What’s the real problem behind Canada's out-of-control housing market?
Submitted to Affordable housing
In the first half of this Financial Post podcast, Gabriel Freeman interviews Paul Kershaw, UBC professor and advocate for making life affordable for young people. Kershaw describes how home ownership has evolved over the years and what to expect in the future. With no obvious ‘silver bullet’ solutions, he advises young people to rethink home ownership as a primary investment strategy.
Freeman also interviews Todd Sinai, chair of the Real Estate Department at the University of Pennsylvania’s Wharton School of Business, who also advises that buying a house or condo may no longer be a worthwhile investment.
Some people believe it’s time to rethink home ownership as an investment option for young and new Canadians. Where do you stand? What advice would you give to potential first time home buyers?