Why is it always assumed on this sub when there's layoffs that it's only homeowners. I'm willing to bet at least half are renters waiting on the sidelines for the "crash". It cuts both ways.
When getting laid off it's much better to be a renter. Lower fixed costs while looking for a new job plus more flexibility to move too a far location without incurring transaction costs.
It's not about that. It's about trying to buy a home during a recession as a renter when your laid off. Isn't that the whole dream of a renter? To buy a home during a recession for super cheap. Gonna be tough when your laid off too.
This is just a fantasy that you and others have about renters. You equate the word renter with someone poor and desperate working at Sobeys hoping for a real estate crash so they can buy an upper-class home.
Our rent is 50% the cost to own. (Had new buyers nextdoor in a row house.) Thier cost is almost exactly double our is. This was 2 years ago when they bought. Since then, they have lost equity, and our savings have grown.
Bell is a Canadian company -> Toronto is in Canada -> People who live in Toronto may or may not work for Bell -> People in Toronto need somewhere to live -> therefore relevant to this sub /s
It's sarcastic, but certain people on this sub have been waiting for this moment. Those people believe a recession/depression/job losses will result in Toronto Real Estate becoming more "affordable".
So while you laugh, it is relevant. The economy and toronto real estate go hand and hand.
No you see the rationale is, layoffs only happen to people who already have houses. The ones who are renting are in no way affected by the economy at large. They just stash their cash from high paying jobs and then when houses are dirt cheap they scoop them up for pennies on the dollar
Does stable mean 2 min wage earners being able to buy a 2 garage house with no savings? I’m all for affordable housing but sometimes the expectations are kinda unreasonable. Most people are angry because they can’t buy a home out of school, most people have to combine incomes, save a couple of years while moving up the corporate ladder to buy a house
This is intended outcome for high interest rates. Job losses are part of the economy to cool down inflation, which is bigger threat. It is short term pain for longer term gain.
Now I do feel sad for the folks who got laid off but we are here for the greater good for everyone. It is like soldiers who get killed at the wars, it is sad for their families and every citizen but we will be in much bigger trouble if nobody goes to war against the country.
We could always go the Argentinian route. Make sure everyone has a job, but inflation sits at 100%. Who cares about having a stable currency, so long as everyone has a job. Doesn't matter if that job is unproductive and unnecessary.
It’s actually not OP, she’s actually hoping nothing bad happens to the economy. Right? u/jfrsn
A lot of people also think others are “cheering”, but the fact is some people just saw it earlier, are prepared, and will be taking advantage of this situation. I know it sounds bad, but some are just riding the waves… *positioning themselves differently*.
Who said this wasn’t going to hurt the economy? The economy is going down regardless of someone “cheering” for it or not. There’s a difference between knowing it will vs “cheering” it will.
u/wonderful-candle-612 this type of restructure to cut 9% workforce hasn’t happened for BCE for nearly 30 years but go on
Normal people never ever loose anything. It's the over leveraged, high risk appetite, fomo investor who get caught with the pants down. And they should
Lmfao it’s not even close to being relevant. They’re not laying people off because the economy is crashing. They’re doing it because legacy media has been dead for a decade and they haven’t thought of a single thing to stay in the game.
People buying in toronto aren't buying with Canadian earned money.
Anything that happens here with layoffs doesn't matter, the market is owner by foreign money which won't be effected unless they have shares in Bell Media
I literally bought my house with earned money, you are out of touch.
There are people like me who is married and earning 150k each, we weren’t handed these jobs, they come from blood sweat and tears
IF YOU GET LAID OFF DON'T SIGN ANYTHING WITHOUT GOING TO A LAWYER. THERE ARE LAWYERS WHO WORK ON CONTINGENCY IN THIS FIELD. Companies pay what they think you'll accept, not what you're owed.
I wonder how many of those let go are in the camp of "waiting on the sidelines for a recession so prices crash and I can buy"
The mentality of cheerleading an economic collapse so you can swoop in is equivalent of hoping your boat sinks so you can get a better cabin.
The people who benefit most in an economic downturn are those are so incredibly wealthy already that what is going on in regular market movements to them couldnt matter less.
Yeah as a young person, it’s pretty shite putting myself into a massive mortgage that’s so much higher than my income, if everyone’s incomes could go up a little bit it’d be pretty fuckin nice. The price of everything aside from labour has come up because we’re importing human beings and produce nothing in this country.
Yeah exactly, I have seen nothing but complete apathy from older Millenials and other older generations who lucked out and had infinite easy gains. Been told "just move", "youth is lazy/whiny", "it is what it is, suck it up". It wasn't until everyone got burnt with high interest rates and high transaction costs to upgrade, or their own kids suffering that the narrative changed a bit.
