The benchmark of housing affordability has changed in Canada
The Decibel
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Shifting Housing Affordability Standards in Canada
This chapter examines the change in Canada's housing affordability benchmark from 2004 to 2019, addressing the stark rise in home prices and rents compared to income growth. It highlights the implications of using 2019 data, a year of relative stability for many regions, while also considering the subsequent impact of the pandemic and interest rates on housing demand.
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