Mr.Peppermint wrote:
Despite the scarcity of land and the much larger current population
Don't hold your breath
That's an interesting point you've Googled up there Mr. P., I've read that too. It seems like it's the ace in the hole of the Real Estate racket, to keep their trendlines pointing ever upward. A predictable demographic fact, you can look at it as another "pig in the Python", just like the swell of generally affluent Boomers that are affecting our economy now and to come. But the main reason why it's BS: Actual affordability. Income levels are not rising anything even remotely close to as fast enough to absorb the nutty increases these folk want you to think is normal and desirable, and it's been going on for pushing 15 years especially out here. The average new mark I mean client buying some of this stuff was 12 in 2000, what could they possibly know?
How much further past 50% of disposable income should we be pushing people? Do you think that's a limitless resource? I can see what will happen more and more is that all kinds of people (not just certain cultures with old ways) will start co-habitating with multiple income earners under the same roof for purely economic reasons to make it all possible. Also, remember Halton's Basement apartment grant program, what the hell do you suppose that was all about, really?
http://www.halton.ca/living_in_halton/h ... t_program/ The second I saw that, I thought it has partly been created to support affordability of the overpriced housing inventory, not just to push responsibility for affordable housing off the Region's table. Both obviously I think.
Here's the irony: the more people that have smelling-salts revelations about how f***ed up this has gotten and stop trading in real estate, the faster prices will droop as demand tanks. Look at the Summary I posted: almost 45% fewer takers and 225% more offerers. What's that mean?