No chance this crushes the 'bubble'. Record immigration, developers have greatly reduced housing starts, and people will do anything to keep their mortgage as asset prices continue to rise.
There's no political will at any level (muni, provincial, federal) to build housing, remove zoning, to reduce immigration to reasonable levels, and it's starting to feel hopeless.
Average rent for a 1br in Vancouver is $2250 - an individual following the 30% rule needs to make 90K/year to justify that. The system is broken and we'll continue to hear platitudes from the government, and that goes for both the Libs and the Cons.
There's no political will at any level (muni, provincial, federal) to build housing, remove zoning, to reduce immigration to reasonable levels, and it's starting to feel hopeless.
Average rent for a 1br in Vancouver is $2250 - an individual following the 30% rule needs to make 90K/year to justify that. The system is broken and we'll continue to hear platitudes from the government, and that goes for both the Libs and the Cons.