A standard house costs almost twice as much in Canada as it does in the U.S.

Since 2020, Canada’s home prices have risen 30 per cent

Advertisement 3In Vancouver and Toronto, it would take the average household saving ten per cent of their income for 431 months and for 340 months, respectively, to put together a minimum down payment on a non-condo home,Aging in place: How Baby Boomers are breaking Canada's real estate market

The plan quickly prompted skepticism. “Dollars to doughnuts this won’t happen, and not for lack of good intentions,” Robert Kavcic, senior economist with the Bank of Montreal, wrote in a note to investors. “The main reason we may see average prices falling in the short run is a shift to more apartment sales rather than a broad-based price decline,”“We are unlikely to see a decline in the value of individual homes,” states Batch.

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