
This is how Canada’s housing correction begins - bushido
https://www.macleans.ca/economy/realestateeconomy/this-is-how-canadas-housing-correction-begins/
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NorthOf33rd
This past summer I was looking at relocating for a job at article.com (they
seem great by the way,) and I ultimately ended up turning it down because of
the insane cost of housing in Vancouver. It would have been a significant pay
cut and quality of life change, even with the decent raise that the package
came with.

As an outsider, it certainly seems like time for a correction. I wish I could
have taken that job, and now that I see this, I wish I had, as I'd be well
positioned to scoop up some of that price corrected property.

The other thing that I found fascinating about this, and this is obviously
from the view of an American, is that the 30 year mortgage is pretty unique.
Historically that seems obvious now. But, I have a hard time imagining buying
a house with the kind of risk that comes with an adjustable rate mortgage,
that seems inherent in the Canadian mortgage model.

