52 per cent of Canadians said reducing prices was necessary, while only 35 per cent felt prices should be kept stable. Thirteen per cent of respondents were unsure.
…
Carolyn Whitzman, senior housing researcher and adjunct professor at the University of Toronto’s School of Cities, said it was noteworthy that 47 per cent of people aged 55 or older also wanted housing prices to decrease. She didn’t expect so many older Canadians to feel that way, especially compared to 51 per cent of people aged 35-54 and 59 per cent of 18-34 year olds wanting the same outcome.
…
Federal Housing Minister Gregor Robertson sparked controversy earlier this year when he said that prices should stay stable, rather than drop.
…
However, it would take decades of stagnation for wages to grow enough to a point where housing becomes affordable, Ms. Whitzman said.
This is a really big deal. People in that age bracket are almost or totally done their careers. Their savings, pensions, and houses are all the wealth they’re going to get. They’re going to need those to fund their retirement.
For them to say their house is worth too much is a big deal.
It is. They vote as well, so hopefully politicians will do the right thing and start building affordable below market housing.