The most beautiful church in North America, St. Patrick’s Cathedral in New York, was built in 21 years. Saving for a down payment on a house in Metro Vancouver, for the average young person, takes 23 years.
You read that correctly: owning a home is officially more time-consuming than building a cathedral.
Back in 1976, when that first Trudeau was Prime Minister and Paul McCartney was with Wings, saving for a down payment took five years.
Do we need government intervention to ferret out foreign capital that is apparently lifting housing prices to levels largely unrelated to the local economy? Or is this evidence the suburbs were a misbegotten idea that needs to be done away with?
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