Rising prices, shrinking supply: The higher house prices get, the fewer homes there are on the market. The situation is more extreme in Vancouver, where a typical house now costs 3.5 times a typical condo. As prices skyrcoket, fewer homeowners are upgrading, and fewer homes are coming on the market. “There’s no get-out-of-jail-free-card on this board.” — TD Bank chief economist Beata CaranciAnd even if a recession tanked the housing market, it might not help. Today, a detached home costs more than two times a typical condo, the TD Bank report found.

Source: Huffington Post May 28, 2016 17:39 UTC