Terry Savage: Housing Affordability Is Becoming a Major Personal, Political Crisis

Terry Savage: Housing affordability is becoming a major personal, political crisis

It’s not your imagination that housing — whether you own or rent — is taking a bigger bite out of your income. The question is what you — and the government — can or should do about it.

Canadian Housing Agency Changes Definition of Affordability

Canada’s housing agency is updating its definition of affordability as the issue of unaffordable housing persists across the country. The agency says restoring affordability to levels experienced in the last two decades “isn’t realistic.” “As a result, we’re changing our aspiration to restoring affordability to levels seen just before the pandemic,” says a July 3 report by the Canada Mortgage and Housing Corporation (CMHC), which was first cover…