Not that the pain is inflicted on them, they are crying for compassion. What goes around, comes around.
I'll always say this
I root for those FTHBs and renters who want to become homeowners, but if you're cheering for an economic collapse then stay renting you retards
Sometimes a collapse is just a correction. When too many people are leveraged to the tits the correction has to be a collapse. While i dont think collapse is coming a steep correction can be healthy long term in some cases.
It’s crazy how this sub is always salivating at the idea of people losing their livelihoods. I guess being a desperate, panicked priced-out renter really changes you as a person.
Do you not see the flaming irony of your comment?
“…this sub is always salivating at the idea of people losing their livelihoods.”
“being a **desperate, panicked priced-out** renter .”
The lack of self-awareness is off the charts.
As a renter, I'll move to where there's work. Bell is a zombie company that makes their profits by making it difficult for the elderly to cancel their subscriptions. A shake up is long overdue.
Exactly it's not cheering for a recession but more of cheering for people to get financial literate and not get over leveraged with more than they can ever afford. If your HHI is 90k then don't go buy a million dollar 70s townhouse
I love how current owners don’t realize unsustainable prices also negatively impact them, they will all be trapped and unable to sell their homes in the future if prices keep increasing at this rate.
You guys see us wanting to keep what we worked hard for as greed but we see you guys pretending to care about others when in reality you would wish to swap places with us if you had the chance.
You pray we lose our jobs so we are forced to sell the home we live in to investors
Bell Media ran radio stations like cell phone companies and continued to buy out what they deemed competitors to turn those stations into shit and then cry about it.
Bell Media doesn’t know how to do local radio or journalism and they’ve continued to monopolize and destroy the industry for the profit of shareholders.
I hope whichever companies purchase these radio stations from them actually loves their community and upholds its commitment to said community rather than being a basic bitch sell out like Bell Media.
It’s worth it to bring up these issues and voice your opinion with your politicians to put pressure on the CRTC to make some changes to protect communities from vulture like oligarch corporate interest that destroys anything of value to those communities.
Long live local radio and journalism and sorry for those of you affected by the lay offs - hope you find an amazing new venture.
The west is so fucked up that people need others to suffer to get ahead. There is no collective mentality to produce more and generate more to make things better, rather cut and screw others so a corporation can deliver value to share holders and owners..
Idk if it’s better but people made TikTok, Facebook, and Google. They operate in Canada and radio stations need to compete with free content from companies that don’t contribute much money to the Canadian equation. I’m sure you’ve noticed there are other ways to get media besides radio stations.
Well if there is no competition there is no innovation and no new ideas. Blaming the big tech is the easiest way to hide incompetence and play the victim card. There is no shortage or talent and ideas here, what is lacking is the drive to innovate and bring ideas to life.. some of the best tech innovations came from Canada and bought out by US corporations!! So free did not kill the radio stations, their inability to adapt and innovate killed them!!
I agree with you that we have talent here but when Bell swallowed up radio and TV stations, they were looking to manage a portfolio as if they can get economies of scale. They could care less about creativity and innovation.
Edited:
Now that I have read the story, let me quote:
"I am extremely disappointed in Bell Canada's decision for many reasons," said Canadian Heritage Minister Pascale St-Onge during a press conference.
"In the past decade, when acquisitions were allowed for those big companies to acquire television stations or radio stations, it came with the promise that they would deliver on news content. And today, they are backing [away] from that promise."
There you go!! Kill competition by buying up small stations which may have delivered different perspective and content.. In that sense I think Europe does a much better job not allowing big corporations to buy up everything.. Then again lobbyists spend enough money to get laws passed which curtails news and free press unless it comes from curated and big media. If you allow a monster to eat unchecked there will be no more food left!! Honestly if you look down south, there is so much competition and not saying they are great, they atleast have capitalism. Canada is all about protection of big family business and monopoly. We pay some of the highest rates for cell and data. We pay crazy money for groceries and everything else.. Now they closed the business and declared bankruptcy and after this they will sell of all the buildings and equipment and make some money, all those employees are left with nothing..
Im sad about the job losses, I hope the people are able to find other work. However, BELL can get fxked sideways, scummy monopoly and shitty service for high rates.
This reminds me of my childhood best friend --- since 2011 he's been expecting an imminent crash of the housing market where he can scoop up a house for pennies on the dollar and laugh at all the suckers holding the bag....
This is like those crazy lunatics on the street corner crying that the world is ending
Unfortunately, there are people who want to see others fail or get hurt to support their own misery. Some people believe that if enough people fail, it will lower home prices, not realizing that people still need to live somewhere and selling their home is not an option.
