There has been a lot of buzz recently about the Canadian housing market. Much of the recent financial news revolves around a possible housing bubble. The concerns have mostly had to do with dramatically rising housing prices in Vancouver and Toronto. According to The Huffington Post, although the population in Vancouver has dropped by 5% in recent years, the housing prices have almost doubled. These statistics make no sense if you’re looking at the market through the lens of supply and demand. So, what exactly is going on?
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