Quote:
Originally Posted by blankall
No one is saying that it should be easy to buy property. However, by all metrics it's become much harder for young people to buy property now than it was in the 70s. If it was hard then, imagine what it's like now.
The culprits include:
1. Archaic and NIMBY inspired zoning laws.
2. Stagnating wages.
3. Increased costs of living.
4. Low interest rates.
5. Uncontrolled foreign investment.
We all know what inflation is. The issue is that purchasing power has decreased relative to inflation, due to stagnating wages. There is also a major gap opening up between lower and higher end wages.
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Well, you can still purchase a multi-family unit fairly cheaply in Calgary. There's a lot of supply. No, you might not get your dream SFH. But you know, the policy of the city for quite a while now has been to price out new SFH development. Which of course raises existing SFH pricing.
No, you don't have a "right" to a SFH. No, you don't automatically "deserve" one.
BTW, all those things you mentioned (except #2)? They all contribute to asset inflation...
Oh yeah, the cost of living always goes up. For fark's sake, you guys keep electing politicians that keep raising fees and taxes, what did you expect? Is your garbage being picked up better? Your water bill has gone up 100% because the city can't build a treatment plant on budget. * shrug *, right?