— September 8, 2017
Between 2000 and 2016, average mortgage interest rates fell by almost two-thirds.
— August 30, 2017
Between 2011 and 2016, the city gained more than 116,000 new residents.
Affordability in Toronto has eroded to an all-time low, with prices jumping by more than 50 per cent in the past five years.
— August 8, 2016
Unfortunately the discussion on housing affordability has been dominated by handwringing over foreign homebuyers and low interest rates.
When I first came to Alberta a quarter-century ago, vacancy rates in Calgary and Edmonton exceeded 10 per cent. In Edmonton, where I lived in 1988, landlords often gave one month free on an already cheap 12-month lease. Sometimes utilities and cable were included.
With housing prices at an all-time high in Vancouver, there was a lot of buzz about the interim report of the Mayors Task Force on Housing Affordability. While the Task Force acknowledged the need to streamline and create more certainty and clarity in the regulatory process, the City of Vancouver will need to significantly reduce land-use restrictions and the regulatory burden on developers to truly help make housing more affordable.
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