As we know, real estate is a big factor in the health of the economy. This week I have read an article called Rethinking the home ownership dream on the CBC website. The article was written by Alison Smith on February the 3rd. lately I have an interest with the real estate in Canada so this article really spoke to me. However even if you are not interesting on the subject what I read is very informative and interesting. Young readers would be wise to read it.
Right how real estate is very much over priced. People are spending half of their paychecks on mortgages and according to this article houses are prices 60% over what they should be. So they are unable to save money for big purchases and save for higher education which is truly the best investment for everyone.
If the market cashes again due to inflated real estate markets businesses may not be able to survive as we have seen before. It is important to make sure that market is healthy, people are buying and selling at prices that allow them to be able to spend money other where.
http://www.cbc.ca/news/business/rethinking-the-home-ownership-dream-1.2519201
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