What rarely gets discussed in articles about Canada's real estate, is that governments have abdicated their role in providing housing for Canadians. Today, in Canada, the public sector has shrunk to 5% of housing creation, whereas in many European countries, the public sector accounts for 20%.
Canadian households have lost billions in real estate cool-down
https://www.cbc.ca/news/business/armstrong-housing-real-estate-1.6584400
No matter what it seems many people want to live in my area. In 2021 my house assessment rose 39%. If it drops 20% this year it will not help the affordability problem on bit.
Central banks are applying ‘shock therapy’ to quell rising global inflation
The reality is that central banks cannot control inflation rates with monetary policy, especially when it is supply-driven
https://canadiandimension.com/articles/view/central-banks-are-applying-s...
Home is where the community is:
Housing as a human right
https://rabble.ca/podcast/home-is-where-the-community-is-homelessness-ho...
The real estate industry exists for one reason, and for one reason only: to sell you real estate and make tons of $ in the process. Anything that deviates from that message, is strictly a smokescreen.
https://www.cbc.ca/news/business/marketplace-mortgage-fraud-1.6614132
There is basically only one hope for adequate housing in Canada, but it would require a seismic change. It would involve our governments moving into public housing in a big way, and right now most, if not all our governments, are moving towards more privatization in housing.
Working class Canadians are basically screwed if their dream is to get adequate housing at a reasonable price. Too bad!
Never mind the bullshit from Canada's real estate industry, as housing prices have now entered a bear market, according to Bank of Nova Scotia economists.
