The expected rise in Canada’s population is likely to make the country’s limited housing supply worse – and ultimately lead to even higher home prices, a report by Zoocasa forecasted.
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It’s going to get worse before it gets better. Far too many people, especially the elderly, are using their property as their major investment or store of value. This means if housing prices crash, this potentially throws them into poverty. About the only compromise here is to try to build enough homes such that the housing prices plateau for a long enough time for wages to ‘catch up.’ Though, even this compromise might be too far gone now.