Appeared in the National Post and Calgary Herald, ESG - Environmental, Social and Governance, Western Canada BC, AB, SK, MN, NT, YT, NU, government-appointed commissioner of competition, Canada-US Energy Sector Competitiveness Survey 2021, Housing Codes, Homelessness, and Affordable Housing, Government-mandated ESG disclosuresa reality check, Costs of mandatory ESG disclosure likely would outweigh benefits. Not only are there fewer houses for sale, but these investors tend to have stronger offers to bring to the table. Wealthsimple Tax Review (previously SimpleTax): Is this Canadas Best Free Tax Return Software? But after years of comparable exchange rates, why are we still being gouged? Your own government won't let you. Taxes are just lower in general in the states across the board, the sales tax rate is much lower and it applies to only certain items, as the HST applies to pretty much everything. I'm even fine with using the U.S. dollar; yes, yes, we would lose control of our monetary policy, but reality forces our central bank to track the Fed's anyway. When it comes to a house, if you have a break in employment, it is hard to keep up with all the expenses and responsibilities. With a history as a golf professional, real estate agent and business owner, Britt has a wide range of experience and knowledge in a variety of topics. Especially given that picking on retailers - as opposed to any other sector, such as restaurants, the legal profession or fruit sellers on the side of the road, all of whom might charge differently based on their location or their client - amounts to a sector-specific witch hunt. Low interest rates are something that many countries are experiencing at this time. Well, that depends on whether you want Canada to remain sealed off from the largest, deepest, richest economy in human history, and how much you're willing to pay for that isolation. That is to say it is back in production. It could be that the higher prices in Canada are essentially driven by the greater Toronto and Vancouver areas, where pockets of high-priced housing are numerous. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. That Is it because of higher taxes or the healthcare costs. This is a serious insult to Canadian intelligence, given that this is a one-time cost that may equate to a few hundreds of dollars, not thousands per vehicle. Colorado Vs. California (Whats The Difference? Less money spent on consumer goods translates to more money in your pocket. Comments are welcome while open. Consider: Ontarios population is somewhere around 13 million largely clustered within a 100 mile radius around Toronto. The prices of almost all the utilities have gone up whether it is furnishings or beverages due to the surge in their demands. PolicyMe Review: The Best Way to Get Life Insurance Online In Canada? Or are businesses raking in more profits than in the US? Read more at: http://maplemoney.com/legal/. People with certain medical issues find that Canada can be a better place for them to live. The result, says Price Waterhouse Cooper, is that even with all the expenses Canada imposes on cross-border commerce, even factoring in higher shipping costs Canadians must endure, and parasitic customs brokers' fees, U.S. "e-tailers" still enjoy a price advantage of about 12 per cent over their Canadian competitors. Stu, what do you think would convince the Government otherwise? One of the main selling points for real estate is location. That gap, says the study, would grow to a bankrupting 25 per cent if the de minimis were to be raised. The study goes on. And Canadians aren't big on creative destruction or competition theory. I think basic health care in Canada is better, the States provides more options and quicker care if youre really sick Moreover, See Details 3.Welcome to Clearly Canadian Author: clearlycanadian.com Post date: 11 yesterday Rating: 5 (1236 reviews) Highest rating: 5 Low rated: 3 Overall, these issues work together to make food prices high in Canada. Usually, a (325ml/11fl. In 2013, a movement began online to bring back the beloved drink. Comments on this story are moderated according to our Submission Guidelines. However, it does make the upfront cost of the home quite a bit higher. Raising the de minimis would be a savage disruption. It makeseverything from the lenses to the frames in a pair of glasses. If it becomes law, the legislation will allow the government-appointed commissioner of competition to force retailers to disclose "evidence," which might "expose discriminatory pricing practices." That's great for people who are watching their calorie intake or trying to eat more organic foods. Our goal at MapleMoney is to present readers with reliable financial advice and product choices that will help you achieve your financial goals. This column is part ofCBC'sOpinion section. But why are they so expensive? Nunavut is as large as Western Europe and covers most of the Canadian Arctic, with a population of more than 30,000, mostly Inuit. 