Trudeau's immigration policy worsening housing affordability crisis: Rosenberg — via financialpost
Home prices, meanwhile, are beginning to rise again and add more inflationary pressure since the ratio of population to housing stock is 40 per cent above historical norms, Rosenberg said.four per cent month over month, the third monthly gain in a row, bringing the average home price to $1.15 million, according to the Toronto Regional Real Estate Board.
Making matters worse is that Canadian household incomes are becoming increasingly stretched and the debt-to-income ratio has reached “record” levels of 180 per cent, he said.Article content For the housing market to normalize, home prices would need to correct by nearly 30 per cent, the central bank would need to bring the overnight policy rate down by two percentage points or incomes would need to swell 40 per cent, he said.
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