07-30-2022, 11:17 AM
(07-30-2022, 06:05 AM)ac3r Wrote: TD Economics forecasts a potential -8% drop in national housing costs by 2023: https://economics.td.com/ca-forecast-tables#home-sales
I am increasingly of the opinion that there needs to be a bubble burst and crash like 1989 that brings back housing costs to pre-2014 levels with respect to present/future incomes, if not lower.
If not, we'll still have far too many people with issues affording housing.
I dream of provincial and national policies that would regulate residential property to barely more than inflationary appreciation in order to make property a commodity rather than a speculatory investment to get rich on.
Somebody who has property and builds on it housing or other amenities needed by the community is giving value to the community. Somebody who is just sitting on a property and watching the value rise through no work of their own but expects to profit through a later sale is a leech and a parasite on the community.