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Canadian Home Prices "Need" To Be High To Pay For Retirements: PM - Better Dwelling
(betterdwelling.com)
this post was submitted on 30 May 2024
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The value of houses are tied to the value of land, and you can't make (much) new land. That's why houses in economically advantaged cities are more expensive than houses in economically disadvantaged cities or out of the way places (unless those places are desirable for being out of the way).
That said, we can do things to get more people per square km in cities, even without going to high rise apartments. And certainly, not promoting more effective housing options hasn't helped the price of homes, either.
In many municipalities the majority of residential zoning only allows single family homes, sometimes with minimum lot sizes, set backs and parking minimums. We've made it legal and incentivized to only build spread out and inneffecient housing regardless if thats what the city or people really needs or not.