Just When Housing Got More Affordable… This Happened

Canada’s housing market is becoming more affordable, but just as buyers are getting some relief, a new set of risks is emerging. The latest RBC affordability data shows condo affordability nationally has improved all the way back to late-2019 levels, reversing much of the deterioration that followed the pandemic. Toronto and Victoria are now even more affordable than they were in 2019, while Vancouver is only a few percentage points away. Renters are also gaining ground. Average Canadian re...