Housing affordability is dictating a lot in young Canadians\u0027 lives from where they live to when they get married and have children. Read on.
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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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