In April 2021, TD chief economist Beata Caranci wrote a paper with an interesting title.

It’s called “Canada’s Housing Market and The Big Bang Theory: Occam’s Razor and Schrodinger’s Cat”.

In the paper, Caranci makes a number of observations, and one of these is that real estate has produced higher returns than the stock market over the last 20 years.

“Canadians don’t shy away from housing debt because more and more people see it not just as an ownership opportunity and store of value, but as a path towards wealth creation that carries less volatility than investing in the stock market,” Caranci wrote.

A recent home sale on the East Side of Vancouver is a good example…read more.