Yes, and it’s getting worse. Some places are worse than others. I have friends in Nova Scotia who have told me that there are a lot of Americans buying up properties. The real estate market wants to take advantage, of course, because the Americans are able to pay more. It’s driven up the price of homes, and it’s making it difficult for the people who live there, so they can’t afford to buy. The same thing is happening on the West Coast.
There are landlords who see this as an opportunity to increase rent. Together with this and the inflation increasing the cost of borrowing, it’s a safe bet that they are less likely to lose tenants.
Plus, they see companies, like telecommunication, gas, insurance, tuition, and grocers all getting away with gouging the public, so why can’t they?
The government isn’t any help. They are mostly focused on bringing in revenue by tax cuts, and reduced red-tape for large corporations.
Things will change. I was reading a book (last year) about Capitalism from the late 1800’s that explained how business leaders and companies could increase their profits and demand more from the work force, if these people had enough “creature comforts.” The idea, is you give the workers just enough to make them reasonably comfortable, and then hold their jobs over their heads. Fear of loss is a driving force in human beings. No one wants to lose. Plus you need to keep them poor enough, and in fear of losing their jobs, that they won’t have the time, energy or desire to protest.
This has worked reasonably well over the last one hundred years. But, it’s starting to come apart now. We’re starting to see people pass up jobs where they see the wages offered as being unacceptable. People have been pushed to the limit, and can’t afford the creature comforts, the working class used to afford. If they take the job offered at the wages being offered, they see themselves barely scrapping by, if they can make use of a local food bank once in a while. Barely scrapping by, isn’t good enough. People are getting angry, and we’re seeing protests in different countries around the world.
We all know, there’s going to have to be some changes.
