this post was submitted on 24 Nov 2023

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Home prices could drop by 10 per cent in early 2024: TD (www.ctvnews.ca)

submitted 1 year ago by [email protected] to c/canada

20 comments fedilink hide all child comments

TD Bank says home prices could drop as much as 10 per cent on average by early 2024 thanks to a surge in housing supply in some provinces.

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[–] [email protected] 40 points 1 year ago (2 children)

Oh perfect, it's a good thing they didn't almost triple in price over the last 10 years.

[–] TotallyHuman 19 points 1 year ago

Down 10% over 6 months isn't nothing, though -- if that rate continues for ten years prices will almost drop to one-tenth. It took us a long time to get into this situation, it might take a while for us to get out. This isn't a complete solution, but it's a good start.

[–] nueonetwo 14 points 1 year ago (2 children)

House goes from 200k to 700k in 10 years then goes to 630k and were supposed to be happy? This country is a fucking joke.

[–] [email protected] 27 points 1 year ago

All of the countries are a joke my guy, unless you're part of the billionaire club you're just exploitable.

[–] [email protected] 11 points 1 year ago (1 children)

Which country would you rather be in that didn't have a massive increase in housing prices?

[–] nueonetwo 12 points 1 year ago (2 children)

One with a functional transit system.

[–] ILikeBoobies 3 points 1 year ago (1 children)

I don’t think you’ll find that

[–] [email protected] 10 points 1 year ago* (last edited 1 year ago) (1 children)

Plenty of countries have functional transit systems. Why do you say that as if they don't exist? Lol

EDIT: Oops, I missed the comment chain...lmao

[–] ILikeBoobies 3 points 1 year ago (1 children)

There’s 2 parts to it

Functional + didn’t see an increase in home prices

Finding both would be difficult

[–] [email protected] 2 points 1 year ago (1 children)

Sorry, I missed which comment you replied to. My mistake!

[–] ILikeBoobies 2 points 1 year ago

Judging by your upvotes and my downvotes that is pretty common

[+] [email protected] -9 points 1 year ago (3 children)

I love when kids whine about how bad things are in Camada but when asked to point to a better example they can't.

Hell, I live in Vancouver and our transit system is world class. Lived as an adult for 20 years here, never needed one. (Finally got one so I could go skiing more easily but even so, I haven't filled up the table since a road trip in August because transit is so damned convenient.)

[–] Numpty 10 points 1 year ago (1 children)

Have you EVER traveled anywhere overseas? A simple comparison... Amsterdam vs Vancouver (I've lived in both cities). Vancouver transit is absolutely terrible in comparison, and the Dutch have to deal with swampy ground and water everywhere. Amsterdam has trams, buses, trains (local and long distance), and glorious cycle paths EVERYWHERE. The city is pedestrian friendly too... Vancouver is just a generic typical north American city built for cars and little else.

[–] [email protected] 1 points 1 year ago (1 children)

Oh Amsterdam's cycling infrastructure is second to none. But comparing Amsterdam's transit system to Vancouver's is pretty unfair; Amsterdam has a population density of almost 5,000 people per square km compared to the GVRD's pop density of just over 900/square km. It's sort of like comparing Vancouver's public transit to Hope's.

I am perhaps biased having lived in Ireland where, the transit was abysmal. In my time in Berlin, transit was effective but I wouldn't put it above Vancouver's. Spain/Italy was ridiculous (not in a great way.) Though, all of them (except Ireland) were great at cross country connections for sure.

[–] Numpty 1 points 1 year ago* (last edited 1 year ago) (1 children)

OK, Hamburg... Munich... Utrecht... Maastricht... Antwerp... Vienna... Paris... pick a city. Hell, even San Francisco has better transit in the majority of the Bay Area than Vancouver. Basically, what I wanted to point out is Vancouver is NOT world-class.

You don't need trams everywhere, like Amsterdam. Something as basic as proper cycle paths so people don't have to cycle in traffic would be nice.

I get tired of everyone excusing Canada's stupidity because of population density. We have to pay among the highest cellular rates in the world because population density. How about it's due to corruption and lame excuses. We have shitty transit because population density. We pay insane internet rates because population density... on and on. They are excuses. Canad can do better. We (collectively) choose not to.

[–] [email protected] 0 points 1 year ago

I get tired of everyone excusing Canada's stupidity because of population density.

This is like me saying "I'm sick of not playing for the Canucks just because I can't really skate backwards, don't have a shot and have trouble receiving passes."

Sorry but we live in the second largest country in the world and one of the least densely populated.

Either the transit will be more expensive (thus defeating the accessible to all goal) be worse or massively subsidized with taxes. Same with cell /internet. Unless you have a magic wand, that's just part of the deal.

[–] nueonetwo 8 points 1 year ago (1 children)

I don't live in Vancouver. Every part of the province that isn't the GVRD has an abysmal transit system.

[–] [email protected] 2 points 1 year ago

And almost all of the rest of the province is far too spread out for a comparable transit system.

Victoria for its population has a pretty solid one. But if you think about how large even a city like Kelowna is, public transit simply isn't an effective mechanism. It's one of the tradeoffs involved in the cheaper, more room/space rural living.

[–] LostWon 2 points 1 year ago* (last edited 1 year ago) (1 children)

When I was there, Vancouver had a transit system that was more or less on par with large cities I saw later like Tokyo or Bangkok. From what I've heard, much of Europe has usable and non-stigmatized transit, as well as being quite walkable. I can't say the same for other parts of Canada I've been or heard about.

[–] [email protected] 2 points 1 year ago

Haven't been to Tokyo but that seems like a wild high bar, I'd be pretty proud!

Toronto also has a really good system (partially because it was so well integrated into city planning back in the day.)

Despite the rural/conservative bent in Calgary, they still had a decent system from my limited time there.