Soaring housing costs limiting population mobility across Canada: CMHC
- High housing costs are restricting population mobility in Canada, as Canadians are finding that it's too pricey to buy or rent in cities where they seek jobs.
- The federal housing agency reported that a one per cent increase of housing prices in a destination city leads to a corresponding one per cent decline in the number of people moving there.
- The inability to move due to high housing costs limits skill development and reduces economic growth in major cities, according to CMHC Deputy Chief Economist Aled Ab Iorwerth.
- Toronto could boost its population by three per cent if it doubled its housing starts over the next decade, as stated by CMHC's analysis.
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Total News Sources0
Leaning Left10Leaning Right1Center1Last UpdatedBias Distribution83% Left
Bias Distribution
- 83% of the sources lean Left
83% Left
L 83%
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