Comment 39367

By Kiely (registered) | Posted April 01, 2010 at 09:20:19

"The gist of the article is that the oversupply of homes will cause real estate values to fall across the board, making the high demand urban residences more affordable..." - highwater

But what this article is saying is you will have essentially two markets. A low demand suburban market and a high demand urban market. I don't see a wholesale shift from suburban to urban living driving down urban house prices. I wouldn't count on a "cross the board" drop either low demand markets coexist right next to high demand markets now, (e.g., Burlington and Hamilton) why will this situation be any different?

Do some people not realise the negative effects on our economy and society this will have? Some folks here seem to be quite eager for this "shift" to happen. Careful what you wish for, if and when these shifts happen it will be the middle and lower class that get screwed. We need to be thinking of ways to avoid this: urbanizing suburbs, mass transit solutions, alternative energies, smaller more efficient vehicles, etc… Sitting back eagerly wringing our hands in wait for the collapse of the burbs will have significant consequences.

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