Yes many people need to consider other cities and provinces. A bit of research and maybe a trip to check out the area or secure a job is recommended if possible.
Housing crisis in Canada
- Thread starter ZZDown
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I’m planning on doing an “ American Beauty.”
Flipping burgers , washing dishes . Something with the least amount of responsibility as possible.
After 30 years of high stress, and Toronto is turning into a ugly city…
Then that makes sense. Unfortunately I see many choosing to move to a location purely based on housing prices and not taking into account job opportunities, industries in the region, average and median salaries, etc. Also think that housing really needs to be addressed in Canada. We have let real estate
Prices bubble to a rate that is so out of line with salaries that it is going to make it very difficult for young families to get into a home and be able to afford to have children. You also have many people in retirement or near retirement depending on cashing out of their homes to fund their retirement (although not wanting to move) or still having mortgages. Same issue in Australia. Prices are getting to bubble territory in the US again and pension funds are buying up tons of housing. Real estate is too big a percentage of our GDP.
They also need to addressed the construction material price and other commodity prices.
That is a temporary issue due to covid that should get better once supply chains are back to normal.
Current housing crises in Toronto might also be a temporary issue due to covid that should get better once back to normal.
The housing price issue in Toronto has very little to do with covid.
Momentarily due to a shortage of supply but covid is not why housing prices are going up. Still not due to covid but because it was different to show homes during lockdowns and many were not listed during lockdown. Canada’s housing price issue existed before covid and is a longterm problem.
Lockdowns are due to covid. And housing prices in Toronto skyrocketed during covid (but not all of Canada). Calgary is one example.
Toronto had a temporary surge in prices due to a shortage of listings. The covid surge has already ended and prices have returned to increases do to normal economic factors.
Lockdown ease... but as OP said prices "completely impossible for an average person".
That's a crazy idea.
One can buy real estate in Canada without move there or marriage.