The problem with the Canadian housing market can be summarized in: - The housing market never crashed, it never reset like the US one in 2008, The government i

The problem with the Canadian housing market can be summarized in: - The housing market never crashed, it never reset like the US one in 2008, The government instead kept duct-taping the issue by printing more money, increasing and decreasing the interest rates, and now they are even increasing the period of mortgages to up to 70 and 80 years, all of that so the bubble won’t burst. - Interest rates are not fixed, even the fixed ones will/can be changed after 5 years. - The individual in Canada is 40% less productive than the one in the US (Statistics Canada and US Bureau of Labor) - Canada barely manufactures or produces any industrial products, Canada's economy shifted from that as well as oil and the stock market into investing in housing, basically buying and selling houses became the core of Canada's economy. - Over immigration, the country is accepting immigrants at a very high rate, Those immigrants are not construction workers but are skilled ones, they won’t work to build more houses, but they need to buy or at least rent, putting extra salt to the injury there, less supply and more demand will definitely increase the prices. This is without mentioning the ones who buy these as an investment, sometimes even without being a Canadian resident or citizen, making it even worse for locals, especially with Canadian low wages. - Because we never had a crisis due to interest rates dropping to zero, boomers and GenX managed to buy houses, the country now has around 2/3 are actually owning a house, the problem with that is, your voter base majorities are AGAINST taking any action to reduce housing prices because it’s their investment, and they would even use that investment to buy more houses, while the ones who never bought one are not able to afford even the rent, right now, only 10% can afford to buy houses and those are already owners or just corporates. I highly recommend watching this video it goes into more details https://www.youtube.com/watch?v=XomvuLPiTWM https://www.youtube.com/watch?v=XomvuLPiTWM Solutions? None will be taken by any government as none wants to piss off their voters, but it should be just like the Japanese model, a harsh, non-democratic approach will surely fix it, also, Canada has a lot of land but still owned by the crown, and there’s basically not much of construction workers either, plus banning anyone who’s not citizen or resident to buy houses, all of that should bring up some solutions.