2 years ago in Ontario, they instituted an HST tax of 13%, I think 95% of the people in Ontario didnt even know it was in legislation, let alone passed. By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. According to Clearly Canadian - Wikipedia, the business had numerous problems over the past decade and there were some years during which the beverage was not being produced. People are purchasing a home and then choosing to live the remainder of their life in that home. Our US cousins (2) pay more than $3200 US a month for healthcare. The only way to save money on things like this is to build your own home and install these high-end features yourself. Not only do they taste great, but I also love how they are healthy for me and help to keep me hydrated throughout the day. more considerate towards worker rights. The same trip out of Buffalo (less than an hours drive) is $189. Just wondering. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Be the first to know about all the latest topics on MapleMoney. The cost of using the better materials will certainly pay off in the long run. Some of the main Canadian brands that compete with these two soda giants are Canada Dry, Crush, Big 8, and Clearly Canadian. However, Clearly Canadian Originals uses cane sugar which is a natural sugar as opposed to high fructose corn syrup or artificial sweeteners. It is the seat of the Kenora District. The problem with something like supply and demand is that there really is no cap to it. But lifestyle changes mean local people are now reliant on imported food. They can be reached at the Haider-Moranis Bulletin website, hmbulletin.com. Its sad to think that some issues that are important to Canadians are not considered important by politicians. But in an interview with the CBS newsmagazine60 Minutesin 2013, a Luxottica company representative said "everything is worth what people are ready to pay.". Web/ why is clearly canadian so expensive. Britt Olizarowicz is a freelance writer, author and mother of two young children. That is more than 18 teaspoons of added sugar, according to the American Heart Association. The household debt-to-income ratio used to be higher in the U.S., but Canadian households have piled up more debt relative to their incomes in the past 10 years. Purchasing real estate in Canada is quite expensive. No not much gets thru to the govt except scandal in the news media. Low interest rates are a great thing for buyers, but those buyers usually end up paying quite a bit more for the house that they purchase. According to the UCLA analysis, Warby Parker was still able to maintain a profit margin while charging approximately $125 Cdnless than Luxottica through working directly with lens and frame suppliers and avoiding the licensing costs that come with the brand names offered by the competing eyewear giant (such as Prada). Most shocking is the fact that Canadians pay more for cars that are manufactured here at home! Several reasons may be causing this to happen. How does this relate to personal finance. To place that amount into perspective, CIHI estimated total spending on outpatient prescription drugs in 2015 was about $29.2 billion, of which about $12.6 billion was being paid through public plans. This brand broke open the water market and if they hadn't made mistakes, they would've dominated the premium water space in America. There are jobs out there that are good, and they pay quite well. $65 for a bag of chicken? I dont think any country is better than the other, its really what youre used to and your personal situation and preference. Drake Media Inc. All rights reserved. As you will see from some of our other reasons as to why the pricing in Canada is so extreme, there are many reasons for this issue of supply and demand. The cycle essentially continues to repeat until there is some sort of a break or change in the market. We pay, therefore nothing changes. The merger of Essilor and Luxotticaalso stopped the two companies from competing with each other in their previous core businesses Luxottica in making frames, and Essilor in making lenses. Bitter divisions over Ukraine dominate G20 talks, Greek trains halted as anger over crash grows, Messages reveal battle over UK Covid policy, How 10% of Nigerian registered voters delivered victory, Sake brewers toast big rise in global sales, The Indian-American CEO who wants to be US president, Blackpink lead top stars back on the road in Asia, Exploring the rigging claims in Nigeria's elections, 'Wales is in England' gaffe sparks TikToker's trip. The winters tend to be quite rough, depending on the location in Canada. Jennifer this will never be a govt priority except one to avoid just like abortion,assisted suicide or any of the others they always drag their feet on. Why has it come to this and what can we do? You will find English, Scottish, Irish, Indians, Italians, and many other nationalities here living peacefully together. Still, it's important to be aware of how much caffeine