Jacobin 06-01-2022, por John Clark
https://jacobinmag.com/2022/01/canada-housing-market-real-estate
When Canada’s Housing Bubble Pops, It Will Cause Misery and Ruin
As recently as ten years ago property speculators were a minority amongst Ontario’s home buyers. Investors now surpass first-time buyers as well as the total number of people moving between homes. According to a recent report, between January and August of last year investors were responsible for a quarter of house purchases in the province.
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| Clique na imagem para ampliar Fonte: https://www.cbc.ca/news/canada/toronto/investors-in-ontario-real-estate-market-1.6258199 |
These speculative investments are, of course, driving up prices. They are also creating major problems for the economy as a whole because the rising cost of housing has increased the amount of private debt held by individuals. (..)
In the last two decades, home prices have gone up by 375 percent in Canada. These increases have been especially marked in in Toronto and Vancouver, where prices have swelled by 450 and 490 percent respectively. This rise far outstrips any other developed markets in the world. In recent years, an incredible gulf has opened between house prices and real income. (..)
2022-01-16
