Here in Canada, we have a really bad housing crisis (at least the major cities Toronto, Vancouver etc.). The housing crisis is beginning to have a serious negative impact on the economy, as companies are having a hard time finding and retaining staff because housing is so unaffordable.
It seems like the housing crisis is affecting many major cities in the U.S. as well. If the housing crisis isn't addressed, what will happen to cities like New York, San Francisco etc.? If the service workers, firefighters, cops, teachers can't afford basic housing, what does that mean for major cities? Could it trigger a recession?
I would love to hear your thoughts.