you're consuming. Also, residential and non-residential price movements in Canada were in sync up until that same year. Retailer Ollie Quinn echoes that, saying that controlling its own supply chain results in lower costs for its customers. Its harsh, northern climate And anyway, physical cash is being replaced by digital money. One company controls almost everything about them Prescription eyeglasses can range anywhere from the mid-$200s Who cares if Porky Pig's picture is on a $10 bill if it buys more? Required fields are marked *. The truth is that Canadians pay more than Americans on almost all consumer goods: groceries, beer, gas and books, to name a few, despite being just across the border geographically much closer, may I add, than those living in Hawaii. The result is higher airline fares in Canada. The concept was that the warmer weather allows for more enjoyment outdoors, and it can be a better way to spend the end of our lives. There was an error, please provide a valid email address. For example, if you are 100,000 dollars from a job per year, you might be getting approximately 77,000 after the tax reductions. When there is an increased demand for a product, but not enough supply, people are willing to pay more for the products/services. WebThere are a number of reasons food is expensive in Canada, including climate change, geography, government policies, the fluctuating value of the dollar, and the COVID-19 pandemic. Is that even possible? Thus, a continental market in airline travel would serve passengers if an American airline could compete head-to-head with Canadian airlines on domestic routes. All of these reasons and others are bringing people to Canada. They're an expensive, but necessary, product for many. It has become a multicultural society that contains the entire globe within its 9.985-million-kilometer square land. Extending the above point, Toronto is one of the fastest-growing cities in Canada and has a large influx of immigrants each year. To do that, transparency is critical. "Lots of kids go to school hungry and don't have proper meals. Or consider another issue - dairy and poultry products. Milk alone costs me an extra $25 a month than in the states. Pseudonyms will no longer be permitted. The govt could help by eliminating the tax compounding that apparently occurs on products businesses import. "Transport generally makes up 13% of our costs," he says. In the end, this is going to continue to drive up the pricing of real estate in Canada. In times of higher interest rates, the total prices of the homes have to stay a little lower. With a rental, you can usually leave to find a cheaper one. Now, though, it's in your face every time you Google a price for something you need: consumer life on the other side of that high border customs wall, the one topped with the Canadian-installed concertina wire and guarded by ferocious uniformed tax collectors, has the unattainable allure of the Tuscan countryside. Industry Minister James Moore, who announced the proposed legislation, used over-the-top language from historic civil rights struggles to describe the Canada-U.S. price gap, calling the differences between U.S. and Canadian retail prices "geographic price discrimination." The country is rather prosperous, and many of the residents have high-paying jobs or large companies that they own. 'The scale of the challenge is so large that the private sector must be involved', 62.7% of household income needed to cover home ownership costs the worst level on record, RBC says, 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Housing markets reached new heights in 2020, and Canadas housing prices have grown faster than those in the United States, though they once used to routinely march in step. Here's why we pay more for everything in Canada and always will: Neil Macdonald | CBC News Loaded. ESTIMATED EXPENSE: $0-$30 USD per day. We are looking at what others do The fact is, prices are higher in Canada than they are in America.. If the supply is unable to meet the demand, the prices go up. But Canada demands a lot more sales tax, and our federal and provincial tax departments co-operate. If you are thinking of purchasing a home in Canada, be prepared for it to be expensive. Jennifer Chauhan is a staff writer at Canadian Finance Blog who considers the softer side of personal finance. ", And while it is cheaper to send non-perishable items by ship in the summer, this creates its own problems. Also, according to statistics by the Organisation for Economic Co-operation and Development, Canada is neither much more urban than the U.S., nor do Canadians live disproportionately in large populous cities. Or maybe it costs more to ship the goods to Canada. The home will need to have systems to handle hot times and, most importantly, cold weather. Wondering why your glasses are so pricey? Much of Ontario's rising electricity costs are due to ill-advised and expensive government-mandated feed-in tariffs for wind power and other