The best way to increase housing affordability is to build more homes.
Toronto had 360 housing units per 1,000 residents in 2020, well below the national average of 424.
There are 360 homes for every 1,000 GTA residents—well below the Canadian average.
Vancouver is among the most unaffordable cities in the world.
The Horgan government plans to build 9,000 housing units for middle-income earners.
Housing prices increased 111 per cent in Toronto and 82 per cent in Vancouver.
In some Canadian cities, housing costs grew more than 50 per cent faster than incomes.
Rising incomes and low interest rates have generated tremendous demand for housing across the country.
Cities that build more homes when they’re most needed tend to see less home-price volatility.