Quote:
Originally Posted by belsarius
And I did point out that I was not considering rentals which I have no doubt is affected by immigration, but Azure's post was pretty pointed at cost of purchasing and how people have been buying and selling houses for years and the "real problem" was immigration.
I think Harry Lime just made a good point about simplifying. The cost of home purchases is caused more by interest rates and excess cash than immigration. Rental pricing probably has a large correlation to immigration (as I stated I didn't go into that), but also has the component of increased housing purchasing costs being passed along to renters. Its all part of a very complex interconnected system.
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Do you (and others) think that the price of housing is driven up by the cost to rent, or is the cost to rent driven up by higher housing prices? Sort of a chicken or egg question.