On November 15th 2013 CBC news states that compares to last year, the average price for house in Canada rises 8 % to about $40,000 in October. Meanwhile, data from Canadian Real Estate Association displayed the number of house sold declined along with the increasing price of house and also proves the Law of Demand in terms of economics.
As can be seen from the figure above, it clearly shows that the average home price is increasing in most part of Canada. However, British Columbia area was shaded blue and made approximately 26 % contribution to the sales of the whole country.
The way Canada increase the price of a house may lead to a failure in response to sustainable development because it destroy the normal order flow of real estate. Additionally, it doesn’t help in shrinking the gap between the rich and the poor then create community disharmony. As a businessman with responsibility, it is the right time to provide a considerable amount of ordinary commercial housing with a affordable price for those salariat.
References:
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 http://creanews.ca/