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submitted 1 year ago by sik0fewl@kbin.social to c/canada@lemmy.ca

It may be several years yet before home prices fall back into an affordable range for the average Canadian, according to Oxford Economics.

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[-] psvrh@lemmy.ca 11 points 1 year ago

It won't last. Various "armpit" towns throughout Ontario are now unaffordable. North Bay, Timming, Peterborough, Thunder Bay: all of them were cheap, and fell to investor speculation-based increases.

I'd encourage other provinces to preemptively smack down speculation hard, now, before the problem metastasizes. Don't wait until GTA or GVA property investors have played Monopoly in your small town; do it now, even if it offends a few established property owners.

this post was submitted on 11 Aug 2023
90 points (97.9% liked)

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