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Thursday, November 21, 2024
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Increasing unaffordability in Canada’s red-hot housing market a ‘national emergency,’ says NDP’s Kwan

Both the federal government and economists are watching housing prices closely after a massive spike in average home prices in March, with BMO’s chief economist Doug Porter saying June prices will likely be ‘miles above where they were a year ago.’

NDP MP Jenny Kwan, left, Bank of Canada Governor Tiff Macklem, centre, and Finance Minister Chrystia Freeland, right. In May, Mr. Macklem said 'counting on ever higher house prices to build home equity that can be used to refinance mortgages in the future is a bad idea.’ The Hill Times photographs by Andrew Meade
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BY MIKE LAPOINTE
July 7, 2021
News | BY MIKE LAPOINTE | July 7, 2021

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