Data Is Beautiful

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Comparison of population, wage, and home price growth (sh.itjust.works)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 12 points 1 year ago (2 children)

It's just money in general. Not every province tracks foreign ownership of residential housing, but those that do show only about 5% of houses are owned by foreigners. It's mostly rich Canadians and Canadian businesses that have purchased a huge amount of housing as a form of market speculation.

However, houses being worth a small fortune is good for anyone who already owns a house, which is most Canadians. The issue is that not everyone wants house prices to drop.

[–] [email protected] 6 points 1 year ago

Does that include businesses that are registered in Canada but primarily held by foreigners?

[–] [email protected] 5 points 1 year ago

I'll never understand why people think "only" 6.2% of a consumer base can't heavily distort a market based on benchmarks.