Comment by bryanlarsen
4 days ago
Canada has been building housing at a much higher rate than the US in the last 2 decades. Not enough, but more.
4 days ago
Canada has been building housing at a much higher rate than the US in the last 2 decades. Not enough, but more.
They have been underbuilding compared to their population trends as we see their prices continue to skyrocket
Down substantially from the peak in 2022. And that's nominal prices. Adjusting for inflation will show that real prices are lower now than they were in 2017.
https://tradingeconomics.com/canada/average-house-prices
Hrmm. What data source can I see to demonstrate this? I looked at a chart I have referenced before that shows nationwide USA housing starts over the last 20 years ranging from 2 to 8 per 1000 people. Then I searched for one for Canada and found one suggesting 1-2 per 1000 since 2005. And, evidently, the situation in Canada as developed/deteriorated to the extent there's a whole subreddit for the canadian housing crisis?
Looks to be averaging around 250,000 per year over the last decade. That'd be over 12 per 1000. https://tradingeconomics.com/canada/housing-starts
Yes so it looks like the Reddit people are committing major chart-crimes, showing quarterly data as such, rather than annualized rates, and not mentioning it. It looks like this is a source of truth: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=341001...
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