Lots to digest, here. Isn't it a mug's game to pick random "decades" and show how things are "lost" when an alternate period within say five years of the chosen period might lead to entirely different results? Canadian media (and, generally, society) conflates housing "success" with how much someone has made if, say, they've inherited a parent's house that was purchased for $185,000 in 1984 (when interest rates were 5x what they are now) and have it on the market for $2.4 million 40 years later (wow, where DID that 40 years go?) Calgary - talk about a lost decade, hell, there's never been a collapse like that city went through following the implementation of the National Energy Program in the 80s. There was mass 'walking away' from mortgages that were worth far higher than the price of new, overbuilt eastern suburbs (indeed, in 2012, you might have called Riverside, California "the Calgary of California). If we wanted an equitable and just society in Canada, would we not have a housing market where people who work at full time jobs would have the opportunity to live close to (say, a half hour from where they live) to own their own homes? They might be single people owning studios, young families in townhouses, middle-aged families with an in-law suite, and the cost of housing would not strangle the typical family budget? There could be co-ops, equity co-ops, co-housing - lots of types. (Both forms of housing were tried in Kitsilano during the 80s and 90s). The amount of mental stress that thinking about housing puts on the typical relationship is beyond belief, which is of course the source of Millennial angst that we see in so many Canadian cities right now.
Lots to digest, here. Isn't it a mug's game to pick random "decades" and show how things are "lost" when an alternate period within say five years of the chosen period might lead to entirely different results? Canadian media (and, generally, society) conflates housing "success" with how much someone has made if, say, they've inherited a parent's house that was purchased for $185,000 in 1984 (when interest rates were 5x what they are now) and have it on the market for $2.4 million 40 years later (wow, where DID that 40 years go?) Calgary - talk about a lost decade, hell, there's never been a collapse like that city went through following the implementation of the National Energy Program in the 80s. There was mass 'walking away' from mortgages that were worth far higher than the price of new, overbuilt eastern suburbs (indeed, in 2012, you might have called Riverside, California "the Calgary of California). If we wanted an equitable and just society in Canada, would we not have a housing market where people who work at full time jobs would have the opportunity to live close to (say, a half hour from where they live) to own their own homes? They might be single people owning studios, young families in townhouses, middle-aged families with an in-law suite, and the cost of housing would not strangle the typical family budget? There could be co-ops, equity co-ops, co-housing - lots of types. (Both forms of housing were tried in Kitsilano during the 80s and 90s). The amount of mental stress that thinking about housing puts on the typical relationship is beyond belief, which is of course the source of Millennial angst that we see in so many Canadian cities right now.
Didn’t the lost decade in the 1990s occur after a recession hit? We haven’t even hit that yet 🤷🏻♂️