Canadians love to talk about real estate, and it’s become a hot topic on the campaign trail, with the Liberals and the Conservatives both promising to make it easier for people to buy a home.
If you have any questions about the show, or if there are topics you want us to tackle, email us: downtobusiness@postmedia.com.Emily Jackson: You are the homebuilding guy, 40-year career in this. I’ve got to wonder what is your view on the housing market in Canada right now? EJ: I think that insanity it felt like in the prices has been such a story. For the younger generations, house prices to income ratios are about 10 to one now compared to the 1970s. They were about four to one correct. That makes it you know, it makes it pretty challenging to buy a home here in in Canada’s biggest cities, at least.
EJ: In a sense of getting them more supply. Is this kind of an opposition to more density? Is that the solution you’re talking about here? EJ: It’s that the short term need to please the people that are voting you in tomorrow, I suppose. What do you think, though, politicians always tend to talk about homeownership in a in a bigger way, you know, it’s still two thirds of Canadian households own their home. It is still pitched as this goal, even though it seems to be getting increasingly out of reach for the younger generation specifically.
EJ: Yeah, I think I think it’s good to talk about I mean, Toronto, Vancouver, Montreal. Two thirds of Canadians live in those three cities. All three cities are constrained by water.EJ: Peter Gilligan says to fill in Lake Ontario, everyone breaking news on the pod. But I think in those markets, where people are moving and are living, I think that that that will be an interesting place to focus on on how you see the trends of homeownership progressing there.
EJ: I think it’s it will be an interesting conversation that shakes out in these big cities, as more and more people are coming here, you know, we’re expected to add.
theemilyjackson Mattamy owes over $2 billion in debt, as per his last interview. Diversifying because he's always had in itch to do so? lol, ya right. Creditor Wolves closing in. He's smart to be making his moves now.
theemilyjackson Don't kid yourself. Peter is diversifying because he's involved with some terrible markets that can take down his entire empire, particularly the USA and Calgary markets. Good luck, Peter.
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