expensive types of electricity. This means that most areas in Canada are going to see a wide range of climate and weather conditions throughout the course of a year. Canada's de minimis is $20 Cdn, which denies Canadians the right to bring in pretty much anything without big, punishing fees. Gary, you might be the perfect person to ask about this. The BBC is not responsible for the content of external sites. Whats up with Canadians? When we lived in the states, our monthly grocery bill for a family of 5 was about $700 a month, in Canada its about $1200 a month for essentially the same thing. And Canadians aren't big on creative destruction or competition theory. Their roads and bridges are crumbling. As with most things related to pricing and economics, the theory of supply and demand applies to the Canadian housing market. But the federal government won't allow it. Because the cost is all the foregoing data, flippedaround. Twice a year we travel to Massachusetts for a cook off. In the states, to get all of that, including basic health coverage, it would cost me about $1700 a month if I purchased as a private insurer, not part of a bigger company plan. Ppl in Toronto are absolutely very rude, angry ppl, wwho give attitude to one another for no reason, which is why I ran away to Calgary because of it, now Im starting to noticed a lot of idiots from Toronto moving here and bringing that garbage attitude with them here too (specially immigrants do this) if this keeps up Im moving to south of u.s, this sissy b.s Canadian attitude is none sense. U.S. and Canada prices marched in step until the Great Recession of 2008-09. Understanding How RRSP Contribution Limits Work, How my couponing has evolved over the past 7 years. WebNaslovnica; O nama. Last but certainly not least, homes are expensive in Canada because it is a popular place to live. One company controls almost everything about them | CBC Radio Loaded. Your email address will not be published. Due to the abundance of heat, wind, and fuel, there is a potential for frequent firestorms. Since then, the drink has been available once again for all those who wish to enjoy it. Having to move as an older person can be stressful and ultimately not preferred. For those looking to stay, the market inventory at their new price level needs to be considered. I guess I have a different view of prices living in Sault Ste Marie with close US access. With the COVID-19 Pandemic, the Canadian job market took a bit of a hit. In the U.S. we complain all the time about taxes, price of gas and food, etc. In Montreal, for example, landing fees are charged at a rate of $10.29 per 1,000kg of the To add insult to injury, Canadian Brokerages such as TD Ameritrade is offering Americans up to 60 free trades and an amount of money approximately, $600 I believe, to start trading with just for opening an account. If one was waiting for the pandemic to dent housing markets, 2021 does not appear to be the year for that. Plus, the number of Canadians who now use a post-box in the States so that they can save the cost of shipping on their online purchases is staggering. For the most part, Canadians spend between 15%-40% more on their cell phone plans compared to Americans. For more information about this section, please read thiseditor'sblogandourFAQ. You can visit it, but you can't live it. Of course, what this means for the housing market is a decrease in the number of homes available. Its the retailers who need to start pressuring government to lower taxes. To think a government is remotely capable of collecting and properly collating this type of comparative information assumes a degree of specific knowledge that governments do not possess, as it would be impossible to track the millions of business decisions that are made on a daily basis. And let everything slide!!! They make drinking water even better and love keeping my fridge stocked with them. No other soda can compare to the amount of sugar in Mountain Dew, making it the unhealthiest soda option on the market. Subscribe now to read the latest news in your city and across Canada. Protectionism, so long the Canadian way, leads to complacency and uncompetitive behaviour. To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Please note that CBC does not endorse the opinions expressed in comments. That's a lot of aviator glasses. $100 for 12 litres of water? In fact, many people will quickly realize that the price of closing can put them out of qualification for a mortgage. I can now bring back $200 worth of goods (duty free) after an overnight stay in the US and $800 after two days away. It seems that working conditions, pay and benefits are ever so slightly better in Canada than they may be in the US. Non-residential construction, except for high-end office and retail development, often occurs in places where land supply is not scarce and where land prices constitute a smaller portion of development costs. This drastic idea goes to show how much of an impact foreign