It’s Election time and the ridiculous political statements about “fixing” the housing market are flying.

Politicians, and articles like this, always miss the point.

1) They always focus on the DEMAND side and not SUPPLY. Real estate is a free market, and when demand far outstrips supply prices rise dramatically. That’s Simple economics, like a kid with a lemonade stand. If a problem is perceived, the only solution is to increase supply.

2) There is nothing to fix. Toronto (and by extension Ontario) is a world class spot and real estate prices reflect that. Just like Manhattan or Paris or Tokyo. The notion of Johnny Appleseed pulling himself up by his bootstraps is touching, but he ain’t buying a penthouse on Park Ave.

Four more years, four more years!