Immigration, Globalisation and House Prices in Canada's Gateway Cities
Titel:
Immigration, Globalisation and House Prices in Canada's Gateway Cities
Auteur:
Ley, David Tutchener, Judith
Verschenen in:
Housing studies
Paginering:
Jaargang 16 (2001) nr. 2 pagina's 199-223
Jaar:
2001-03-01
Inhoud:
This paper begins by examining house price movements in eight metropolitan areas in Canada between 1971 and 1996. At the start of this period there was considerable conformity in price levels among the eight centres, but by the mid-1990s wide disparity in the price structure had emerged, with Vancouver and Toronto (and their satellites) having broken away from the rest as a result of rapid price inflation after 1985. At the same time, the cities showing the most marked gains also suffered the heaviest losses during economic downturns. The geography and timing of rapid price inflation coincided with the onset of heavy and concentrated immigration in Toronto and Vancouver after 1985, and the remainder of the paper considers the relations in these cities between price change and globalisation in general, immigration in particular. In both cities, and especially Vancouver, aside from growth in the provincial GDP, conventional regional and national factors seem to have declining significance in accounting for price movements, while indicators of globalisation, including immigration, exert stronger effects. These effects are consistent not only with globalisation but also with economic polarisation in post-industrial cities.
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