Tight supply, low borrowing costs and pandemic-inspired demand for larger homes in both countries have prompted bidding wars, offers six figures above asking price, and a record surge in overall home values — the U.S. last week reported a record median gain of 16.2 per cent in the first three months of the year.
The report found some notable differences between the two housing markets that may partly explain Canada’s hypergrowth.Article content Population expansion has been faster in Canada than in the U.S., for example, particularly in the three-year period before the pandemic when Prime Minister Justin Trudeau increased immigration just as the U.S. under President Donald Trump was throwing up barriers to entry. Canadians also escaped the 2008 financial crisis without much loss to their home values — registering a 0.5 per cent decline compared with 12 per cent in the U.S.
'Hot' fails to impart the fact chronic demand/supply imbalance in housing has created a crisis where a basic necessity of life - housing,is increasingly unaffordable or unavailable for millions of Canadians. Worse, governments shrug at it or institute ineffective1/4- measures
HousingCrisis ClimateCrisis
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How the Canada Emergency Wage Subsidy program helped big businessHow did big companies that had a great 2020 overall end up qualifying for millions of taxpayer dollars from the CEWS program? VanmalaS talks to anima_tk about how much relief money went to companies that ended up profiting during a pandemic year. Listen to today’s episode of The Decibel wherever you get your podcasts: ▫ Apple Podcasts: ▫ Spotify: ▫ Google Podcasts: VanmalaS anima_tk If these companies had any conscience they would repay it. Most won’t and some like LinamarCorp are big PC donors and during the next election will complain about the deficit. VanmalaS anima_tk I don’t care HOW it happened, I want to know what the Feds are going to do about it?
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