The national average home price in Canada was $686,650 in September, up 13.9 per cent the same month last year, according to the Canadian Real Estate Association.
So that again, is market factors including slow approvals – there’s a lack of coordination among municipal, provincial and federal governments and it’s hard for people to build houses.
“There has to be some plan to see our spending as a ratio of our economy start to come down, that this cannot go on indefinitely.
It’s is a supply problem, but it’s not a supply problem the government can deal with on its own.
“One of the things that’s really driving people apart in terms of inequality in our country is the amount of money people are making off houses who own them versus the amount of money people aren’t making on their homes that rent them.