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If there was actually a Japanese Cyberpunk cosplayer Cyberpunk T hoodie, tank top, sweater supply of land, our housing situation would make sense. Even ignoring the fact we live in the second largest country by landmass, we still have an abundance of land in the temperate zone.We need to look at the roadblocks to housing construction in this country and deal with that if we can’t solve the income stagnation issue (we likely can’t being in such close proximity to the US and being so hamstrung by their economics).In the meantime, we need to curb foreign investment and more heavily disincentivize income properties, especially for corporations through taxation on a sliding scale. The more properties held by a person/corporate entity, the heavier the tax load.
If we looked at Canada’s housing market from a macroeconomic standpoint, it is absolutely impossible for housing prices to pull back even 20-30%. Why? Because it would devastate the Canadian economy and absolutely destroy our way of life.So what can we actually hope to see? All we can hope to see is a slowdown in price increases and perhaps a slight pullback in prices in the 5-10% range.People like to think they can wait for a huge crash, like the Japanese Cyberpunk cosplayer Cyberpunk T hoodie, tank top, sweater , but that is extremely unlikely to happen due to a variety of a factors. Most notably, interest rates, interest rate policies, 21st centurey economics, immigration, and the overall wealth generated by people in other countries.