Quote:
Originally Posted by opendoor
And it's not like high construction levels prevented prices increases in the past. The first bubble on that chart I posted came after a decade where the housing stock increased by 35% (vs. a population increase of only 14%). Conversely, what many people now view as a golden age of affordability (90s and early '00s) coincided with a huge drop in housing construction.
|
It's almost as if supply and demand and prices is affected by economic recession, and when housing is 'affordable', people can't buy them because they are out of a job.
Rent and housing prices were down significantly in 2015-17 in Calgary.
A hard recession is really the main recipe to get affordable housing. Building more houses is a pretty vapid promise that would have to happen on a scale far greater than the federal government could realistically undertake.
The whole affordable housing pledge is a problem when real affordable means prices much come down hard, and 65.5% of Canadians are home owners.
It's just odd to see so much scrutiny for a party not in power and won't be for at least 1-2 years, while Liberals have campaigned and ran policies pledging affordable housing for 8 years yet their plans are never scrutinized.
The CPC plan isn't the answer, but at this point, does it matter? What we have now isn't working.
With TD missing earnings and announcing thousands of cuts with gloomy forecast, the start of could be a hard recession may be at its very preliminary stages.
The problem may fix itself and it's going to be bumpy.