Quote:
Originally Posted by _Q_
I agree and you're proving my point.
If the average family can't realistically afford average things then that invalidates Weitz' argument.
The question is, though, is that ok? What does that say about our economy when regular stuff at average prices are now considered luxuries for the top earners?
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Your numbers gloss over a few things that cause problems.
One is that CMHC allows people to borrow themselves into being house poor. The first step to reducing housing prices is to make the borrowing limits tighter. Right now in Calgary the median family income supports the median house. That is very balanced.
The second issue is that as more people want to live in the same area you have to accept a smaller living space. Using the average dwelling and comparing it to 25 years ago doesn’t make sense without some sort of population adjustment.