Just a slight shift in perspective yields much insight. Problems, problems Canada? Hot Chinese real estate money and bottomed-out oil prices bringing you down, or bringing you over the border to shop your brains out?
All economies are suburban now.
Canada’s economic crunch and Western New York
Nobody 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
Intensification nation. Canadian cities, big and small, are working to densify themselves. It’s far from a straightforward path
image: Bill Ward via Flickr/CC
York Region continues to find itself beset by a growing economic precariousness according to United Way findings from last year updated this week. Most of us still consider York Region well off but some forty percent of jobs there are weakly held ones that don’t pay enough.
Linkage via this United Way blog page: imagineacity.ca
According to this piece, it’s pretty much all over for the suburban office parks of North America. We’re looking at “…a shift to a more European model, of fantastically wealthy cities and increasingly slummy suburbs,” says the author. Ouch!
This is how the suburbs die
Fairfax County, Virginia is probably still a great place to be a loaded, property-owning American. But, it does sound like it just isn’t quite what it used to be financially, or otherwise, and in that it seems to point to the trend for most of the country’s aging suburbs.
This model of wealthy suburban living is starting to fray
A strong piece in The Guardian asks readers to consider an underassessed socio-economic group. Please recommend this one to others trying to understand Donald Trump and the politics of decline and social disaster in the United States. Millions have fallen from a racial/class group that was once a staple presence in American politics into the kind of social difficulty known by millions of African Americans.
Canadians, you may include this on a reading list, one that aims to help you understand Ford Nation (and you maybe best get moving on that shit, folks).
image: Andrew via Flickr/CC