A house used to cost three to four times an average annual salary, but now it's more like 20 times.
There is little doubt that Canada has a housing affordability crisis. And there is little doubt this will be a major topic of concern during upcoming elections.I would respectfully suggest the present housing crisis is not the fault of any government – municipal, provincial, or federal. Perhaps more to the point, it is not associated with any particular political party.
Similar arguments can be made at the federal level where we have seen Conservative and Liberal governments have very little influence on the price of housing in this country. But somebody must be at fault, you might say. Not really. Certainly not the developers who are trying to make a living. Nor the homeowners who are selling their properties at whatever the market will bear knowing that they need to find housing elsewhere. Nor the immigrants moving to Canada for a better life.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Polling Analyst Nate Silver Not Buying Kamala Hype, Says Trump Remains Favorite to Win in 2024'His election forecast model gives Trump a 61.3% chance of prevailing in the Electoral College, while Vice President Kamala Harris is at 38.1%.'
Read more »
Surge in Foreign Buying Drove China Stocks’ Best Day in Months(Bloomberg) -- Global funds snapped up $2.7 billion worth of Chinese stocks on Wednesday, a sudden comeback that helped drive the best rally in more than...
Read more »
Musk's xAI considers buying Character.AI, The Information reportsElon Musk's artificial intelligence startup xAI has considered acquiring chatbot startup Character.AI as it looks for more ways to test its Grok AI models...
Read more »
JetBlue posts surprise profit, delays buying $3 billion worth of Airbus planesThe New York-based carrier has been grappling with higher operating costs as inspections of Pratt & Whitney's Geared Turbofan engines have led to the...
Read more »
Ontario buying helicopters to help police address auto thefts in Ottawa, TorontoThe Ontario government is spending $134 million to purchase five new helicopters for use in the Greater Toronto Area and Ottawa. As part of the new Joint Air Support Unit, Ontario Provincial Police will acquire two new H135 helicopters to provide support to police in Ottawa and Toronto in dealing with auto thefts.
Read more »
BOJ Set to Cut Bond Buying as Fate of Rate Policy Stirs Jitters(Bloomberg) -- Bank of Japan Governor Kazuo Ueda will have investors on high alert Wednesday when he lays out a detailed plan for quantitative tightening...
Read more »