And this is how corrections happen. Houses and really anything are only worth what someone can/ will pay for it. If people are priced out then prices will have to adjust as inventory grows.Â
Automatic-Bake9847 on
By the time we hit 43 million people (around 2025) we will be around 20 years worth of housing supply short of where CMHC thinks we need to be to restore affordability to the market.
So, yeah, this is a decade at the very least to address. In reality we will possibly not even hit the worst of the supply imbalance in a decade.
akd432 on
For the housing crisis to be addressed the price of existing homes have to drop by 50%. No politician (federal, provincial or municipal) will ever allow that to happen.
We are just going to have to accept that the housing crisis is permanent. It is what it is 😄
Conscious_Candle2598 on
Never mind houses, our infrastructure can even handle the influx of people.
schools, healthcare.. Hell you can’t even take a detour on the back road without passing traffic.Â
And you can certainly tell it’s taking a toll on Canadian citizens, Because we are a sure angry bunch now.
How the hell did we get this horrible..
UltraManga85 on
the rich have stolen 3 generations worth of prosperity from everyone else.
Captain-McSizzle on
Building a society that has its “wealth” locked in a non-liquid asset and not able to participate in the economy seems due for a rethink.
Superb-Respect-1313 on
Sadly the housing affordability isn’t going to change for quite awhile no matter what our politicians tell us. We aren’t building enough of them to effect supply!!!!
divvyinvestor on
Even prices in California don’t seem so extreme.
9 Comments
And this is how corrections happen. Houses and really anything are only worth what someone can/ will pay for it. If people are priced out then prices will have to adjust as inventory grows.Â
By the time we hit 43 million people (around 2025) we will be around 20 years worth of housing supply short of where CMHC thinks we need to be to restore affordability to the market.
So, yeah, this is a decade at the very least to address. In reality we will possibly not even hit the worst of the supply imbalance in a decade.
For the housing crisis to be addressed the price of existing homes have to drop by 50%. No politician (federal, provincial or municipal) will ever allow that to happen.
We are just going to have to accept that the housing crisis is permanent. It is what it is 😄
Never mind houses, our infrastructure can even handle the influx of people.
schools, healthcare.. Hell you can’t even take a detour on the back road without passing traffic.Â
And you can certainly tell it’s taking a toll on Canadian citizens, Because we are a sure angry bunch now.
How the hell did we get this horrible..
the rich have stolen 3 generations worth of prosperity from everyone else.
Building a society that has its “wealth” locked in a non-liquid asset and not able to participate in the economy seems due for a rethink.
Sadly the housing affordability isn’t going to change for quite awhile no matter what our politicians tell us. We aren’t building enough of them to effect supply!!!!
Even prices in California don’t seem so extreme.
Wow thanks CBC for this breaking news.Â