Canadian Housing Prices
Over the years, the average prices of housing have increased significantly in Canada. The price action of real estate changes significantly due to various factors (Kensinger, 2018). Of all these three cities, Calgary has the most affordable housing prices in Canada. In the 1980s, the prices were relatively, mainly due to the excellent real estate conditions that existed at the time. The price action of housing in Canada can be clearly seen through three significant towns, which are Vancouver, Toronto, and Calgary. For Calgary, the prices decreased significantly during early in the eighties. However, in the mid-eighties, the average prices for housing resources started increasing significantly, particularly in the years 2007 to 2008.
Furthermore, the city of Toronto also experienced relatively stable housing prices between the years 1980 to 1984. However, the prices started rising significantly in between the years 1984 to the year 1989, before dropping slightly. The prices stabilized between 1993 to 1996, before beginning to increase considerably in the year 1999. The price action of housing in Toronto has shown a rather stable price-increments over the years.
Among these three cities, Vancouver currently has the most expensive housing prices in Canada. In the 1980s, the prices of housing in Vancouver shot up before dropping in 1982 and stabilizing all the way through to 1987. However, in 1988, the prices started increasing all the way significantly through to the year 2008. In the year 2008, the prices dropped slightly before increasing significantly through to the year 2010.
Kensinger, J. (2018). Global tensions in financial markets. Emerald Group Publishing.
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