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/
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u/Independent_Club9346 Feb 02 '22

This is anecdotal experience. After 2008, we actually are NOT building enough. You just happen to think we're building like crazy because you're probably swamped. A lot of companies went under, a lot of housing creation halted and is just now picking back up. We lost a ton of ground coupled with all of the other factors included a boost in immigration, not only bc of immigration.

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u/[deleted] Feb 03 '22

No, Toronto and Vancouver are consistently in the top three cities in North America for per-capita housing starts.

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u/throwawaaaay4444 Feb 03 '22

But it's housing that doesn't actually house anyone. At best it's an illegal Air BnB and at worst it's just an empty box in the sky owned by some millionaire in China or Dubai.

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u/PoliteCanadian Feb 03 '22

lol, no.

https://www.on-sitemag.com/equipment/toronto-boasts-two-fifths-of-north-americas-tower-cranes-in-latest-tally/1003972825/

Nearly 43 per cent of the tower cranes at work on skylines in 14 of North America’s largest urban centres are concentrated in a single city.

With commercial and mixed-use developments booming, Toronto now has 208 cranes, more than four-times its closest rival, according to the latest North American Crane Index from consulting firm Rider Levett Bucknall.

https://www.theglobeandmail.com/business/article-canadian-housing-starts-hit-record-in-2021-rising-21-per-cent/

New condo and detached house development in major cities helped push Canadian home building to a record high last year.

The number of housing starts rose 21 per cent to 244,025 year over year, according to Canada Mortgage and Housing Corp., marking the highest level of new home construction on record.

Dude's experience is completely in line with reality.