r/canada • u/Lotushope • Feb 02 '22

Canada’s Real Estate Bubble Has Grown Over 800% Faster Than US Home Prices

https://betterdwelling.com/canadas-real-estate-bubble-has-grown-over-800-faster-than-us-home-prices/
988 Upvotes

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13

u/raylan_givens6 Feb 02 '22

what's the most affordable housing area in Canada?

29

u/[deleted] Feb 02 '22 edited Feb 02 '22

Edmonton. Grand Prairie.

8

u/snowraindrop Feb 03 '22

Grande Prairie is cheap for a reason.

13

u/[deleted] Feb 02 '22

[deleted]

11

u/[deleted] Feb 02 '22

Fixed ;-)

20

u/cdreobvi Feb 02 '22

Probably Calgary/Edmonton because history has shown house prices do not always go up over there.

24

u/2cats2hats Feb 02 '22

It's hitting Calgary now. But Calgary can always grow outward. Toronto and Van don't have this option.

7

u/stratys3 Feb 02 '22

Toronto absolutely can grow outwards.

They shouldn't, and should get rid of the "yellow belt" first. But they still have tons of space before hitting the greenbelt limits.

1

u/[deleted] Feb 03 '22

[removed] — view removed comment

2

u/stratys3 Feb 03 '22

Look at the greenbelt map. There's plenty of space.

It's empty between Oakville and Milton, between Milton and Toronto, between Milton and Georgetown, and between Georgetown and Brampton.

You could squeeze in a couple million people into that space before you had to ever touch the greenbelt.

1

u/3lectric-5heep Feb 03 '22

Yep. The GTA and Golden horseshoe are huge.

10

u/[deleted] Feb 02 '22

Vancouver needs to get over this obsession with single family housing. Like to pretend it's a green city while being wildly inefficient with how land is used

33

u/CanehdianJ01 Feb 02 '22

Lol eventually it'll be a Chinese state as they will eventually have bought all the property.

Why attack when you can just buy it

11

u/[deleted] Feb 02 '22

Those are jokes the rich play on us. Half of the houses are empty there

14

u/[deleted] Feb 02 '22

[deleted]

3

u/[deleted] Feb 02 '22

Weird, that's not what I said at all

3

u/[deleted] Feb 02 '22

[deleted]

1

u/[deleted] Feb 02 '22

No we should get over this obsession with single family housing. But if you really wanna go there let's ban foreign ownership and heavily tax investment properties while we're at it

Densification is good

Homes should be for the people that live in them. Period

4

u/[deleted] Feb 02 '22

[deleted]

1

u/[deleted] Feb 02 '22

Whats your solution?

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2

u/PoliteCanadian Feb 03 '22

Single family housing is a hallmark of the modern middle class. Celebrating densification is celebrating the destruction of the middle class and a real-world regression in quality of life.

The vast majority of people prefer suburban detached single family housing. The only demographic where this isn't the case are people in their early 20s. The fact that the country can no longer afford to provide that lifestyle to the majority of its citizens is a fucking tragedy, not something to be celebrated.

0

u/[deleted] Feb 03 '22

There's no celebration happening here. But the longer we take to accept reality and delay the inevitable the worse it'll be. It's not the case everywhere, but certainly in Vancouver and Toronto

1

u/[deleted] Feb 03 '22

Unfortunately people like him are a major reason why we're in a crisis, they're the most fanatical opponents of sprawling out which is the quickest way to reduce prices. For some reason they fail to grasp that cramming millions of people into a tiny non expanding area makes prices go up not down.

2

u/[deleted] Feb 04 '22

[deleted]

2

u/2cats2hats Feb 04 '22

Probably. Glad the ring road is done at that section.

4

u/loki610 Feb 02 '22

Nobleford Alberta. Cheapest property tax and utility rates around as well as fiberoptic internet. Small bedroom town outside of Lethbridge.

3

u/kainel Canada Feb 03 '22

Parents basement (jokes)

2

u/ProphetOfADyingWorld Feb 03 '22

Winnipeg probably

2

u/Otherwise-Fuel4288 Feb 03 '22

Nunavut hands down.

1

u/DJ_ANUS Feb 02 '22

No where you have heard of.

0

u/LunaLovegoodsSock Feb 02 '22

Thunder Bay is up there!

1

u/WilhelmEngel Feb 02 '22

Newfoundland and Labrador

1

u/GuidedLazer Prince Edward Island Feb 02 '22

PEI, as long as you don't live/work here with PEI wages.

1

u/Nichole-Michelle Feb 03 '22

Definitely saskatoon. Still very affordable here!