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this post was submitted on 16 Mar 2024
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americans can't afford to buy homes, but canadians are FUCKED
canada plays the progressive moral high ground to whitewash their broken capital flow magnet scheme.
It is not that hard to look good on the outside when your neighbour is the US
I had such a rosy view of Canada before I lived there (just the usual ignorant American idealism about how its a land of free healthcare and better environmental stewardship and better relations with indigenous people....). The US is not a paragon of indigenous relations by any means but holy shit the way that First Nations people are treated in the field I work in as far as "government to government" relations go is absurdly racist and paternalistic compared to how it works in the US (again, not that murica is a model for this in any way).
Three resource extraction companies in a trench coat.
Wait, really? I must be missing something here. Even though it's surprising to me, I can believe that Canada is actually a bit worse off than the US with respect to housing prices. But not only is this a drastic difference (hundreds of percent), this graph implies that from 1989 to 2005 and again from 2008 until covid, the US had a higher real disposable income than the real housing prices and that disposable income vs housing prices in the US have been pretty much in parity the whole time. Is it something like the wealthiest percentiles are skewing the data for the US to make it appear like people in general can afford homes? (GDP shows the economy is great actually!) If that's the case, why isn't the same true of the Canadian data set?
i'm not sure what the y-axis is meant to indicate. looks like the whole graph is a % compared to 1975? but the absolute values of the red and blue line might not have been the same to begin with. I guess you'd have to ask the Dallas Federal Reserve which is the source?