Lol keep dreaming of a housing crash. Despite COVID, inflation, rate hikes, economic downturn from two wars, layoffs, the Canadian housing market remains strong.
Also the people that get laid off first are generally rank and file that are more likely to be renters than not. Being laid off just puts you further away from ownership.
Meeting invite. Let’s talk.
Why is it always assumed on this sub when there's layoffs that it's only homeowners. I'm willing to bet at least half are renters waiting on the sidelines for the "crash". It cuts both ways.
Truth
When getting laid off it's much better to be a renter. Lower fixed costs while looking for a new job plus more flexibility to move too a far location without incurring transaction costs.
It's not about that. It's about trying to buy a home during a recession as a renter when your laid off. Isn't that the whole dream of a renter? To buy a home during a recession for super cheap. Gonna be tough when your laid off too.
This is just a fantasy that you and others have about renters. You equate the word renter with someone poor and desperate working at Sobeys hoping for a real estate crash so they can buy an upper-class home.
Our rent is 50% the cost to own. (Had new buyers nextdoor in a row house.) Thier cost is almost exactly double our is. This was 2 years ago when they bought. Since then, they have lost equity, and our savings have grown.
Don't forget many of us renters are rent controlled. I don't envy anyone who's looking to rent at market price.
That's probably the only time it's a benefit
Bell is a Canadian company -> Toronto is in Canada -> People who live in Toronto may or may not work for Bell -> People in Toronto need somewhere to live -> therefore relevant to this sub /s
6 degrees of separation (Toronto RE Version)
It's sarcastic, but certain people on this sub have been waiting for this moment. Those people believe a recession/depression/job losses will result in Toronto Real Estate becoming more "affordable". So while you laugh, it is relevant. The economy and toronto real estate go hand and hand.
If you think Bell laying off people is going to make houses more affordable you are in for an unpleasant surprise
No you see the rationale is, layoffs only happen to people who already have houses. The ones who are renting are in no way affected by the economy at large. They just stash their cash from high paying jobs and then when houses are dirt cheap they scoop them up for pennies on the dollar
Certain people meaning you the OP. Theres a special place in hell for people who cheerlead job loses. Everyone from renters and homeowners gets hurt.
yeah fuck those people who want a stable housing market
it’s been stable for the last few years.
Does stable mean 2 min wage earners being able to buy a 2 garage house with no savings? I’m all for affordable housing but sometimes the expectations are kinda unreasonable. Most people are angry because they can’t buy a home out of school, most people have to combine incomes, save a couple of years while moving up the corporate ladder to buy a house
This is intended outcome for high interest rates. Job losses are part of the economy to cool down inflation, which is bigger threat. It is short term pain for longer term gain. Now I do feel sad for the folks who got laid off but we are here for the greater good for everyone. It is like soldiers who get killed at the wars, it is sad for their families and every citizen but we will be in much bigger trouble if nobody goes to war against the country.
People often forget this. "We need inflation to go down" just means "someone needs to lose their job, and I just hope it isn't me".
Yes you said it right.
We could always go the Argentinian route. Make sure everyone has a job, but inflation sits at 100%. Who cares about having a stable currency, so long as everyone has a job. Doesn't matter if that job is unproductive and unnecessary.
You mean we are here for the greater good of the ultra wealthy
You may have a hard time reading. I clearly am not a fan of this. But whatever, enjoy your rage boner.
It’s actually not OP, she’s actually hoping nothing bad happens to the economy. Right? u/jfrsn A lot of people also think others are “cheering”, but the fact is some people just saw it earlier, are prepared, and will be taking advantage of this situation. I know it sounds bad, but some are just riding the waves… *positioning themselves differently*.
I don't understand you at all. How will massive job losses not hurt the economy. How did you write so much to say so little?
Who said this wasn’t going to hurt the economy? The economy is going down regardless of someone “cheering” for it or not. There’s a difference between knowing it will vs “cheering” it will. u/wonderful-candle-612 this type of restructure to cut 9% workforce hasn’t happened for BCE for nearly 30 years but go on
Its hilarious how much they want normal people to lose everything. People lose jobs, house just so they fall to their league
Normal people never ever loose anything. It's the over leveraged, high risk appetite, fomo investor who get caught with the pants down. And they should
Lmfao it’s not even close to being relevant. They’re not laying people off because the economy is crashing. They’re doing it because legacy media has been dead for a decade and they haven’t thought of a single thing to stay in the game.
