Canadians complain about the price gap between U.S. and local stores, but here’s the biggest price gap of them all: housing.
According to an analysis from BMO Capital Markets economist Doug
Porter, Canadians now pay 62 per cent more for housing than Americans.
“A 62 per cent gap is simply not sustainable for long,” Porter wrote in a note to clients.
Until about 2006, Canadian and U.S. house prices tracked each other
closely for at least 25 years, Porter wrote, but that all changed with
the bursting of the U.S.’s housing bubble. House prices in the two
markets have been moving in opposite directions for much of the past six
years.
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