Interesting the recent focus on the Canadian market. FT just publiched an opinion peice last weekend on why we are not a global leader. Basically low pop density -> limited competition -> limited innovation & productivity
I recently sold my downtown Toronto condo (principle residence) after 8 years and the returns are arguably higher than the wage I've made over the same period of time after taxes (I work at one of the big 4 consulting firms, so a fairly average salary for the city).
We are now with our backs to a wall where we cannot let house prices drop, which means we cannot increase supply to quickly or risk a good chunk of the population losing a significant portion of their future buying power....that is unless wages shift.
I recently sold my downtown Toronto condo (principle residence) after 8 years and the returns are arguably higher than the wage I've made over the same period of time after taxes (I work at one of the big 4 consulting firms, so a fairly average salary for the city).
We are now with our backs to a wall where we cannot let house prices drop, which means we cannot increase supply to quickly or risk a good chunk of the population losing a significant portion of their future buying power....that is unless wages shift.