Tristin Hopper: The number one reason you will never be able to afford a house in Canada
If you are a Canadian, you live in a country that is technically big enough to give you 68 acres of land to yourself. That’s big enough to fit roughly two thirds of Disneyland. On top of that, if you neatly divided up all Canada’s forests, we’d have aboutGiven this, you would assume we would all have our own personal longhouse. Instead, we Canadians are in the ironic situation of living in one of the most unaffordable countries for real estate on the entire planet.
But if I was to pick one overarching reason why you can’t afford a house in 21st Century Canada, it would be this: There is an entire latticework of laws in this country to artificially constrict the supply of homes and make it illegal for you to build a reasonable place to live., the city where a dilapidated shed will cost you $300,000. All those yellow parts are where it’s illegal to build anything more dense than a duplex.
The Americans have this problem as well. Here’s an overhead view of San Francisco, one of the most insanely overpriced housing markets in the entire world. Despite effectively becoming the world capital of the tech industry and adding one million residents since the 1980s, most of San Francisco remains, by law, a low-density suburb.
But oops, it turns out the neighbourhood association doesn’t want any of those things so … I guess you’re out of luck, Everyone-Who-Wasn’t-Here-Prior-to-1980.
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