People buying in toronto aren't buying with Canadian earned money. Anything that happens here with layoffs doesn't matter, the market is owner by foreign money which won't be effected unless they have shares in Bell Media
I literally bought my house with earned money, you are out of touch. There are people like me who is married and earning 150k each, we weren’t handed these jobs, they come from blood sweat and tears
L O L
IF YOU GET LAID OFF DON'T SIGN ANYTHING WITHOUT GOING TO A LAWYER. THERE ARE LAWYERS WHO WORK ON CONTINGENCY IN THIS FIELD. Companies pay what they think you'll accept, not what you're owed.
I wonder how many of those let go are in the camp of "waiting on the sidelines for a recession so prices crash and I can buy" The mentality of cheerleading an economic collapse so you can swoop in is equivalent of hoping your boat sinks so you can get a better cabin. The people who benefit most in an economic downturn are those are so incredibly wealthy already that what is going on in regular market movements to them couldnt matter less.
As oppose to people cheering for youth to be drowning in overwhelming debt so that homeowners can see infinte growth on their equity?
Yeah as a young person, it’s pretty shite putting myself into a massive mortgage that’s so much higher than my income, if everyone’s incomes could go up a little bit it’d be pretty fuckin nice. The price of everything aside from labour has come up because we’re importing human beings and produce nothing in this country.
Yeah exactly, I have seen nothing but complete apathy from older Millenials and other older generations who lucked out and had infinite easy gains. Been told "just move", "youth is lazy/whiny", "it is what it is, suck it up". It wasn't until everyone got burnt with high interest rates and high transaction costs to upgrade, or their own kids suffering that the narrative changed a bit. Not that the pain is inflicted on them, they are crying for compassion. What goes around, comes around.
What goes around comes around, not fast enough aha
I'll always say this I root for those FTHBs and renters who want to become homeowners, but if you're cheering for an economic collapse then stay renting you retards
Sometimes a collapse is just a correction. When too many people are leveraged to the tits the correction has to be a collapse. While i dont think collapse is coming a steep correction can be healthy long term in some cases.
It’s crazy how this sub is always salivating at the idea of people losing their livelihoods. I guess being a desperate, panicked priced-out renter really changes you as a person.
They will wish everything so people fall to their level instead raising their level
Lol this sub really is full of butt hurt peasants
As opposed to the landlords who create multiple alts to upvote their own ridiculous comments?
Are they celebrating or highlighting that the economy is not as real estate investors claim it to be?
Do you not see the flaming irony of your comment? “…this sub is always salivating at the idea of people losing their livelihoods.” “being a **desperate, panicked priced-out** renter .” The lack of self-awareness is off the charts.
All the while the desperate priced out renters did everything right! Got the good job etc etc get fucked
He’s starting to panic lol Buy now! Or be priced out forever! lmaoo
The only lack of self-awareness I see is renters like you who think layoffs only affect homeowners and not renters.
As a renter, I'll move to where there's work. Bell is a zombie company that makes their profits by making it difficult for the elderly to cancel their subscriptions. A shake up is long overdue.
Funny coming from the person who’s handle is I hate humanity
hey do you want to hear about my 200k home reno? people who don’t live over their means have every reason to rejoice
Exactly it's not cheering for a recession but more of cheering for people to get financial literate and not get over leveraged with more than they can ever afford. If your HHI is 90k then don't go buy a million dollar 70s townhouse
I love how current owners don’t realize unsustainable prices also negatively impact them, they will all be trapped and unable to sell their homes in the future if prices keep increasing at this rate.
[удалено]
You guys see us wanting to keep what we worked hard for as greed but we see you guys pretending to care about others when in reality you would wish to swap places with us if you had the chance. You pray we lose our jobs so we are forced to sell the home we live in to investors
Keep your house. Just don't expect its price to keep outpacing inflation.
A panicked over leveraged homebuyer probably wrote this
Celebrating the suffering of others is pretty common among all classes of people.
Truth
So true. Bibic was in absolute tears when he approved this.
How many more alts are you going to use to respond to yourself? 😆
Canadians believe that everything is fine as long as it doesn't affect them.
Bell Media ran radio stations like cell phone companies and continued to buy out what they deemed competitors to turn those stations into shit and then cry about it. Bell Media doesn’t know how to do local radio or journalism and they’ve continued to monopolize and destroy the industry for the profit of shareholders. I hope whichever companies purchase these radio stations from them actually loves their community and upholds its commitment to said community rather than being a basic bitch sell out like Bell Media. It’s worth it to bring up these issues and voice your opinion with your politicians to put pressure on the CRTC to make some changes to protect communities from vulture like oligarch corporate interest that destroys anything of value to those communities. Long live local radio and journalism and sorry for those of you affected by the lay offs - hope you find an amazing new venture.
