Was the real estate bubble a good thing? Journalists who take the part of the real estate business tend to write as if it was, for example this Journal piece reassuring us that prices will be even higher by 2022. Why is this good news?
This is a serious question. Is it good for an economy to have the cost of ownership out of reach for many people, forcing rentals also out of reach?
Updated to add: Even though that last piece talks about a slowdown from the pandemic, this piece in Metro says ten thousand new rental units are expected to become available this year, despite which the housing crisis is expected to continue. There’s various discussions in the item about why this is so, one being that the new units will mostly be tiny and thus unsuitable for families. Not quite mentioned is that brand new units are also likely to be expensive for their size and thus, of course, out of many folks’ reach.
DeWolf 11:04 on 2020-06-25 Permalink
Things like this (not to mention Bills 21 and 61) make it seem like the CAQ is pushing us towards a new Grande Noirceur. Keep the public in the dark, promote a kind of conservative nationalism, undo checks and balances, pave the way for big business, all while the premier plays the role of a good-natured mononcle.
Ian 11:09 on 2020-06-25 Permalink
If I thought Legault was modelling himself after anyone, Duplessis would be the first person to come to mind. Populist, paternalistic bigot looking to keep Quebec from evolving? Check, check, check and check.
Myles 11:28 on 2020-06-25 Permalink
Absolutely, Ian. One of the CAQ ministers (McCann?) saying Quebecers needed to stay docile was one of the best examples I’ve seen of a politician accidentally saying how they really feel out loud.
Kate 22:52 on 2020-06-25 Permalink
Myles, it was Deputy Premier Geneviève Guilbault.
Kevin 09:51 on 2020-06-26 Permalink
Most of the data is still coming in on paper and fax, so I’m of the opinion that a bunch of bureaucrats have decided it’s just too hard to keep doing this when many people are on vacation.
I mean, it’s not like anyone has ever heard of a group email or anything /s
DeWolf 15:29 on 2020-06-26 Permalink
Looks like public and media pressure worked: the new health minister just announced that daily updates will resume on Monday.