Canada has four of the 10 most affordable and four of the least affordable cities in North America
Vancouver has been a presence on various lists of least-affordable housing for years, and now tops a survey released this month by Oxford Economics considering North America’s most expensive cities.
The group’s Housing Affordability Indices report concludes that “affordability deteriorated in nearly all U.S. and Canadian metros” in the second quarter of 2021. A typical Canadian house price hit 35 per cent above the borrowing capacity of median-income households, and in fact, results show a “more rapidly worsening affordability in Canada than in the U.S.,” Oxford says.
