23 七月

Posthaste:WhyareU.S.citiesaregettingmoreaffordablewhileCanada’scitiesgetreallypricey?|FinancialPost

The report by Canadian think-tank Fraser Institute found that as housing in Canada’s biggest cities became less affordable between 2006 and 2016, it became more affordable in large cities in the United States that were also seeing rising populations and income growth.

“Many people make the assumption that when you have a growing, prosperous city, housing will inevitably become less affordable, and the evidence suggests otherwise,” said Steven Globerman, one of the authors of the report.

The study looks at housing costs as a share of income over the decade in 396 cities in Canada and the United States to determine affordability. In the 344 American cities housing affordability increased by an average of 10.5%; in the 52 Canadian cities it decreased on average by 7.6%.