3 ms·
It's almost like a long-slow-great-depression. We can see these trends (average house price in Toronto / Vancouver exceed $1m) but nothing happens to reverse th
by alexc05 10y ago
It's almost like a long-slow-great-depression. We can see these trends (average house price in Toronto / Vancouver exceed $1m) but nothing happens to reverse them.
Plodding and lumbering forwards, the depression continues.
Recently I've read a few articles about how "the Exodus of millenials threatens these cities' economies"
http://www.vancouversun.com/touch/news/exodus+millennials+threatens+metro+vancouver+economy/11070861/story.html http://www.vancouversun.com/touch/news/exodus+millennials+th... (specifically, Vancouver but consider this as a cannary in a coalmine)
Some of the massively expensive cities don't have the infrastructure to support a London-like commuter lifestyle. LA traffic & all the young people leave? They'll go somewhere else entirely.
- Tistel 10y agoI left Vancouver and currently live in Toronto. The real estate bubble monster is a truly frightening beast in those cities. Outside of tech (I am a programmer) and banking, so much of Canada's economy is in real estate. http://www.bloomberg.com/news/articles/2016-01-29/canada-s-one-legged-stool-economy http://www.bloomberg.com/news/articles/2016-01-29/canada-s-o...
- jboles 10y agoSame issue with Australia. Too much of the economy involves digging up rocks and flipping houses.