Quote:
Originally Posted by corporatejay
Immigration is just one of many factors but definitely a big one. Where else would increased housing demand come from? We have a very low birthrate.
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The more money chasing the same goods, the higher the prices. So lower interest rates, an increasing number of property investors, and generally more money flowing around can spur demand and drive prices on its own.
Though as I point out above, price growth in the last half decade has been very modest by historical standards. Most of the recent growth happened between 2003-2008 and 2013-2018 which certainly wasn't driven by population growth.