Tag: housing
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Canada Needs to Double Home Construction to Restore Affordability by 2035, Says CMHC
CMHC: 4.8 Million New Homes Needed to Close Canada’s Affordability Gap In a newly released report, the Canada Mortgage and Housing Corporation (CMHC) says that Canada must double its current pace of housing construction to restore affordability levels last seen in 2019. That means building between 430,000 and 480,000 homes per year– both in the…
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Calgary Still Short 42,000 Homes Despite Record-Breaking Construction Efforts
Calgary may be leading Canada in housing starts, but it’s still nowhere near closing its housing gap. According to the city’s chief housing officer Reid Hendry, Calgary is on track to be short 42,000 housing units by the end of 2025, despite building more new homes than ever before. The update comes from Hendry’s latest…
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Toronto Now One of the Least Affordable Housing Markets in the World, Report Finds
Toronto has been ranked among the least affordable cities globally in the latest Global Cities Index by Oxford Economics. Experts say that without bold, immediate policy reform, the housing crisis will continue to push families and first-time buyers out of the market. Toronto Residents Spend More on Housing Than Almost Anywhere According to the 2025…
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Canadian Home Prices Have Risen Nearly 7x Faster Than Wages Since 1981
A new report confirms what many Canadians have felt for years: real estate prices have far outpaced wages, making homeownership increasingly out of reach for younger generations. According to Statistics Canada and data compiled by Better Dwelling, real home prices in Canada increased by over 163% from 1981 to 2024, while median real wages for…
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Toronto Moves Forward on Citywide Upzoning for Sixplexes
Toronto is one step closer to legalizing sixplexes in residential neighbourhoods, after the city’s Planning and Housing Committee voted in favour of expanding multiplex permissions to allow five- and six-unit dwellings across low-rise areas. If adopted by full council later this month, this change would allow detached houses across the city to be redeveloped or…
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Toronto Real Estate Market Update – June 2025
The Toronto housing market is stabilizing in June 2025 as high interest rates, rising inventory, and shifting buyer demand cool what was once Canada’s hottest real estate scene. While some property types are seeing modest price declines, Toronto real estate remains expensive and competitive in key neighborhoods. đź“Š Toronto Housing Prices – June 2025 According…
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Why Nearly 1 in 3 Canadians Are Retiring with Mortgage Debt
Nearly 30% of Canadians approaching retirement in 2025 will still carry mortgage debt. Discover why retirement is changing – and how downsizing, delayed homeownership, and rising costs are reshaping plans.
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Canadian Housing Affordability: Which Cities Are Still Under $500K in 2025?
With rising interest rates and home prices creeping up in certain markets, many Canadians are asking:“Is it still possible to buy a home under $500,000 in 2025?” The answer is yes. While prices in Vancouver and Toronto continue to push past the million-dollar mark, other cities across the country still offer affordable homeownership options—especially for…
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The Average Toronto Household Now Spend 71% of Their Income on Housing – Up from 50% a Decade Ago
Toronto’s housing market has reached a critical point, with the average household now allocating approximately 71% of its pre-tax income to cover housing costs, including mortgage payments, property taxes, and utilities. This marks a significant increase from a decade ago, when households spent around 50% of their income on housing .​ The Escalating Cost of…
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New Data Shows Ontario’s First-Time Homebuyers Are Now 40 Years Old
If you’re thinking it’s taking longer to break into the Ontario housing market, you’re not alone- and the stats back it up. The median age of first-time homebuyers in Ontario has jumped from 36 to 40 over the past decade, according to a recent Teranet report, a clear sign of how affordability struggles are reshaping…
Canada Housing Market 