The standard home in Canada now costs twice as much as in the U.S

[eagle1462010]

From owning a $200,000 house on a $120,000 five acre lot, I woke up one day and found the system has made me a millionaire two times over!

Had I lived in Vancouver it would have been five times over!
I chose to live on Vancouver Island which is considered to be the best place to live on the continent. My neighbours who came later were millionaires before they even got here.

Same shit they said til the crash of 2008.

You got your scuba gear ready?

 

[MarathonMike]

That's true in part but it's a qualified truth for Vancouver.

Maybe we adhere too closely to the capitalist principle of 'supply and demand'?

Would you have any ideas for a solution to the problem of high real estate prices?

Say, something that wouldn't include any force?

Real estate is going up here in America too, just not to the extent of Canada. I guess you would have to look at the ties between the Canadian government and mortgages, building costs, raw materials and even health care.

 

[Donald H]

Real estate is going up here in America too, just not to the extent of Canada. I guess you would have to look at the ties between the Canadian government and mortgages, building costs, raw materials and even health care.

I don't know what you're trying to suggest.
Government in Canada does operate a mortgage scheme to help keep private mortgage companies under control. CMHC.

 

[MarathonMike]

I don't know what you're trying to suggest.
Government in Canada does operate a mortgage scheme to help keep private mortgage companies under control. CMHC.

I'm suggesting that the Canadian government might be subsidizing home loans to enable buyers to qualify for Jumbo mortgages that they would not be able to otherwise. I haven't researched it, just speculating.

 

[shockedcanadian]

We capitalists limit our interference with the laws of supply and demand. The interference with the market in Vancouver was only partially successful.

You're manufactured several deliberate lies in that statement but there's nothing worth arguing for me when you can't be truthful on the comparisons with the US.

Your hard-on for authority has destroyed your credibility.

Come to creepy Toronto where 70% of the tax revenue goes to the Toronto Police, ditto to a lesser degree across the province of Ontario without accountability or transparency (thanks to Ontario Police Services Act and creepy, donor politicians).