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They call the region the Golden Horseshoe Region for a reason. That whole western bend of Lake Ontario is the most prosperous and highly sought part of Ontario and perhaps all of Canada. The GTA only makes up a portion of the larger Golden Horseshoe Region. Housing is expensive because there is much demand for housing there and supply is not meeting demand. Those prices you quoted are typical of the East and West Coasts of the US as well as Greater Vancouver, again highly sought after places with insufficient housing supply so it comes to no surprise to me.
They call the region the Golden Horseshoe Region for a reason. That whole western bend of Lake Ontario is the most prosperous and highly sought part of Ontario and perhaps all of Canada. The GTA only makes up a portion of the larger Golden Horseshoe Region. Housing is expensive because there is much demand for housing there and supply is not meeting demand. Those prices you quoted are typical of the East and West Coasts of the US as well as Greater Vancouver, again highly sought after places with insufficient housing supply so it comes to no surprise to me.
Those cities I posted are far away from the GTA and are out in the country. So it not like it close to the GTA like 15 minute drive.
Those cities have not double in population in the past 20 years but only modest growth.
I'm sure supply and demand issues have "some" effect on the uptick in pricing, but I doubt they are all cases of shortages of housing.
Now in the "university / school" towns (Kitchener), you have parents buying houses for their kids to go to school there. Plus you will get investors buying out homes to rent out to students. So yeah there will always be more buyers from out of town.
Then you have the people moving out of the GTA into the surrounding areas... they are sick of the high prices, but their mass exodus also makes creates inflation in the towns they move into.
Personally I feel bad for any young person trying to get a house nowadays. Who can afford a mortgage for $700,000 and up?
That’s interesting. I read the Winnipeg Free Press and the Winnipeg Reddit every day and have never seen any reference to a housing shortage. I would have thought if there was a housing shortage or a shortage of rental apartments that someone local would write about it (or complain about it). The election is in about 6 weeks. If there was a severe housing shortage, wouldn’t it be a campaign issue?
Reading the report, the conclusion that there is a housing shortage in Manitoba is solely based on this mathematical formula:
No. of housing units / (Population/1000)
Zero research appears to have been done (e.g. actually talking to the real estate board) to support the conclusion.
There is a housing shortage on northern Reserves but that’s nothing new. Multiple generations can live in same home as a result. Of course, that shortage there has nothing to do with immigration and a lot to do with the remoteness of the communities.
Of course, we do have a homeless problem too but probably less than provinces with milder climates.
Are you referring to cities? In Saskatoon it's reported that houses are difficulty to find even though the price average is more modest $400K.
If a potential buyer was willing to pay more than other potential buyers, I’m sure they could find a house. It would still be a bargain compared to Vancouver or Toronto prices.
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