What Would A Housing Crash Look Like?

From Peter Armstrong, CBC News.

It's the question lingering behind every headline. It's whispered among homeowners, would-be buyers and sellers, economists and policy-makers. What actually happens if Canadian real estate prices crash?

On the one hand, a crash might be good for some Canadians already priced out of the market. And even a dramatic 40 per cent drop in prices would set homeowners in markets like Toronto or Vancouver back, what, two or three years?

But there are broader concerns for the market and the economy itself that could prove devastating.

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Lambton-Kent Students to Study Native-Focused English Course.

Tashmoo Avenue, Amjiwnaung Res. Zach Neal photo.

From Barbara Simpson, Sarnia Observer.

In a school board district home to four First Nations communities, a Southwestern Ontario school board is taking the lead in ensuring the culture of its First Nations students and their families is reflected in the curriculum it teaches.

All Grade 11 Lambton Kent District School Board (LKDSB) students will start taking a mandatory native-focused English course this fall, replacing English course offerings that have largely focused on Shakespeare and other traditional writers.

Students will instead have a chance to read, write and discuss the works of indigenous writers, as well as learn about indigenous issues.

“It's not just the right thing to do, but from an engagement point of view...if (indigenous students) see themselves reflected in the curriculum, we think it's good for student engagement,” said Mark Sherman, a superintendent of education with the Lambton Kent District School Board.

An estimated 1,700 students are expected to be in Grade 11 this fall at the public school board that serves both Sarnia-Lambton and Chatham-Kent, as well as four surrounding First Nation communities.

Those communities include Aamjiwnaang First Nation, just outside of Sarnia; the Chippewas of Kettle & Stony Point First Nation, west of Lambton Shores; Delaware Nation at Moraviantown, near Thamesville; and Walpole Island First Nation, near Wallaceburg.

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Sarnia Housing Starts Up Due to Demand.

From Josh Boyce, Blackburn News.

The Sarnia area housing market is heating up with the spring weather.

In April, work began on 27 single family homes, compared to the month’s average of 13 over the past decade.

Canada Mortgage and Housing Corporation Market Analyst Anthony Passarelli says it’s due to supply in the resale market not keeping up with demand.

“Currently in the region, and most parts of Ontario, you see that there’s a really low supply of homes listed for sale relative to the amount of buyers out there,” says Passarelli. “When that happens, it makes it easier for new homes to be sold because there’s a shortage of homes listed for sale.”

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