10-13-2022, 10:53 AM
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#484
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First Line Centre
Join Date: Feb 2010
Location: Mckenzie Towne
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Quote:
Originally Posted by Azure
My original question was also ignored.
Do people honestly believe Toronto & Vancouver housing prices were driven by actual demand and not external shady circumstances?
Why is Vancouver SO much higher than Montreal? Calgary? And why has it been higher for so much longer than other cities in Canada? Where is the money coming from that is driving that insane demand?
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https://www.mpamag.com/ca/business-n...A-DB3FF4CE2FC9
Quote:
For 13 years straight, urban consultancy Demographia has named it the continent’s most expensive place for housing. The cost of owning a home in Vancouver, including interest payments on a mortgage, now sits at a staggering 90% of the city’s median income, according to the Royal Bank of Canada. Yet officials and experts couldn’t agree on the cause, let alone a solution.
Until now.
Suddenly, out of a municipal election, a consensus is forming: housing isn't expensive because of foreign money sloshing into the city. The problem is simply that there aren't enough homes. The answer: rezone and build more.
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