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.
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
The Calgary Herald recently did a series on the local version of the aging suburban middle many North American cities seem to feature. We are quite happy to report that life in Calgary’s catabolic pastry is definitely not all bad news.
Babin: how one community in Calgary’s “doughnut of decline” is managing its rebirth
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
The state of things in greater Chicago remains difficult, uneven. Years after the mortgage meltdown recovery is yet to appear in many a neighbourhood.
Seven years after the Great Recession, some Chicago suburbs may never recover
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
” …it wouldn’t take much to send a place like this over the edge.”
Cul-de-sac entropy. Just as places like greater Toronto boom onward many other places in North America seem to have just built themselves straight into that entropy. Wishes made real and intentions revealed empty at the very same time in Southwest Florida.
See also: (441) Zombie subdivisions
And, by extension, the Canadian Dream…
image: A. Currell via Flickr/CC