Canada Mortgage and Housing Corp. says the spread of affordability issues to real estate markets beyond Vancouver and Toronto will lead it to issue its first “red” warning for the national housing market. “CMHC has recently observed spillover effects from Vancouver and Toronto into nearby markets,” the federal Crown corporation’s president and CEO Evan Siddall said in a column published in the Globe
The impact of Vancouver’s famously high real estate prices on the home-ownership dreams of young people could affect the Canadian economy for decades to come, according to one housing policy expert. Scottish economist Duncan MacLennan will be one of the international panelists participating in the City of Vancouver’s re:address conference on housing affordability later this month. He
Multiple forces are fuelling the Vancouver area’s real estate market, and it is unclear how much impact foreign buyers may be having on prices, according to Canada’s federal housing agency. Low interest rates, robust population and employment growth, limited housing supply and the proximity of protected areas collectively known as the Agricultural Land Reserve are