real estate investors have had on the housing market in Canada. Prices are still so high in Canada as there are simply too many people bidding on too few homes, in turn driving prices higher. The goal is to someday no longer have a mortgage and to be debt-free on your home. The BMO report highlights the possibility of the immigration-driven increase in the Canadian population as one of the driving forces for increasing housing prices. According to the experts, the wildfires in some parts of Canada have started to generate their personalized weather systems. WebSummary: The reason for the higher price is that it contains natural ingredients and does not contain any unwanted elements that can be harmful to your health. Too much caffeine can lead to restlessness, anxiety, and insomnia. "Our lens manufacturer is right here in Canada," explained Anderson. The taxes and fees will make purchasing a house a big part of the overall decision to purchase a home. Some people who spent their entire lives in the snow and ice actually realize they enjoy the snow and the ice. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. It is no wonder that Mountain Dew has been dubbed the nectar of the gods by its many fans, as one 20-ounce bottle contains a whopping 77 grams of sugar. If there are not very many homes for sale, the prices for them are going to be higher. When you drink a Clearly Canadian, you can taste the difference that quality ingredients and 25 years of experience make. This floods the market with investors and leaves people with very few choices when they are looking for a new home. This is a serious insult to Despite receiving complaints that there could be negative effects on competition, the deal was deemed OK because essentially, each company primarily operated in related, but not directly competitive fields the lenses versus the frames. We use only the finest fruits, sparkling water and pure cane sugar to create our unique flavours. The Cost of Livingreached out to EssilorLuxottica, as well as representatives with subsidiary companies for comment and did not receive a reply. bottle of soda contains around 35 grams or more of sugar, with the average American consuming approximately 152 grams of sugar per day. Sneakers We reserve the right to close comments at any time. I get all sorts of stuff shipped and there are tremendous savings. Over 30 years, a homeowner will pay a large amount of interest. Stringent government regulations could choke the supply of new housing, which contributes to an increase in prices. We ask you to keep your comments relevant and respectful. In simple words, it means that if you can buy a bag of chips for 1$ today, maybe a few days later, the price increases to 1.05$. If you don't see it, please check your junk folder. They concluded that land use restrictions caused Manhattans prices to be twice as high as construction costs. This is the big one. Here, in part, is the case made by Canadian retail against pulling down any border walls. How much is Clearly Canadian worth? In other words, one percent may not seem like a lot until you consider the fact that the price of the home is $1.5 million. The monopoly of Canada Post. Although it is nice that the new homeowners will not have much work to do, some cant afford this concept. But I suspect that is hardly the majority view. That means that all of those savings and not having to pay for brand names and branding rights.". For Canadians, most would rather pay a bit more for a home and have access to great jobs than to lose their job and have a cheaper house. Comments are welcome while open. Some good news for those of us who grew up in the 1990s Clearly Canadian, the popular soft drink from that decade, is back on store shelves! However, I consider those a minor inconvenience. Some places, like Florida, California, and Arizona, are quickly becoming overpopulated. Another problem with investors is that they go into these homes that would potentially need a bit of work, clean them up, and then flip them for a high profit. This makes it ideal for those who are health-conscious and are looking for a delicious and pure sparkling water option. We apologize, but this video has failed to load. Specifically, I believe that the price gap is largely based on U.S. retailers analyzing the Canadian market and pricing UP TO the market. Prescription eyeglasses are big business in this country, accounting for about $1.7 billion of sales in 2017. Hence, prices for residential real estate could have grown faster than non-residential real estate because of the formers likely urban location. Canada Post workers are grossly overpaid. To this day, Clearly Canadian remains a cultural icon, with many millennials having fond memories of the beverage from their childhood. When a real estate investor purchases a property, they are either looking to flip it, rent out the units, or hold onto it and eventually flip the property for a profit.
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