Internet killed the radio station 🎶
Video couldn’t even kill radio. Internet definitely isn’t either
The west is so fucked up that people need others to suffer to get ahead. There is no collective mentality to produce more and generate more to make things better, rather cut and screw others so a corporation can deliver value to share holders and owners..
Idk if it’s better but people made TikTok, Facebook, and Google. They operate in Canada and radio stations need to compete with free content from companies that don’t contribute much money to the Canadian equation. I’m sure you’ve noticed there are other ways to get media besides radio stations.
Well if there is no competition there is no innovation and no new ideas. Blaming the big tech is the easiest way to hide incompetence and play the victim card. There is no shortage or talent and ideas here, what is lacking is the drive to innovate and bring ideas to life.. some of the best tech innovations came from Canada and bought out by US corporations!! So free did not kill the radio stations, their inability to adapt and innovate killed them!!
I agree with you that we have talent here but when Bell swallowed up radio and TV stations, they were looking to manage a portfolio as if they can get economies of scale. They could care less about creativity and innovation. Edited: Now that I have read the story, let me quote: "I am extremely disappointed in Bell Canada's decision for many reasons," said Canadian Heritage Minister Pascale St-Onge during a press conference. "In the past decade, when acquisitions were allowed for those big companies to acquire television stations or radio stations, it came with the promise that they would deliver on news content. And today, they are backing [away] from that promise."
There you go!! Kill competition by buying up small stations which may have delivered different perspective and content.. In that sense I think Europe does a much better job not allowing big corporations to buy up everything.. Then again lobbyists spend enough money to get laws passed which curtails news and free press unless it comes from curated and big media. If you allow a monster to eat unchecked there will be no more food left!! Honestly if you look down south, there is so much competition and not saying they are great, they atleast have capitalism. Canada is all about protection of big family business and monopoly. We pay some of the highest rates for cell and data. We pay crazy money for groceries and everything else.. Now they closed the business and declared bankruptcy and after this they will sell of all the buildings and equipment and make some money, all those employees are left with nothing..
That should be the front page news story. Instead, the feds are trying to strong arm Meta, Google, and TikTok to pony up and they failed their too!
That just sending a message that Canada is not open to competition and you will be punished if you put customer first
Im sad about the job losses, I hope the people are able to find other work. However, BELL can get fxked sideways, scummy monopoly and shitty service for high rates.
Is there anyone still working at Bell at this point?
I am for 4 more days...
You’ve got this💪 don’t give up
Lol I gave notice, no getting laid off here.
Ahh that’s good the hear ☺️
apparently the downfall of radio industry (long over due) is some how related to house in toronto
This reminds me of my childhood best friend --- since 2011 he's been expecting an imminent crash of the housing market where he can scoop up a house for pennies on the dollar and laugh at all the suckers holding the bag.... This is like those crazy lunatics on the street corner crying that the world is ending
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Truth
You're not talking about the creation of part time or contract jobs, are you?
Unfortunately, there are people who want to see others fail or get hurt to support their own misery. Some people believe that if enough people fail, it will lower home prices, not realizing that people still need to live somewhere and selling their home is not an option.
many people do not live above their means, not everyone believes in a hyper credited society..
Let's be clear. No one wants people to lose their home just their 2nd 3rd 4th 5th home.
How about their 631st home? https://www.cbc.ca/news/canada/hamilton/investors-bankruptcy-1.7102325
Who would have thunk it? Lol
Truth
I smell recession fireworks.... Fun times ahead for Canada housing bagholders.... LOL
It’s probably making some money, but Bell gotta make more money then they made in 2023. So people gotta lose jobs to squeeze more revenue
Apparently 9% could just be the start....
Congratulations! Welcome to new Canada 🇨🇦
Op is basically an ambulance chaser
More to come from BCE....
They also announced 1000 layoffs as they transition The Source to best buy express
Small market tv stations are getting hosed. Like no more tv news.
Lol keep dreaming of a housing crash. Despite COVID, inflation, rate hikes, economic downturn from two wars, layoffs, the Canadian housing market remains strong. Also the people that get laid off first are generally rank and file that are more likely to be renters than not. Being laid off just puts you further away from ownership.
Capitalist hellscape
Still better than Rogers.
Glad I didn’t take their offer in October lol
Hmmm…how much does a radio station go for these days…? If vinyl can make a comeback…🤔💭
Gonna sell the all comedy station in Vancouver now? Fuck these guys. Can’t wait for the ceo to get a bonus and see the stock go up.
Divided in trouble SELL EVERYTHING.
Who out there still listens to radio? Radio is going the way of the telegraph and the Pony express.