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I never understood how the prices kept going up and up and up for decades and how folks could afford to live there. It seems housing prices in Ontario were crazy. We were looking for a home for our children and/or parents and places I wouldn't want my dog to live in were going for 300k+ and people were fighting over them.
Yeah, I've been wondering what comes after as well. Farmland prices have also skyrocketed - with labour disruptions possible and everything changed, I'm wondering what happens to those prices. Up or down? We're in a better position than most in that we have no debt. For the past 6 months I'd been debating building a new home so it would be easier for my husband to get around and also build it in such a way so that my parents could move in should that become necessary. Now I'll probably wait and see.
My brother is in construction and he laid off all his employees. My stepson is in Vancouver and doesn't know how he'll be able to collect rent from his buildings. He thinks this will be worse than the 1930s.
I don't see how long the government can pay percentages of people's salaries before the government is only printing worthless money. I don't see either how banks can repossess houses if there are no buyers.
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