The new Federal Housing Minister recently stated that Canada home prices don’t need to come down — a claim that overlooks how much less affordable housing in Canada is compared to many other countries.
In addition to our Founder and CEO Hanif Bayat’s article Globe and Mail article, When exactly did Canadian housing become so unaffordable – and who’s to blame?, which compares home prices to disposable income in Canada, the U.S., and the U.K., there is plenty of evidence showing that Canada’s home price growth has been anything but healthy.
Above, you’ll find a comparison of inflation adjusted home price growth across G7 countries over the past 40 years — and as you might expect, Canada stands out with exceptionally high growth.
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