(1005) Housing picture

red houseNobody seems to be an expert when it comes to calling the relative burstiness of Canada’s housing bubble.  And what a bubble it’s been!  Pretty much all of us can agree, however, that the bubble has a harmful side now.  The cost of acquiring and carrying real estate departed the company of Canadian wages a generation ago in Toronto and Vancouver.  Rents have been forced up by the bubble, reinforcing the generalized prejudice of not owning what you live in. Overseas investors are amping up prices and eating supply.  What is to be done?  Some of us remain partial to real estate as a money machine and others are fed up with a machine that seems to exclude them.
Canada’s economy is hostage to the housing bubble. The debate over B.C.’s new tax on foreign buyers exposes how badly the Canadian economy needs ridiculously unsustainable house prices to keep rising
macleans.ca
Jean Swanson: Vancouver’s focus on home ownership neglects plight of the homeless
rabble.ca
Intensification nation. Canadian cities, big and small, are working to densify themselves. It’s far from a straightforward path
corporateknights.com

image: Bill Ward via Flickr/CC