Tag: Canada housing affordability
-
Canadians Would Pay 75% More Interest With 40-Year Mortgages, Says PBO
Canada is once again debating longer mortgage amortizations as a way to fix housing affordability. But a new analysis from the Parliamentary Budget Officer (PBO) warns the idea may create more problems than it solves. While a 40-year mortgage lowers monthly payments, borrowers end up paying 75% more interest over the life of the loan. The report…
-
Canadian and US Real Estate Affordability Improved, Still Near Record Lows
Housing affordability is finally showing signs of life in both Canada and the United States. A new report from BMO Capital Markets shows that falling home prices and lower borrowing costs have pushed affordability to a multi-year high in both countries. However, the bank warns that the improvement is modest and affordability remains near multi-generational lows. In…
-
How Policy Reform Could Help Solve Canada’s Housing Crisis – Concordia University Study
Canada’s housing affordability crisis continues to intensify, but new research from Concordia University suggests that targeted policy reform could have a measurable impact on supply, and help ease rising prices in major cities like Toronto, Vancouver, Montreal, and Calgary. According to the Canada Mortgage and Housing Corporation (CMHC), Canada needs 3.5 million additional housing units…
Canada Housing Market 