A Foot in the Door: An Unaffordable Country's Next Steps
TheTyee.ca| Published 03 July 2015
By David P. Ball, Chris Wood and Katie Hyslop
What do St. John’s, Newfoundland, and Vancouver, B.C., have in common? Aside from an ocean view, it turns out both cities have experienced inflows of outside money that have pushed the price of local housing up beyond the reach of many.
They’re about as far apart as Canadian cities can be, but the similarities — and differences — between these two cities’ housing markets illustrate the range of causes contributing to what many are calling a national shelter crisis in Canada. According to the country’s national housing agency, more than one in four Canadians who rent their homes cannot really afford them…