Posthaste: Housing affordability is changing the path of young Canadians' lives
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Many say Canada is experiencing a housing crisis brought on by an extended period of low interest rates, strong demand from younger Canadians and immigrants, and chronically depressed supply.Article contentto restore a semblance of affordability, according to the Canada Mortgage and Housing Corp. Low supply might be the main reason housing affordability has gone off the rails.
The Desjardins report said home prices as a share of disposable income rose to record highs in 2022, and that the situation likely worsened given prices for resale homes in Canada have“The data is clear: Canada isStatistics Canada reported earlier this year that housing affordability and rising house prices “disproportionately” influenced young people’s decision to move.
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