3 ms·

A price-slump in emerging markets with a ton of startup money is practically guaranteed. Bangalore's real estate has been propped up by speculative investor mon

by screye 4y ago

A price-slump in emerging markets with a ton of startup money is practically guaranteed. Bangalore's real estate has been propped up by speculative investor money leading to overpaid employees for a decade, and I can see it collapsing soon. Canada is probably in a similar situation. US cities' housing value is entirely captured within the local committees' ability to block any and all construction nearby. If zoning limitations are eased then the American housing market will crash irrespective of the nature of the economy around it.

lazide 4y ago
While local effects like startup money or industry can definitely not be ignored locally, everyone is lifted by the tide of fed money printing, modulated by their exposure to the US markets. Minus some really out of the way places (Iran? Central Africa?h that’s pretty much everywhere. As money starts to tighten up again, expect a LOT of house pricing headwinds.
nikanj 4y ago
Canada is powered by the dual forces of growing population, and extreme nimby. More people, same number of homes -> higher prices
- acchow 4y ago
  Few cities have been building housing as fast as Toronto. The main issue is whatever housing toronto builds, the government turns up the immigration tap twice as fast.
  - therealdrag0 4y ago
    Aside: I was in Vancouver last year and I was amazed at all the high rises. It seemed to blow Seattle out of the water. Seattle and Bellevue have high rises but every other suburb is just flat. Whereas every burn of Vancouver seems to have towers.
    - acchow 4y ago
      Yeah Toronto and Vancouver have both been building incredible amounts of housing. Really puts to shame any US city. Still not enough to satisfy the immigration firehose tho.
    - nikanj 4y ago
      Over 80% of Vancouver is zoned for single-family homes. The few plots of land downtown that can have density have been crammed with towers. If you leave the downtown core the density plummets
  - digianarchist 4y ago
    In Canada? Sure. 36,723 isn't a lot though. Might change soon with the province overruling nimby councilors https://www.cbc.ca/news/canada/toronto/new-housing-legislation-election-1.6625136 https://www.cbc.ca/news/canada/toronto/new-housing-legislati...

by screye 4y ago

lazide 4y ago

While local effects like startup money or industry can definitely not be ignored locally, everyone is lifted by the tide of fed money printing, modulated by their exposure to the US markets. Minus some really out of the way places (Iran? Central Africa?h that’s pretty much everywhere. As money starts to tighten up again, expect a LOT of house pricing headwinds.

nikanj 4y ago

Canada is powered by the dual forces of growing population, and extreme nimby. More people, same number of homes -> higher prices

acchow 4y ago
Few cities have been building housing as fast as Toronto. The main issue is whatever housing toronto builds, the government turns up the immigration tap twice as fast.
- therealdrag0 4y ago
  Aside: I was in Vancouver last year and I was amazed at all the high rises. It seemed to blow Seattle out of the water. Seattle and Bellevue have high rises but every other suburb is just flat. Whereas every burn of Vancouver seems to have towers.
  - acchow 4y ago
    Yeah Toronto and Vancouver have both been building incredible amounts of housing. Really puts to shame any US city. Still not enough to satisfy the immigration firehose tho.
  - nikanj 4y ago
    Over 80% of Vancouver is zoned for single-family homes. The few plots of land downtown that can have density have been crammed with towers. If you leave the downtown core the density plummets
- digianarchist 4y ago
  In Canada? Sure. 36,723 isn't a lot though. Might change soon with the province overruling nimby councilors https://www.cbc.ca/news/canada/toronto/new-housing-legislation-election-1.6625136 https://www.cbc.ca/news/canada/toronto/new-housing-legislati...