Comments on: Canada Has The Biggest Gap Between Real Estate Prices and Incomes In The G7 https://betterdwelling.com/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7/ Canada’s Fastest Growing Real Estate News Source Wed, 15 Dec 2021 22:36:49 +0000 hourly 1 By: Mark https://betterdwelling.com/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7/#comment-77880 Wed, 15 Dec 2021 22:36:49 +0000 https://betterdwelling.com/?p=19080#comment-77880 You will own nothing and be happy.

]]> By: Liam https://betterdwelling.com/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7/#comment-77856 Wed, 15 Dec 2021 18:17:01 +0000 https://betterdwelling.com/?p=19080#comment-77856 In reply to J Bkool.

Doesn’t make sense, especially since population growth was null during the most recent data points, but nice try.

]]> By: Heather https://betterdwelling.com/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7/#comment-77829 Wed, 15 Dec 2021 07:17:40 +0000 https://betterdwelling.com/?p=19080#comment-77829 In reply to Omar.

I just finished reading it today. I know what you mean. I was walking through Metrotown and overhead a guy speaking Mandarine and first thought was “Is he doing a drug deal??” No, no, I am joking. But still. That book is giving me second thoughts about living in the Lower Mainland.

]]> By: Mike https://betterdwelling.com/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7/#comment-77819 Wed, 15 Dec 2021 03:10:54 +0000 https://betterdwelling.com/?p=19080#comment-77819 In reply to Mary.

I agree its depressing.. But its possible to get out from the place you are but you may need to find a different town, or space to live. Big pain – big gain.

I bought a crap townhouse in Sarnia Ontario south end, where I couldn’t sleep half the time because of flare stacks and shunting trains smashing together at 3AM. It was hard, but it ended up paying off very well. We are in a weird spot that there are jobs everywhere in towns and cities throughout Canada, many being quite affordable.

]]> By: J Bkool https://betterdwelling.com/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7/#comment-77816 Wed, 15 Dec 2021 01:26:33 +0000 https://betterdwelling.com/?p=19080#comment-77816 Very interesting article. Some cautionary notes. Averages for a country, especially in Canada are tricky. If we eliminate the greater GTA in Ontario, Montreal and the lower mainland in BC the numbers would be significantly different. Canada has greater growth in immigration per 100,000 population than any country in the world. We also occupy way more space per person than any country in the world.
I also suspect that the government take on a new house in Canada is also the highest in the world, but that is a pure guess.

]]> By: Mary https://betterdwelling.com/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7/#comment-77782 Tue, 14 Dec 2021 12:56:32 +0000 https://betterdwelling.com/?p=19080#comment-77782 My husband and I have been saving for a downpayment since 2016, just before we got married. Yet the market outpaces us every year. At this point it’s just depressing.

]]> By: Dennis_K https://betterdwelling.com/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7/#comment-77767 Tue, 14 Dec 2021 04:07:41 +0000 https://betterdwelling.com/?p=19080#comment-77767 I think this article, more so than any other on BD over the past year, really illustrates the question we should be asking, in terms of getting to the root cause(s) of housing affordability.

Why is it that prices that continue to march upward, when local incomes don’t support them? Sure, something can be popular or in high demand, but when people (who live and work in a place) don’t have the money to pay the price commanded, how can the prices stay that high (or even continue upward)? Where is the money coming from? Sure, housing prices can be higher for specific types of housing in specific geographic sub-regions, but how does this occur pan-nationally, almost completely out of line with median incomes?

I think that when we, as a country, decide to ask how all this money is available (whether legitimately earned or otherwise), only then can we begin the process of making (policy) changes that reverse the pricing trend, and get them back down to median affordability. After all, if we don’t, then my fear is that the amount of money left over to spend on other things (aside from getting tied up in a debt-bearing non-productive asset) is less and less, and that certainly would be bad for the economy (i.e. all of us).

]]> By: Gary https://betterdwelling.com/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7/#comment-77761 Mon, 13 Dec 2021 23:40:17 +0000 https://betterdwelling.com/?p=19080#comment-77761 In reply to Heather.

No, no! Don’t read that book! I just finished it and I am now having trouble sleeping, and having good thoughts about anything during the day!

]]> By: VNM https://betterdwelling.com/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7/#comment-77757 Mon, 13 Dec 2021 22:31:54 +0000 https://betterdwelling.com/?p=19080#comment-77757 Astonishing . And even with rents only half as elevated as here , Germany recently nationalized rents in Berlin to reduce prices.

]]> By: Jappan Singh https://betterdwelling.com/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7/#comment-77752 Mon, 13 Dec 2021 21:00:20 +0000 https://betterdwelling.com/?p=19080#comment-77752 Canada will also have the highest Mortgage Fraud and Money Laundering in the G7.

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