Canada's housing crisis worsens due to rising real estate prices and limited affordable options, exacerbated by NIMBY sentiment obstructing development.
Canada's housing crisis intensifies, with rising real estate prices and a diminishing number of affordable options. A critical issue obstructing growth is NIMBY sentiment, where residents oppose proposed developments in their local area. This resistance stems from fears of increased traffic and noise, reduced property values, and losing familiarity with the surroundings. Localized Real Estate Investment Trusts (REITs) are proposed as a solution to address the crisis, potentially promoting growth and urban densification.
July 10, 2024
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