It is rare for senior Canadian politicians to admit that home prices will need to stall if we actually care about affordability
At last, someone from the world of politics is being honest about a pervasive and harmful trade-off. When home prices rise faster than earnings, owners like me gain wealth, while non-owners lose because their incomes fall further behind housing costs.
Honesty is saying that home prices have to fall. But this is progress.
Because we’re still riding the tail end of the dead cat bounce. That’s what a crash looks like. It is amazing how textbook perfect it is playing out to be.
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The market: Still significantly above the pre-2020 trend.
Because we’re still riding the tail end of the dead cat bounce. That’s what a crash looks like. It is amazing how textbook perfect it is playing out to be.
Until we see a significant drop in prices, the market hasn’t crashed. Maybe it’s the dead cat bounce, or maybe prices are stable.