The year-over-year growth rate in the prices of new homes accelerated its rate of increase for the first time in 16 months in December. The overall Canadian year-over-year rate rose 6.2 between December 2006 and December 2007. This is mainly due to a strong housing market in the prairie provinces.
It is great to see that Canadian Economy has become so much stronger in the past few years. With the rise in the value of the Canadian dollar, and a growing demand for houses, Canada's economy has reached a high. While the United States Economy continues to decrease, we find ourselves more and more prosperous in Canada. The problem that faces us with this boom in housing prices is that for low paying jobs it becomes increasingly difficult to purchase a new home in larger cities. These jobs are very important to the cities' infrastructure however if people working these minimum skill jobs and cannot purchase homes, we will find it increasingly more to find workers in these necessary jobs. The only available options are to make a better transportation available into the city so that these workers can buy outside of the city. The other option is to pay more to these workers so that they can afford a home in the city. I do not like the second option as these unskilled workers should not receive more than necessary for a job that could be done right out of elementary school. We must find a way to provide affordable housing to minimum wage job workers, while still gaining strength in the economy.
http://www.cbc.ca/cp/national/080211/n021102A.html
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