The affordable housing issue in Canada
This guest post is written by Kate Harveston, a writer and political activist from Pennsylvania. She blogs about culture and politics, and the various ways that those elements act upon each other. For more of her work, you can follow her on Twitter or subscribe to her blog, Only Slightly Biased.
Goldman Sachs gives Canada’s housing market a one in three chance of crashing soon. At the same time, more Canadians than ever are migrating to urban areas, driving up the need for affordable housing.
It’s a trend that isn’t sustainable. The average price of a home in Canada is increasing at nearly twice the rate of the United States, but wages for Canadians are not increasing. More people and lower income in a market with rising prices is a recipe for disaster, and if Canada can’t find a solution to the problem, that’s exactly what this crisis will become. Continue reading “The affordable housing issue in Canada”