Home Affordability is still Challenging Despite Mortgage Rate Cuts in Canada
Canada’s housing market is among the most unaffordable in the world, with one of the highest house-price-to-income ratios among OECD (Organization for Economic Co-operation and Development) member states. Between 2000 and 2021, housing prices soared over 355 percent in Canada, while median nominal salary incomes for Canadians increased by only 113 percent.
