Housing Affordability

Canada needs "a big surge of supply" to stop runaway house price growth, and that might happen when the pandemic ends.
The COVID-19 pandemic "changed the game tremendously."
The number of condos for sale has quadrupled in the space of a few months, and many more are on the way.
That doesn't mean housing is becoming more affordable, advocates warn.
And now the Bank of Canada is putting "kerosene on the fire" with interest rate cuts.
Canada's priciest cities are growing even less affordable for their populations.
CMHC's program to help first-time buyers has seen little interest.
But Toronto housing has become less affordable than London, San Francisco and Silicon Valley.
Only 2.2 per cent of apartments and one per cent of condos are available on the rental market.