Housing crisis in Canada

[canuck78]

After years of living in BC, I moved to Prince Edward Island 2 years ago and I live like a king here. There is work, you just need to be flexible.

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.

 

[Copingwithlife]

Makes absolutely no sense to buy a home in Calgary and work in another province. If people can find a good job in Calgary or work remotely moving to Calgary may be a good option. Wouldn't move and leave my job without finding another opportunity unless you make minimum wage then moving will likely be beneficial.

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…

 

[canuck78]

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.

 

[steaky]

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.

 

[canuck78]

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.

 

[steaky]

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.

 

[canuck78]

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.

 

[steaky]

The housing price issue in Toronto has very little to do with covid.

But housing prices in Toronto did skyrocketed during covid.

 

[canuck78]

But housing prices in Toronto did skyrocketed during 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.

 

[steaky]

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.

 

[shipping]

Move to Saskatoon may be a good idea. It is fast growing one buddies.

 

[canuck78]

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.

 

[steaky]

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".

 

[roy1947]

recently I read a quote:

Easiest way to buy real-estate in Canada is to marry someone in US and move there.

OP is single, shd try this route.

 

[steaky]

recently I read a quote:

Easiest way to buy real-estate in Canada is to marry someone in US and move there.

OP is single, shd try this route.

That's a crazy idea.

One can buy real estate in Canada without move there or marriage.