2 ms·
Currently, more than 10 per cent of Canada’s GDP is derived from residential real estate activity: renovations, ownership transfer costs and real estate commiss
by WestCoastJustin 5y ago
Currently, more than 10 per cent of Canada’s GDP is derived from residential real estate activity: renovations, ownership transfer costs and real estate commissions. [1]
[1] https://nationalpost.com/news/canada/canadas-unhinged-housing-market-captured-in-one-chart https://nationalpost.com/news/canada/canadas-unhinged-housin...
- alan-hn 5y agoIs 10% == "almost entirely"?
- RandyRanderson 5y agoJun 2021: Canada Is Now 50% More Dependent On Housing Than The US At Peak Bubble: https://betterdwelling.com/canada-is-now-50-more-dependent-on-housing-than-the-us-at-peak-bubble/ https://betterdwelling.com/canada-is-now-50-more-dependent-o... The S&P was flat for 6 years following 2007 in the US. Doesn't seem like a good path to follow.
- yonaguska 5y agoRenovations are actually a tangible benefit, while ownership transfer costs and real estate fees are more of an indicator of high liquidity, but they don't actually provide value for people seeking housing.