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Originally Posted by Azure
Perhaps there is a reason we have two outliers in one country?
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Frankfurt and Munich are #2 and #4.
Zurich and Geneva are both on the list...
Quote:
Originally Posted by blankall
You are incorrect about housing being factored into inflation. However you are correct about affordability.
The lack of affordability is being driven by increasing population and lack of supply. Baby boomers aren't leaving their larger houses, millennials are the biggest cohort ever, Canada is adding 400k immigrants per year, housing expansion and densification is abysmal. On top of that he pandemic further delayed building.
Canada has the lowest number of houses per capita in the G7 and one of the highest birth and immigration rates. Canada also has by far the lowest population density in the G7, so it's actually impressive how effective our red tape has been at destroying people's lives and denying them a basic right.
With a housing shortage, no matter how they manipulate rates or inflation, it will always become increasingly unaffordable. We might see some price drops, but only because mortgage payments have increased. The idea that you can make housing affordable via increasing interest rates is absurd. In fact that only helps people with large amounts of capital.
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You must be talking about # of homes? I find it hard to believe that Japan or any of the Euro countries have a higher per capita number of SDDs (though TBH I have not searched the numbers).
So moving to the second bolded, could the issue be more rooted in our definition of 'basic housing' being a 1600 sq ft house compared to an 800 sq ft apartment in the G7 nations outside of NA?
I don't know enough about living in Europe beyond traveling and using a fair number of airbnbs, but even their 800 sq ft units seem far more economical than our 800 sq ft condos...old buildings, no big balconies, no/small parkades, no/small courtyards, no gym rooms, etc