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-They don't have to build basements there
-Development charges are much lower than in Toronto, it's around $50,000 for a single family home in the GTA, maybe a couple thousand in the South (or no development charge at all)
-Land is cheaper - partly because they have less protection with greenbelts and the like, and also because they expand their freeway network to provide access to freeways for new development - which also allows the construction of bungalows instead of 2 storey homes, lowering the building costs and land acquisition costs
-Homes are smaller in much of the South vs the GTA where they don't really build homes in the 700-1500sf range anymore
-Cheaper/lower quality of construction in the South
The cheap housing built in massive quantities in the South sucks away much of the demand in more expensive areas like in the West Coast or Northeast, so these don't end up being as expensive either. Parts of Canada have all the factors the Southern US has except for no basements, but they're mostly economic backwaters and so they don't divert much demand from Canada's cities.
Also, Canada hasn't had a housing bubble burst yet (or even deflate really), in the US that's happened recently and it's difficult to get a mortgage loan now so the prices haven't gone up to the 2006 levels in many cities.
Why is it the sun belt cities in the US don't have basements? And why is it developers have to pay city hall more money in Canada to build house not like the US.
Why is it the sun belt cities in the US don't have basements? And why is it developers have to pay city hall more money in Canada to build house not like the US.
The question should be, why do Canadian houses have basements? Why would anyone need basements? People in Asia, Europe and S America mostly don't have basements, and they are doing fine.
The question should be, why do Canadian houses have basements? Why would anyone need basements? People in Asia, Europe and S America mostly don't have basements, and they are doing fine.
Not sure but I thought I read some where the cold had some thing to do with it.Most places in the US closer to Canada have basements too.
It's crashing as we speak now, I think. Too many condos supplies are left available with no takers. It's pretty much the end of a highrise condo boom for this city.
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