Canada’s rate of housing prices increase is far more than any other developed market in the world and has given rise to a new economic term to describe the market: ‘shelter inflation.’
As Doyle explains, and as the charts above illustrate, incomes and housing prices in Canada and the United States have kept a fairly similar pace throughout the decades since the 1970s, and stayed in lockstep until late in the 2000s. As Doyle explains, the crash of 2008/09 had a big impact on American investor psychology. “In the U.S., they don’t see housing as a safe asset.
His concern is what happens into 2023 and beyond, once interest rates start climbing. People who bought homes at market peaks in 2019-2020 will then be facing mortgage renewals at higher rates.
I Agree to disagree. i.) replacement cost from earth to roof(materials labour ( inflation) ii.) Gov. debt cripples chances of radical interest rate moves. iii.) The rapid death of purchasing power for the dollar( fed. printing presses( global) iv.)supply / demand for units.
Don't worry, Justin is on it!
Indications that you need to modernize & correct your financial & economic system. Gepsd has great strategies.
All bubbles are not the same. This particular one is kept inflated by the government. Their monetary philosophy of print and borrow can sustain this bubble for longer then one would think.
For the people who say “it’s like this everywhere right now” - let’s compare it to the US:
Hope you don't have bank insurance.
Money printing made the credit cheap and mass migration have it the demand, boomers house values go up while life becomes unaffordable for the working class and poor