As I take possession of my new home in the red hot Moncton, New Brunswick market, where values have more than doubled in five years, I am left to contemplate where housing prices are heading — and why. After the 2008 housing crash, the housing market across North America not only rebounded, but exploded. Since I sold my home in Guelph, Ontario, in 2010, it has roughly tripled in value. The purchaser was my immediate neighbour, who wanted to expand his rental portfolio. It was a sign of what was to come.
Spot on, David! Governments around the world need to step up and beef up laws and qualifications for the purchase of residential properties. AirBnB was created to give homeowners a bit of cash when on vacation. As you pointed out, the vultures soon caught on and turned it into a circus!! Many neighbors complain, but as the owner never lives there, he/she doesn't have to answer to irate neighbors. Young people are being priced right out of the market. All levels of government must act! This trend needs to be stopped!
Spot on, David! Governments around the world need to step up and beef up laws and qualifications for the purchase of residential properties. AirBnB was created to give homeowners a bit of cash when on vacation. As you pointed out, the vultures soon caught on and turned it into a circus!! Many neighbors complain, but as the owner never lives there, he/she doesn't have to answer to irate neighbors. Young people are being priced right out of the market. All levels of government must act! This trend needs to be stopped!