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Bank of Canada says housing affordability remains far off
Original: Canada is not close to restoring housing affordability, says central bank
Canada's central bank says the country is nowhere near restoring housing affordability. The assessment signals that officials see home prices and borrowing costs still far from levels typical Canadians can comfortably afford, with no quick fix expected despite recent interest rate movements and government housing measures.
Why now: Housing costs are a top economic and political concern in Canada, and a central bank judgment that affordability is far from restored will shape debate on rates and policy.
Evidence
- Canada is not close to restoring housing affordability, says central bank · Reuters
- Canada is not close to restoring housing affordability, says central bank · Fresno Bee
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