First of all, they talk about a tumbling housing market as if it's a BAD thing. No no, we need the average house to be over a million dollars because of reasons. Second, when the Canadian housing market is open to the world (read: China,) then there's no perceivable end to the bubble.
The big problem is that it’s a huge chunk of our gdp and the only part that’s really growing. If (when?) it crashes it will cascade through other industries. It could impact our dollar value. We’ve kneecapped our natural resource industries and tech hasn’t grown here.
Now, will it crash? Our government does everything it can to bring new buyers into the country and enable overseas buyers to participate in the market. I’m not sure this will ever change.
How is it ever going to go down when we are letting half a million people into the country every year and allowing foreigners to buy property? Supply and demand.
The housing bubble has been on the verge of popping for a decade
First of all, they talk about a tumbling housing market as if it's a BAD thing. No no, we need the average house to be over a million dollars because of reasons. Second, when the Canadian housing market is open to the world (read: China,) then there's no perceivable end to the bubble.
The big problem is that it’s a huge chunk of our gdp and the only part that’s really growing. If (when?) it crashes it will cascade through other industries. It could impact our dollar value. We’ve kneecapped our natural resource industries and tech hasn’t grown here.
Now, will it crash? Our government does everything it can to bring new buyers into the country and enable overseas buyers to participate in the market. I’m not sure this will ever change.
How is it ever going to go down when we are letting half a million people into the country every year and allowing foreigners to buy property? Supply and demand.
It’s going to correct yeah but , hyperinflation will be something that will have to be allowed to happen if it does. Don’t be a doomer