Article Reference://blogs.ubc.ca/stellacho/2014/10/20/58/
Picture Reference:http://freshome.com/2010/02/07/beautiful-efficient-design-in-a-one-room-apartment/
I am impressed with the blog written by Stella Cho, which briefly analyzes the current housing market in Vancouver. I share the same opinion with her because the price of renting an apartment in Vancouver is prohibitive; setting up such a high price system is not smart because the majority of the tenants are full-time students or graduates who just start to work. The current price is not reasonable and affordable, and as she states, the housing market may even crash someday in the future.

Besides the reasons that she provided that why the price is unexpectedly high, I think the government must play a role in the market as well. Because Canada has a mixed economy, the government has the right to intervene once the market tends to fail. They set up a price floor for rental, and have not displayed any willingness to lower the price compulsively. It indicates that, the government still thinks the current housing market makes the society better off, namely, the gain is greater than the loss with respect to economic surplus.

Stella Cho connects the case of her family with her statement, which makes her words more convincible. The current housing prices not only make the community of young adults stress out, but also burdens the old generation by having negative impacts on their retirement plan. The housing market shares some similar symptoms with bubble economy, and I predict that either the housing market are going to crash or the price is going to nosedive in decade, as expected.