Liberal party is strong and united.”

Prime Minister Justin Trudeau

———

“Justin Trudeau is reflecting and he’s standing strong and we’re standing strong as a Liberal party.”

“We as a party recognize that the real threat here is Pierre Poilievre and that’s what we’re fighting for.”

“Trudeau has made very clear that he feels he’s the right choice but he appreciates all of what is being said because he’s reflecting on what is being done across Canada. I respect his decision, whatever that may be.”

Charles Sousa, MP for Mississauga—Lakeshore

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“We had some open and frank discussions. People are relentlessly focused on serving Canadians and win the next election. This was really a rallying call to win the next election.”

Industry Minister François-Philippe Champagne, MP for Saint Maurice—Champlain

———

“I don’t know how many people spoke, well over 50 I’m sure. They came at this from all angles and now (we’ve) got to go back and process this.

“We’re on a good path.

“It was very respectful. You know, caucus has always had the ability to get into some tough conversations. We did it again today and it went extremely well. Where we land? Who knows? You know we have to go and really process this stuff. But one thing that is absolutely, you know, fundamental is that we are united in the fact that we cannot let that creature from the Conservative party run the country. He would ruin things that people greatly value.”

Ken Hardie, MP for Fleetwood—Port Kells

———

Comments from before the caucus meeting:

“There’s a — what would you call it? Some palace drama going on right now. And that takes us away from the number 1 job, which is focusing on Canadians and focusing on the important policies but also on showing the really clear contrast between our government, our party and Pierre Poilievre.”

Randy Boissonnault, Employment Minister, MP for Edmonton Centre

———

“We’re going to go in there and we’re going to have an excellent discussion and we are going to emerge united.”

Treasury Board President and Transport Minister Anita Anand, MP for Oakville

———

“I think caucus is nervous because of the polling that has been constantly going down in favour of Liberals, and there’s a lot of people who do want to run again. I’m not running again, although I already told the prime minister that. But there are people there that want to run again and they’re nervous because of what polls are saying.”

“He has to start listening.”

Ken McDonald, MP for Avalon

———

“We’re going to have a good caucus meeting. MPs should be free to air their perspectives, I’m sure they will, and we’ll come out of it united.”

Peter Fragiskatos, MP for London North Centre

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“I have to read the room. There’s all sorts of wheels within wheels turning right now. I’m just going to go in there, I’m going to make my mind a blank and just soak it all in.”

“I’m not going to say anything about (the prime minister) until I have my say in there.”

Ken Hardie, MP for Fleetwood—Port Kells

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“I wish there was a mechanism for it, yes,” he said, responding to whether he wanted a secret ballot vote in caucus to determine Trudeau’s leadership.

Sean Casey, MP for Charlottetown

———

“The prime minister will always be on my posters and he is welcome in Winnipeg North any time.”

Kevin Lamoureux, MP for Winnipeg North

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“Absolutely I support the prime minister.”

Yvonne Jones, MP for Labrador

———

“When you look divided, you look weak.”

Judy Sgro, MP for Humber River—Black Creek

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“I think Pierre Poilievre is absolutely beatable, he’s ripe for the picking with the right vision, the right leadership and the right direction for our party. The Liberal party is an institution in this country. It’s bigger than one person, one leader, and it’s incumbent on us as elected officials to make sure we put the best foot forward.”

Wayne Long, MP for Saint John—Rothesay

This report by The Canadian Press was first published Oct. 23, 2024.



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With Liberal election win, First Nations in N.B. look forward to improved relations

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FREDERICTON – Chief Allan Polchies says he is excited about New Brunswick’s new Liberal provincial government.

Polchies, of St. Mary’s First Nation, says he looks forward to meaningful dialogue with premier-designate Susan Holt after years of tense relations with the outgoing Progressive Conservatives under Blaine Higgs.

He is one of six Wolastoqey Nation chiefs who have filed a land claim for a significant part of the province, arguing treaty rights have not been respected by corporations and governments, both of which have exploited the land for hundreds of years.

The December 2021 court challenge has been a sore point between Indigenous Peoples and the Higgs’s government.

Eight Mi’kmaw communities are also asserting Aboriginal title to land in the province, and they say they hope to work with Holt and her team on “advancing issues that are important to our communities.”

Holt’s campaign didn’t give details on the Liberal government’s position on the Indigenous claims, but she has said she wants to rebuild trust between the province and First Nations.

This report by The Canadian Press was first published Oct. 23, 2024.

The Canadian Press. All rights reserved.



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Abdelrazik tells of despair when Ottawa denied him passport to return home from Sudan

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OTTAWA – Abousfian Abdelrazik told a court today about the roller-coaster of emotions he experienced during the tense days of early 2009 when he awaited the green light to return to Canada from Sudan.

The Sudanese-born Abdelrazik settled in Montreal as a refugee and became a Canadian citizen in 1995.

During a 2003 visit to his native country to see his ailing mother, he was arrested, imprisoned and questioned about suspected terrorist connections.

Abdelrazik says he was tortured during two periods of detention by the Sudanese intelligence agency.

He is suing the federal government, claiming officials arranged for his arbitrary imprisonment, encouraged his detention by Sudanese authorities and actively obstructed his repatriation to Canada for several years.

In March 2009, he made arrangements to fly home to Canada and asked Ottawa to issue him an emergency passport, but his hopes were dashed — at least temporarily — when the request was turned down.

This report by The Canadian Press was first published Oct. 23, 2024.

The Canadian Press. All rights reserved.



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