Found 2 blog entries tagged as Canadian housing crisis.

The Great White North has long been celebrated for its stunning landscapes, diverse culture, and vibrant cities. However, beneath the surface of this picturesque image lies a pressing issue: the Canadian housing crisis. As rental units become scarce and homes sell well above their asking prices, the dream of affordable housing seems more distant than ever. In this in-depth analysis, we'll unpack the factors contributing to this crisis and explore potential solutions.

The Rental Paradox: A Scarce Supply

Rental units are the heartbeat of urban living, providing flexibility and accessibility. However, the scarcity of available units has turned this dream into a nightmare for many Canadians. Rapid urbanization, coupled with limited construction…

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housing shortage affordability crisis

Is Canada’s housing affordability crisis as bad as it was a year ago? No.

Is Canada’s housing affordability crisis still ongoing? Yes.

The talk of affordability has dissipated in recent months as prices continue slipping from their peak earlier this year. Many financial institutions are anticipating declining prices heading into the new year, with projections as deep as 25 per cent.

While this is a considerable drop in home valuations, prices are expected to remain above the pre-pandemic levels. This is especially true in many major urban centres, such as Toronto and Vancouver.

RBC published its latest housing affordability report that confirmed the situation has not been this bad since the early 1990s. The…

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