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U.S. cities increase affordability while housing costs rise in Canada’s major centres
In some Canadian cities, housing costs grew more than 50 per cent faster than incomes. ...
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Changes in the Affordability of Housing in Canadian and American Cities, 2006–2016
By bringing together workers, capital, businesses, and ideas in a compact geographic market, cities promote improved productivity performance, and thereby faster economic growth and higher real incomes for workers. The affordability of housing in a city ...
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Most effective pro-housing reforms have nothing to do with more government spending
According to a recent poll of British Columbia parents, 65 per cent of respondents believe it’s likely their child or children will have to move away from their home municipality due to the high cost of living. Of course, B.C.’s sky-high ...
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Bank of Canada says housing crunch threatens Canadian economy
In a recent speech to the Toronto Region Board of Trade, Bank of Canada Deputy Governor Carolyn Wilkins presented an overview of the challenges facing Canada’s economy. Among the issues she discussed were impediments to wage growth. Of ...
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Ontario throne speech ignores housing affordability
In the Greater Toronto Area, home prices are 50 per cent higher than they were during Ontario’s last election in 2014. ...
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Interest Rates and Mortgage Borrowing Power in Canada
One often-overlooked contributing factor to rising home prices in Canada is mortgage interest rates. Between 2000 and 2016, the prevailing mortgage interest rate declined from 7.0 percent o 2.7 percent. This decline resulted in a 52.9 percent ...
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By targeting foreign buyers, Queen’s Park misses the point
Appeared in the Toronto Sun, July 30, 2017 According to a recent announcement from Queen’s Park, 4.7 per cent of properties purchased in Ontario’s Greater Golden Horseshoe (between April 24 and May 26) were acquired by foreign individuals or corporations. ...
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Red tape in Calgary stifling housing supply as home prices soar
Average house prices up almost 140 per cent in Calgary and more than 160 per cent in Edmonton. ...
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How to make Vancouver more affordable? Look to Texas
Vancouver’s growing housing costs are outstripping income increases in the city. There’s no single, easy to spot cause for Vancouver’s growing housing costs. Low interest rates, population growth, and the region’s liveability encourage ...