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Showing posts from February, 2020

Housing Affordability circa February 2020

Writing in today's National Post, Vanmala Subramaniam tells us that Canadian home prices will likely expand this year at “their fastest annual pace since 2016,” says a new report by TD Economics.

https://business.financialpost.com/real-estate/this-is-not-a-good-sign-toronto-housing-price-surge-resembles-sky-high-gains-of-2016

The article describes how prices can be expected to rise dramatically. It does not ask for comment from politicians, housing activists, or those affected by the coming price increases. 

While thousands have been enriched by the growing price of real estate, many more are affected by the lack of safe, good-quality, reasonably-priced housing with access to transportation and other infrastructure.

Housing affordability is the biggest crisis facing this generation. Young people are facing lifetimes of insecure housing and escalating rents or mortgage payments that extend into their old age. For most of their lives, the bulk of their earnings will be turned over to la…