Efforts to Improve Housing Affordability Expand Nationwide

Canada's housing affordability crisis is expanding beyond major cities to include Ottawa, Montréal, and Halifax. Homeownership affordability worsened in waves since 2001, with recent declines linked to remote work and labor mobility. Rental affordability has also tightened due to inflation and immigration. Construction is slowing, limiting new supply and delaying relief. While some markets show modest improvement, affordability remains strained and gains are expected to be gradual.