3. Canadians Abandon Home Ownership Thanks to Mortgage Restrictions

Canadians Abandon Home Ownership Thanks to Mortgage Restrictions

Housing affordability is enormously out of wack compared to our parents' generation.

My parents' house in Quebec :

In 1971, they paid $63,000 ( ~$400,000 today) to build a new 4 bedroom, 3 bathrooms, double garage, home office, living room, family room, dining room, double size kitchen on a 160 feet wide and 200 feet deep lot... (see screenshot). (The pool is 20' wide by 40' long)

Their latest evaluation puts the price of their house between $800,000 and $1 million today...

So based on that, we can assume that the price of housing is more than double what inflation say it should be... Remember, that house is practically 50 year old today...

/r/canada Thread Parent Link - fcpp.org
Previous
Next

Recently removed from /r/canada

Leger Poll: CPC 36%, LPC 30%, NDP 19%, BQ 7%, GRN 4%, PPC 2% Ottawa wants to automatically file taxes for low-income Canadians — and perhaps eventually for everyone | Recent federal budget announced plans to automatically file taxes for millions of low-income earners Jamie Sarkonak: Liberal gun grab serves no purpose — they just want our property; There’s no market, only one buyer, and participation is mandatory The grieving mother of a murdered teen pleads for a stronger social safety net Opinion | Is it time to step down? 5 questions about Justin Trudeau’s future as he marks 10 years as Liberal leader Ukrainian women sheltering in London, Ont., say they were asked by the host if they wanted to do sex work Poilievre compares Trudeau to ‘shady contractor’ as leaders spar over affordability Opinion: LNG is a hat trick for Canada The Case for 15-Minute Cities Canada to transfer artillery, air defense ammunition to Ukraine Majority of Canadians won’t change drinking habits in light of new guidelines: poll Wealthy households fuel the inflation that makes life unaffordable for others The convoy crisis wasn’t a failure of federalism. It was a failure of Doug Ford Ontario needs 1.5 million new homes. But the province faces a generational labour shortage - 100,000 new skilled trade workers needed to meet housing demand, province warns Bank of Canada might need to raise rates if companies keep raising prices, Macklem warns

More Random Comments

Mary Mary s5 e4 Suicide bombers are most often "sadly ignorant about Islam" Ohio museum apologizes after woman is told not to breastfeed Goodell: no change to Patriots penalty despite letter from Kraft Leonardo DiCaprio attacks Republican presidential candidates on climate change | “We should not have a candidate who doesn’t believe in modern science to be leading our country,” he said. Let's talk relationships ELI5: Why is mentioning skin color is offensive and has a racist connotation. PSU change from original [AMA Request] Someone cut off from civilization for a long time like a shipwreck or hostage survivor. Nigri Asspreciation Jian Ghomeshi Verdict Megathread 2.0 Mormon couples who are unable to have kids Entitled Gamers and Other Logical Fallacies I'm on the path of becoming a born again christian. Can you help me develop faith, love and devotion towards the Lord and His son, Jesus, and give me advice on embracing his Holy Spirit? Long but there's a Tl;Dr at the end... any advice is appreciated, thanks What does your character's bio look like?