The Bank of Canada and other central banks around the world have artificially lowered interest rates, making investment and risk-taking much cheaper.
Higher home prices are strongly associated with restrictive land-use regulations.
In Vancouver, it takes an average of 15 months to get a residential development approved—nearly five months longer than in neighbouring Burnaby.
In an effort to make housing more affordable in Greater Vancouver, B.C.’s latest budget exempts newly-built homes worth up to $750,000 from the property transfer tax.
The joint economies of the Toronto, Hamilton, and Oshawa metro areas are home to more than one in five Canadian jobs. Indeed, this region deserves its reputation as Ontario’s Greater Golden Horseshoe.
In Calgary, home prices have more than doubled over the past decade. Despite the recent economic slowdown, more people are moving to Alberta than leaving it.
Canada’s largest cities are growing rapidly and what were once sparsely populated rural areas are quickly becoming city neighbourhoods.