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Trends in the Housing Market — Vancouver, Toronto, London & Australia Housing Crisis

1,144 views · Published 30 October 2016 · 26:46 · Indexed 1 November 2026

Channel: Mike Martins · 2016 · News & Politics

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Hello people, and welcome to another special edition of Trends in the Housing Market, broadcasting from Vancouver, British Columbia, Canada, on the second-last day of October 2016.

And today I'm armed with the fart machine. 😂 If an article sounds ridiculous, you know what's coming.

This episode takes us around the world because I'm becoming increasingly convinced that what we're experiencing in Vancouver isn't simply a Vancouver housing story. Similar affordability problems are appearing in Toronto, London, Australia and major American cities, although the causes and circumstances aren't necessarily identical.

We start in Britain, where expensive celebrity homes are reportedly becoming increasingly difficult to sell following changes to stamp duty on high-value properties.

Then we're heading to Ontario, where younger Canadians and Millennials are facing rapidly increasing housing costs around Toronto. Families have already been pushed farther away from the city in search of affordability, but even communities outside Toronto are becoming expensive.

From there, we look at controversial reports and allegations involving organized crime, Chinese capital and Canadian real estate. These are serious claims and I'm looking at what was being reported—not claiming that every allegation has been proven.

Then there's Airbnb.

In London, concerns are growing that properties which would otherwise provide long-term accommodation are being moved into the short-term rental market because owners can potentially earn higher nightly rates from visitors. If enough properties leave the traditional rental supply, what happens to the people who actually live and work there?

Australia is another major part of today's show. A housing commentator is arguing that prospective buyers may be better off continuing to rent and waiting for prices to weaken rather than jumping into an overheated market.

Back in Canada, we're discussing Toronto's affordability crisis and my belief that foreign investment leaving Vancouver following British Columbia's new tax could increasingly move toward Toronto and Seattle.

We also visit the United States, where we're looking at the strange contrast between housing affordability problems and the amount of residential space devoted to increasingly large garages. Then there's Milwaukee and the issue of eviction, poverty and families spending enormous percentages of their income simply keeping a roof over their heads.

Different countries. Different cities. Different policies.

But one recurring question:

Why is housing becoming increasingly disconnected from the incomes of the people who actually live there?

Renters, keep saving.

Your time may come.

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