Canadian real estate is rarely this out of reach, and it’s always followed by recession. That was the take from BMO, noting further erosion in the Bank of Canada (BoC) Housing Affordability Index (HAI) in Q3 2023. Higher rates are finally slowing down the pace at which it worsens, but it hasn’t been this bad […]
Canadians briefly thought the country’s central bank was owning up to, and correcting its mistakes. That pipedream had a bucket of cold water poured on it Thursday, as Bank of Canada (BoC) deputy governor Gravelle’s speech referred to a “long standing housing supply issue.” Adopting a popular but false political narrative didn’t sit right with […]
The Canadian real estate correction has produced a glimmer of hope in young adults. In a worst case scenario, Desjardins sees home prices falling as much as 30% in a deep recession. It still won’t be enough to restore affordability—especially in Greater Toronto. The institution warns that housing is costing Ontario its edge, as its […]
A large share of Canadians feel like they’re just a few bucks away from financial destabilization. Statistics Canada (Stat Can) released the results from its Canadian Social Survey on Quality of Life and Cost of Living for Q3 2022. The cost of living crisis has made life unstable for nearly a third of households, with […]
You did it! Your household earns the median income for Canada, and you convinced your boss to work from home. Now you just need to find a home you can afford, in the second largest country in the world. Easier said than done. Don’t worry, we got you. We hope you like small and remote […]
Canadian real estate prices may be slowing now, but the damage got even worse in the year’s first quarter. The Desjardins Affordability Index (DAI) reached the worst level recorded in Q1 2022. Home prices continue to become more overvalued, even as incomes fall. The Desjardins Affordability Index (DAI) The DAI is an inverse affordability index […]
Canadian real estate is disconnecting from reality at a breakneck speed. RBC updated its affordability index for Q4 2021, measuring the share of income needed to buy a home. Housing affordability across most of the country is now out of reach for most households. Buying a home is nearly an “impossible” feat, according to one […]
