Sunday, 25 April 2021

Canadian Market: 1st-time home buyers being priced out


Global News shows that young people in Canada, who are hoping to buy their first home, are being shut out of the country’s hot housing market as prices for real estate soar.

In addition to a lack of supply, experts say they are not competing on a level playing field. Instead, young couples and families are competing with baby boomers who are downsizing and buying homes that would normally be reserved for the first-time buyer.

Anne Gaviola has more on the calls for politicians to step in and cool the market.

The continuum of affordable housing in Canada includes market (affordable rental housing, affordable home ownership), non-market (affordable rental housing, affordable home ownership), government-subsidized housing (emergency shelters, transitional housing and social housing).

A continuum is a continuous sequence in which adjacent elements are not perceptibly different from each other, although the extremes are quite distinct.

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