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.
It is illegal to own another man it should be illegal to own another man’s home. CriminalizeRent collection on primary residences.
Canada’s a growing country and we have crappy municipal governments making rules that limit supply.
What we are looking at is a bubble forming just like 2007
I wonder do you guys have foreign corporations buying all your SF Homes too?