This is my viewpoint on housing affordability in Canada. In my opinion, the primary reasons for the current housing situation are as follows:
The Bank of Canada maintained the interest rate at very low levels for an extended period. This resulted in increased accessibility to housing for individuals with limited funds, thereby boosting demand.
Concurrently, emerging technologies like Airbnb provide homeowners with a convenient tool to rent their properties, generating a reasonable income. This encourages property owners to retain their properties instead of selling when acquiring new ones.
Increased immigration has also contributed to the unaffordability of housing, escalating demand from newcomers for both renting and owning properties.
