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Housing Downturn Will Have Drastic Effects On Economy | Canadian Real Estate Wealth
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Housing Downturn Will Have Drastic Effects On Economy | Canadian Real Estate Wealth
Lack of new residential construction caused by the most severe housing market correction in a generation is catastrophic in and of itself. However, the grim situation will also spur significant knock-on effects that will have long-lasting implications on the economy and labour force. Hefty hikes over the years in taxes, fees, levies and development charges on new housing have made new homes unaffordable for middle-class families. As a result, ho…
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