Canada’s Housing Affordability Crisis Deepens

Housing affordability across Canada just took another hit, with 12 out of 13 major markets seeing price dips—but borrowing costs are rising, making it harder to buy. Mortgage rates climbed to 4.47%, and the stress test hit 6.47%, squeezing buyers even where prices softened. Experts blame a decades-long mismatch between wages and housing costs, accelerated by the pandemic, with supply limits and zoning rules locking in the problem. Real estate agents report growing frustration, especially among younger buyers who face soaring prices and rely on family support or extra jobs to get in. Even downsizers are shocked by maintenance costs. Fixing this won’t be quick—some say it could take decades. Government programs help a bit, but they don’t solve the core issue: affording the down payment and ongoing costs. The pressure remains, driven by rising rates that shrink borrowing power, even as prices soften nationally. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/00114f66130a3a18