OTTAWA, Dec 21 (Reuters) - Municipalities should rezone broadly to allow more  density and Canada should temporarily ban foreign buyers to help alleviate the housing affordability crunch faced by residents, the country's housing minister said on Tuesday. Ahmed Hussen told Reuters in an interview that housing should be for Canadians to live in, not passive foreign investment, and that he backs Canadian cities implementing density measures like those recently rolled out in New... [read more]

"The specter of a global recession has haunted housing markets for years. Yet in the midst of the current pandemic-triggered shock, this fear has so far turned out to be unfounded. Despite the sharpest global economic downturn in more than 60 years, house prices have actually accelerated in the last four quarters. Several puzzle pieces had to fall into place for house prices to avoid plummeting in such an environment. Governments have compensated many potential home buyers for their... [read more]

According to a newly-released Housing Affordability Report from the National Bank of Canada, you currently need to have an annual household income of at least $178,499 to afford a "representative home" in the Toronto market. "Housing affordability in Canada improved in the fourth quarter of 2020, marking a third amelioration in a row," reads the report, released on Wednesday. "That said, the improvement this quarter was much less impressive. Higher... [read more]