A3.2 WHAT
SHOULD WE BE TELLING THE AMERICANS ABOUT HOW TO AVOID SPECULATION BASED ON
“ENDLESSLY-ESCALATING” REAL ESTATE VALUES?
The comments
here apply to the NCR and everywhere else in Canada.
You cannot rely just on stimulating the
housing market to stimulate the economy as a whole. Stimulating the housing
market will help to create jobs only in the industries that cater to it, in the
domestic economy, but will do nothing for stimulating the exports on which all
trading nations – including Canada - depend.
For obvious reasons, not everybody - in
any national workforce - can work on designing and building houses and other
types of residences.
Most of the work done in all the various
trades and professions has nothing whatever to do with housing. A few examples,
chosen at random: aerospace and other engineering, oil industry, chemicals,
food processing, software, cars, accounting, oil and gas production, lumber,
ICTC sector, computer programming, website design
Assumptions about “endlessly-escalating”
real estate values are not valid unless they are constantly supported by jobs
being created in those parts of the economy that do not cater directly to the
building of private residences.
Questions?
Comments? E-mail Robert T. Chisholm, Associate Member OSPE, at attention_to_the_facts@hotmail.com
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