At last, someone from the world of politics is being honest about a pervasive and harmful trade-off. When home prices rise faster than earnings, owners like me gain wealth, while non-owners lose because their incomes fall further behind housing costs.
Honesty is saying that home prices have to fall. But this is progress.
The Generation Squeeze folks have recommendations.
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Did you even read your own link? Besides sales dropping 4% (which it says was expected due to the rate hikes) every other stat they listed was up year-over-year or month-over-month.
That sounds to me like the only area where prices aren’t still growing are parts of Ontario and maybe the territories.
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I think you could argue that the market is slowing or declining, I disagree now but I could be swayed.
Saying the market is crashing though is like saying you crashed your car when you hit a pothole. Sure, if you look at a big car crash in the past someone may have blown a tire in a pothole before causing a pileup, but millions of people hit potholes every day and most are nothing more than a momentary slowdown.
I’m not saying a housing crash couldn’t be coming, but it’s unreasonable to infer that one is happening based on the data you showed.