Comments on: Canadian Housing Investment Is Correcting At The Fastest Rate Since The 80s Bubble Pop

By: Radu

Radu — Tue, 12 Sep 2023 00:14:35 +0000

In any growing economy in the world you have the average house price track average income of one person with a multiplier of 6x. So if in a particular city average Joe/Joanne makes 60k then then average home should cost 360k. What this does is increase natural population growth and therefore economic growth. We are currently in Canada still on average making 60k but housing is 12x-14x average income. So to get back to that sweet spot, both man and woman must work = 0 kids, no pets = overcrowded shelters, no new cars = 50k people out of jobs. So government imports new people, but they get here and can’t afford, nobody is building new rentals, not at reasonable prices, so you will have a generation of haves and have nots. The haves will be people that own a home bought pre 2018, or rented pre 2018, have nots are anyone after. This is not sustainable, unless we start to earn 2x more or housing drops by 50%…Like just think about it, our property prices are exceeding Manhattan or Beverly Hills, the world is a big place, why would you live in Vancouver over Malibu???

By: American Home Buy

American Home Buy — Mon, 11 Sep 2023 13:40:02 +0000

WHEN A MILLION DOLLARS IN THE USA BUYS 20-50 HOMES ON LOTS CANADA IS DOOMED.

By: Chris

Chris — Sun, 10 Sep 2023 22:22:32 +0000

In reply to T Short. New York just basically banned AirBnb / short term rentals, did it not? QC put controls on it, but there's no enforcement. Tight restrictions to eliminate the Airbnb business model will free up a ton of property and encourage competition with long term rentals. We as a society need to get that on the docket. Pronto.

By: Reece

Reece — Sun, 10 Sep 2023 18:41:15 +0000

In reply to Prairieboy43. Until it affects their house price! I just had to deal with a boomer rolling up their sleeves to do their part in intergenerational theft. Walked away from that person quick smart - the greed was unbelievable!

By: Frank

Frank — Sun, 10 Sep 2023 16:27:43 +0000

Building materials are up over 10% since January. Contracts are being cancelled by both builders and buyers. Not to mention taxes, permits add 1/3 to the final cost. Someone mentioned 50-100 year mortgages. Intergenerational mortgages are not uncommon in Europe. As much as some would like to see a crash, there is still a housing shortage. If there is a crash, thise wanting to get in will find they are being outbid..by the very investors that orchestrated this entire fiaaco.

By: Kristy the Clown

Kristy the Clown — Sun, 10 Sep 2023 13:31:16 +0000

In reply to Master Carpenter.

Smart decision. Now invest that somewhere safe. GIC etc. We are just starting to see the problems in Canada. People are not looking at the bigger picture, this all began in the era of Allan Greenspan’s “new monetary policy” , the only thing Canada did to save itself was not allow sub prime mortgages….. but guess what are the fastest growing sector of mortgages in Canada right now? “Did you know that 12% of Canadians are subprime borrowers?”. And growing.

By: T Short

T Short — Sat, 09 Sep 2023 19:41:58 +0000

What about the hundreds of thousands homes across the country that are being used only as a hotel (air BNB). Make those available for families to live. Investors will sell them and that flood of housing would help correct the prices. All without breaking ground for a new development.

By: Paul Kett

Paul Kett — Fri, 08 Sep 2023 00:43:33 +0000

In reply to Omar. Housing prices in Canada and in Toronto in particular are stupidly incredibly high. A lot of people don't want to think about it but there is a big correction coming my friends.

By: yaya

yaya — Wed, 06 Sep 2023 21:51:00 +0000

In reply to Yacoob Bayat. big brain, $250k wont even get you materials to build, nevermind the labour and permit costs. Build a 4 bedroom house in Vancouver costs $1M. The land cost is totally different. West side $4M, East side $1M, waterfront +$10M

By: Ryan Ethier

Ryan Ethier — Wed, 06 Sep 2023 18:39:54 +0000

In reply to Bruno. A friend of mine just returned from a visit to old friends in the Montreal area.He really noticed just how socialist people are.Quebec snd Toronto are a different breed.Go North of Toronto to find real people.