A) Even if the housing market dropped as much as it did in the 90s (about 30% in the toronto area) it STILL wouldn’t be affordable. That’s the problem here, the situation is so bad that even a massive crash isn’t enough to fix it. It has to be completely ruined before we restore that tag.
B) There are more bedrooms in Canada than people, and given that a lot of people share bedrooms (couples and small children) that means there’s actually a significant excess of housing. If you go back through my comment history you can actually find where I did the math and linked sources on this one. The problem is not the lack of housing, it’s the distribution and allocation of housing. This problem can be fixed without building a single new home.
A) Even if the housing market dropped as much as it did in the 90s (about 30% in the toronto area) it STILL wouldn’t be affordable. That’s the problem here, the situation is so bad that even a massive crash isn’t enough to fix it. It has to be completely ruined before we restore that tag.
B) There are more bedrooms in Canada than people, and given that a lot of people share bedrooms (couples and small children) that means there’s actually a significant excess of housing. If you go back through my comment history you can actually find where I did the math and linked sources on this one. The problem is not the lack of housing, it’s the distribution and allocation of housing. This problem can be fixed without building a single new home.