Ron Butler, a Canadian mortgage broker and commentator, has raised concerns on social media about government spending and the state of the Canadian real estate market. In a series of posts between March 27 and March 29, 2026, Butler addressed issues ranging from public sector inefficiency to challenges facing homebuyers.
On March 27, Butler criticized government expenditures on payroll systems: “Imagine Spending $10 BILLION On A Payroll System: First $6B On One That Never Worked & Now $4B On A Replacement Insane: Lighting Tax Payers Money ON FIRE Oh, did IBM who built the System that never worked even to this day get punished? Nope, just paid more to try to fix it”.
The following day, he commented on housing affordability in Canada: “Average Age Of First Time Home Buyers In Canada Is 40! WTF Have We Done To Ourselves? In the 1990’s the Average Age was 27 If you go back in time it’s even slightly lower If you take house prices from 2.5X Average Family Income to 9X or 10X this is the result” (March 28).
On March 29, Butler questioned long-standing beliefs about real estate investment in Ontario and Toronto: “Remember the absolutely unshakable refrain – Toronto is a World City – Ontario Real Estate NEVER goes down – BRRRR – Buying Investment RE is a sure thing – Just buy as many houses as possible Now: 38% Fucked And RE prices are STILL falling”.
Butler’s comments reflect ongoing debates in Canada regarding both public sector technology procurement and housing affordability. The Phoenix pay system project referenced by Butler was a federal payroll modernization initiative that experienced significant cost overruns and technical failures after its launch in 2016. IBM was contracted for its development; despite widespread criticism over persistent problems with employee paychecks, no substantial penalties were imposed on the company for these failures.
Housing affordability has also become an increasing concern across Canada. Over recent decades, average home prices have risen much faster than incomes, resulting in higher barriers for first-time buyers. According to national statistics agencies and independent analyses, whereas home prices once averaged roughly two-and-a-half times family income in previous decades, ratios have climbed closer to ten times income in major cities like Toronto and Vancouver.
The belief that Canadian real estate values would perpetually rise has been challenged by recent market corrections. Data from late 2025 into early 2026 show declining property values in several regions of Ontario—a reversal from previous years when double-digit price increases were common.
Butler’s posts contribute to broader conversations about accountability for large-scale government projects and growing concerns about housing access for younger Canadians.
