Middle Class and Metro Areas

housing crisis: This seems to be changing, now that swelling property values are not only displacing the poor, but the middle class. "Progress" has been replaced by "housing crisis." Many neighbourhoods, municipalities and even metro areas have experienced annual double-digit house price inflation over the past decade, forcing many middle-income individuals and households to make tough choices about where they want to live, according to Huffington Post Canada. As you can imagine, there are many folks very angry about the lack of affordability, and they want a solution. Although there was always concern about displacement of lower-income residents, "there will be losers in the name of progress" was a common refrain. The battle cry calls for someone to be held accountable for the messy housing situation, especially in Vancouver and Toronto, where prospective home buyers face the greatest homeownership hurdles. But who really is to blame for high housing prices Interest rates:The statistic that everyone evaluates, writes about, or complains about when discussing residential real estate is the average end-selling price. Although there is much debate about the impact on the housing market should the cost of borrowing increase, the low interest rate environment is expected to remain for several more years. However, with the decline in interest rates, homebuyers are focusing on their monthly carrying cost only, which has not spiked like the end-selling price. (www.immigrantscanada.com). As reported in the news.