It’s a bad thing for Canada if housing prices keep rising.
Soaring house values are the most significant financial event of the past decade for the typical household. Now, it’s time to question how much good has come of it.
The housing boom has certainly been a major contributor to our economy, which came through the past five difficult years in comparatively good shape on a global basis. While a burst bubble in housing sank the U.S. economy, Canada’s housing sector has generated jobs and wealth.
But housing has also created serious financial disruptions that will hurt our well-being in the years ahead. We can’t see it coming because we’re too fixated on the idea that rising prices are an indicator of prosperity and success.
CONTINUE READING : The Globe And Mail
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