Articles

The most recent federal census found that 33.5 per cent of Canadians were renters. Those rental properties are owned by individual landlords, as well as corporate and institutional investors like Real Estate Investment Trusts (REITs) and pension plans.

Over the past few years, it has become increasingly challenging for Canadians to buy new homes, and maintain payments on homes they have already purchased. The cost of living, higher interest rates, and the tight housing supply in certain Canadian cities have all contributed to the challenge. Further, according to a report1 from the Canada Mortgage and Housing Corporation (CMHC), more than 1.2 million mortgages are coming due in 2025, meaning many Canadians will be renewing mortgages, potentially at higher rates than when they first qualified for them.

The Canadian housing market has been a hot topic of conversation for years, with booming house prices, gyrating interest rates, and a broader concern over affordability. In this article, in addition to pointing out the general topics of unaffordability and rising house prices, we also want to study past levels of affordability compared to today, and how generational buying waves have played an important role. In the sections following, we will be examining a series of charts that analyze housing growth rates, inflation-adjusted affordability levels, generational buying cycles, and a shift in debt priorities.

Saving a downpayment for a home in Canada has become increasingly difficult for first-time buyers. Many people in this situation turn to parents, family members and lenders for help. But the Canadian government offers some assistance, too, through tax savings for those that qualify.