Despite Canada having a population just 12% the size of the United States, the country was home to a majority of the fastest-growing cities between the two neighbouring countries.
Between 2010 and 2022, real Canadian housing prices jumped 90%, making Canada one of the most expensive and unaffordable housing markets in the world.
This graphic shows real home price growth in real estate bubble markets over the last decade
In an effort to ease the housing shortage, the federal government is implementing new mortgage regulations, this time with an emphasis on encouraging the building of secondary suites.
The First Home Savings Account launched April 1st!
A first home savings account (FHSA) is a registered plan allowing you, as a prospective first-time home buyer, to save for your first home tax-free (up to certain limits). You will be able to open an FHSA starting April 1, 2023.
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