The 47 per cent rise in the national average resale home price over the past two years results from a mismatch of supply and demand.
The chart shows that Canada’s supply of houses is a bit below the average for countries in the Organization for Economic Co-operation and Development , but in line with the U.K., the United States, Australia and New Zealand.” Yes, we should do all we can to encourage supply,” BMO chief economist Douglas Porter wrote. “But clearly there is more at work here than that.”
It’s government, it’s realtors, it’s lenders, it’s investors, it’s the Bank of Canada for keeping interest rates low for so long. All of these players and more were blamed in the Twitter exchange, and all do bear some responsibility because the decline of housing affordability is a huge and complex problem.
A monetary policy that penalizes savings and rewards debt-fueled speculation as a means for economic growth.
False Values... valued based of bs... instead of reality of time used/needed to replace/renew inputs.
People continually reaching beyond their limit of ever being able to afford their abode. Guess we ALL did the SAME ----------huh .
This song no longer need apply - And most Canadians are weak and stupid .. Most don't know this entire song..( somewhat older version as well ) Most don't know- don't care- and still say WE ARE GREAT ! WE ARE 3RD WORLD NATION WITH DEBT AND OIL..NOTHING MORE HARD WORK MATTERS
I've been shocked by Ontario home prices for over a decade.