This is a community to discuss the housing crisis in Canada.
All so Canadians can find a decent home to live in.
Racism is still absolutely prohibited, but you are welcome to debate population growth, immigration rate, foreign home buyers, and the merits of single family homes or the green zone.
A merge of r/canadahousing and r/canadahousing2 for those coming from Reddit.
Bits of the sidebar and logo taken from those subs and will be going through a slight revision as things get settled.
Healthy markets clear
If sellers can't sell, the price is too high. A healthy market lowers the price until things sell. What we have is a group of people who have a set price they want, but they can't get it, so they refuse to sell. That is not a healthy market
What I'm surprised this article doesn't mention, is the prices are too high otherwise they would be selling.
Yeah, it's really bizarre that they mention "affordability"...but then blame it on high interest rates instead of ridiculously high prices.
Just looking at the site for a hot second, they stand to benefit greatly from increasing housing prices, and I highly doubt home builders would want to do anything to bring prices down where their bottom line is affected.
It's very strange.
Everyone is perfectly fine when it comes to equities selling at a loss, but perish the thought of homes coming down in price over what you originally bought it for.
When you can buy a literal European castle, have money to move and have some leftover just for the cost of a cookie cutter house than yeah house prices are way too fucking high and people shouldn’t and won’t be paying for them