Actually, not all the Canadian citizens can afford a house in Canada. As researches shown, housing price in Vancouver is getting higher and higher. According to Edward Yang, middle-class families might not enjoy their life in Vancouver because of the housing price and cost of living has skyrocketed during recently years. As it is illustrated on Douglas Todd’s blog (Douglas Todd’s blog), the author of Millionaire Migrants thinks that Asian wealthy families cause this issue more heavily.
（Picture1:Vancouver Average Housing Price)
(Picture2: Residential Average Sale Prices)
Actually, I am convinced by this opinion. It is a common phenomenon that a great number of Asian prefers to go abroad to study or work. As far as they are concerned, they can gain better education and various personal developing opportunities at western countries. For these reasons, some families might purchase houses for immigration or as investments. According to economy theorems, when the market demand is greater than market supply, the price of good increase. When we only have Canadian citizens at the housing market, the housing price might not be very high because Canada is a country with massive lands and small population. Therefore, most of people can afford a house or an apartment with lower price a decade ago.
(Picture3)
From my prospective, it is extremely hard to solve this issue, as many people need to earn their life through selling house. In the other hand, if there are consumers, and producers, there are housing markets.
Websites’ Links:
Why Vancouver housing is unaffordable and what to do about it
Five Charts: Predicting Future Vancouver Housing Prices
Millionaire Migrants: The Numbers Grow
Pictures’ Links:
