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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
The Bank of Canada says the country is not close to restoring housing affordability, according to reporting carried by Reuters and other outlets. The statement comes as high interest rates and a persistent supply shortage keep home prices and rents elevated across much of the country, leaving buyers and renters struggling despite signs of cooling in the housing market.
Why now: Housing costs remain a top concern for Canadians, so a central bank assessment that affordability is far from restored is drawing wide attention.
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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