Script

Christsen Penalosa
Lack of housing in Canada

High demand, Low availability:

-One of the most prevailing issues with the Canadian housing market would be the appalling
ratio of the availability of the houses on the market to those who seek to buy houses.
This issue has driven the housing prices to skyrocket, thus making purchasing a house in the
last few years a multi-generational burden with mortgage rates fixed from an era when the
average homeowner was able to pay off his annual mortgage within 6 months. The average
today will take around 25-30 years to pay off mortgage.

Large Gap between earnings and housing:

-Another reason why people struggle to buy a house would be the cost of living going up directly
in the last few years. Most average Canadians live paycheck to paycheck, leaving little leeway
for extra costs associated with the standard of living( groceries, fuel costs, insurance, etc.).
many blue collar workers ( Retail workers, clerks, garbage collectors, etc.) struggle to pay for
everyday living expenses while paying long term obligations with banks and other hard money
lenders. As inflation outpaces the minimum wage, less and less people are able to afford
housing, as the minimum wage becomes insufficient to live comfortably, with one major financial
loss that could result in homlessness.

Undesirable housing
-Housing near shopping centers, public transport, work, or school has become less accessible.
With places listed closer to prospective places having either limited space such as apartments
or simply priced beyond the capacity a person is able to afford for the average person.

Unavailability of single detached homes

-The standard style of living in Canada are single detached homes but now has been in decline
as apartments outpace them in supply. The problem with single detached homes is zoning
regulations and lack of space in many parts of the region. The problem with apartments is that
families prefer single detached homes for more space. Another compounding issue with the lack
of single family homes would be the over competitive house building market. Companies build
town houses in terms of the financial outlook, making more money per square foot of land when
compared in traditional single family units.

Possible Solutions:
-The ban of foriegn investors for two years sees that no one outside of Canada can purchase
property so that Canada’s housing market can chill a little.
-The housing issue in Canada is a difficult one to solve. This requires issues, such as zoning
and cost to be addressed. Rent Control and Limitation of Land Speculation
-Devote designated areas with compact housing for international students for studying.

-Favoring for municipal housing projects for affordable and efficient living spaces for low income
families and individuals as they need it the most.