sik0fewlWhy it might be several years before homes are more affordable in Canada
It may be several years yet before home prices fall back into an affordable range for the average Canadian, according to Oxford Economics.
Homes will never again be affordable because the system is completely broken (and not broken in the Millhouse expression, but rather in a normal definition). We made housing a commodity rather than a necessity of life and it ended with predictable results.
Now we have the unpleasant decision of diluting the investment of millions of Canadians or continuing to allow millions of Canadians to never own a home.
twistedtxbThe math is very simple:
There are more people wanting to buy a house than the number of houses available
Are you talking about Canada explicitly? Cause according to this article there’s about 28 vacant homes per every by homeless person (but this is for the US):
A home being vacant doesn’t mean it is available.
Take all the old, abandoned farmhouses around the country. The farmer isn’t about to sell you his farmland just because the house sits empty.