Thursday, November 18, 2021

Real Estate Bubble making Canada's Wealth Gap Worse

Canada's real estate bubble is going to burst. It is just a matter of when.

With the pandemic and other factors fueling housing prices, plus rampant speculation, it is really just a matter of time before housing prices become unaffordable and the market collapses under economic pressures.

And if you look around at all the economic pressures, you know it is going to happen.

The bubble has to burst. Toronto and Vancouver rank up there with San Francisco and Los Angeles for the most expensive real estate markets, and while Canada's market has been stable... Our median incomes haven't been going up enough to justify the rapid increases in home prices.

Eventually the wealth gap between rich and middle class will make it impossible for even middle class people to afford a house unless they take out huge mortgages they cannot afford. And when the next big recession hits...

Wednesday, November 10, 2021

Super Basements and Iceberg Homes

 Iceberg Homes are pretty much what you imagine them to be. Houses that are bigger below the ground than they actually appear to be. It is a growing trend in architecture (especially for homes belonging to billionaires) where they build a massive underground structure, but have lots of room to store all their things... And for entertaining guests / having parties.

Basically it is just another way for the rich to show off their wealth.

There's only one major flaw: They tend to get flooded easily. Definitely need flood insurance.

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