Unlocking the Door to Homeownership
Discussing Housing Affordability in Canada
The data from Canada’s latest Housing Market Index (HMI), published quarterly by the Canadian Home Builders’ Association (CHBA), fell yet again this quarter to new record lows for housing purchase/start prospects of all housing forms for ownership. CHBA’s single-family HMI reached a low of 23.3 out of 100, while the multi-family HMI was 16.8. The…
DCs are upfront fees charged by municipalities and that are initially paid for by developers for each new unit they build, but ultimately get paid for by the buyers of new homes. They are supposed to be charged to cover the proportionate infrastructure costs such as new roads and water and sewer connections, but have grown to cover much more than their fair share.
Rents are skyrocketing. House prices are too high. Many Canadians aren’t sure if they’ll ever be able to afford their first home. Others will have to leave their city in search of more affordable solutions. Housing connects us all. And not enough housing affects us all. It impacts affordability and rental prices, and hurts the…