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Opinion: We need to start swinging hammers to make home ownership affordable for Canadians [Video]

Homes in Toronto's north west area on June 17, 2019.

Fred Lum/The Globe and Mail

Michael Bourque is CEO of the Canadian Real Estate Association

It has been said that the COVID-19 pandemic accelerated many trends that had started beforehand. Think inequality, flexible work arrangements, online shopping and virtual meetings, learning and in real estate, open houses.

It also turbo-charged trends already well under way in housing markets in many parts of Canada. Following the introduction of the mortgage stress test, and then the pandemic lockdowns, buyers started looking further out from urban centres to smaller communities where they could live and continue working.

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But the bigger underlying trend was the growing imbalance between supply and demand, with many “Coming Soon” signs seen outside new developments quickly replaced with those reading “Sold Out.”

At the end of February, 2020, there were 3.8 months of inventory nationally – the first time this measure had fallen below …

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Ecommerce

Adafruit Industries, Unique & fun DIY electronics and kits : - Tools Gift Certificates Arduino Cables Sensors LEDs Books Breakout Boards Power EL Wire/Tape/Panel Components & Parts LCDs & Displays Wearables Prototyping Raspberry Pi Wireless Young Engineers 3D printing NeoPixels Kits & Projects Robotics & CNC Accessories Cosplay/Costuming Halloween Reseller and School Packs Internet of Things - IoT Development Boards Batteries Gift Ideas Feather CircuitPython Circuit Playground Crickit - Creative Robotics Particle STEMMA Machine Learning micro:bit Add-ons & Accessories Bluetooth PPE Microchip ecommerce, open source, shop, online shopping