This post is response to Xu Yueting’s blog <Expensive “homes” in Canada> about the average price for house in Canada rises 8% to nearly $40,000 in October.

In her blog, Yueting mentioned that the sharp increase of houses in Canada may lead to a wider gap between poor and rich, made the society unbalanced. I cannot agree more with her opinion because this has already become a big issue in China.

My hometown is a medium city 400km away from Beijing. In my hometown, many young people have to planning to buy an apartment and save a large percentage of their salary into banks as soon as they graduated from college because of the high selling price of an apartment. However, many of them still cannot afford a home without the financial help from their parents or get a loan from bank. The high selling price of a home in China leave a huge burden to the youth and made the sharp increasing price of home became the biggest problem for Chinese society.

Lucky, the survey shows that although the run-up in price may not be sustainable, but there is evidence that sales volumes are indeed very balanced (Pete Evans, Nov 15, 2013). It seems that Canada will not be second China in the short run.

Link:

Xu Yueting’s blog: https://blogs.ubc.ca/xuyueting/

CBC News. “Map: Real Estate Prices across Canada – CBC.” CBCnews. CBC/Radio Canada, 15 Nov. 2013. Web. 15 Nov. 2013.<http://www.cbc.ca/news2/interactives/housing-canada/>.

Pete, Evans. “Average House Price in Canada Rises 8% to $391,820.” CBCnews. CBC/Radio Canada, 15 Nov. 2013. Web. 15 Nov. 2013.<http://www.cbc.ca/news/business/average-house-price-in-canada-rises-8-to-391-820-1.2427778>.

Pictures from google