In Vancouver, it takes an average of 15 months to get a residential development approved—nearly five months longer than in neighbouring Burnaby.
Vancouver’s growing housing costs are outstripping income increases in the city.
Housing markets in Canada’s largest cities are once again the subject of national news, this time because of an increase of the minimum down payments for government-backed mortgages.
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.