Trudeau takes first step to break Canada’s addiction to rising home prices
www.theglobeandmail.com
It is rare for senior Canadian politicians to admit that home prices will need to stall if we actually care about affordability

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.

    • Someone
      8·
      1 year ago

      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.

      Price growth has remained solid in Quebec and the East Coast, followed by British Columbia and the Prairies. Ontario is now a mixed bag, still with some of the bigger increases but also some of the bigger declines.

      That sounds to me like the only area where prices aren’t still growing are parts of Ontario and maybe the territories.

        • Someone
          2·
          1 year ago

          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.