Talk:Economy of Saskatoon

Needs updating since 2009.It's 2013!

Saskatoon has been purposely encouraging a population growth by introducing an unusually high amount of immigrants to the city. The cost of living has skyrocketed and rents are ridiculous. It seems that the city is playing a Ponzi scheme: The population coming to the city requires homes and the city's construction industry is the biggest thing going. But the workers are supplied by the population growth and so require more construction to keep them working. So they will keep bringing in more people to make up for the demand for new homes and the process can only continue if the population eternally grows. We have no new growth in other industries and the University, which is supposedly the biggest employer, is severely under financed or in debt. They have laid off many people recently to the disappointment of students as the quality of the education suffers.

We are in for big trouble. The demand will continue to escalate causing more ridiculous inflation and rents too high for ordinary people to afford. We are developing ghettos of areas in the city. A person making 30,000.00/yr must pay more than half of their realized income on rent if they don't own. Owners are all charging well above their mortgage rates. The renters are buying their homes for them, with absolute rights to hold the renters liable for what would normally be depreciation costs of regular investments. They are doing this by the legal powers granted to them to restrict any preferential activities in the renter's homes. (Examples: smoking, pets, parties, personalities, etc.) There is also no limit on how high they can raise rents and use it to discriminate even more.

I'd imagine the landlords do not realize that the mortgage rates will catch up to attempt to take some of their profits and they will in turn continue to chase the rents up higher. I don't know what may happen yet. But I'm predicting that we are following the American's recent mistakes big time!!

And why isn't anyone noticing?

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