An ‘emotionally exhausting’ housing marketpublished at 05:05 British Summer Time 21 September 2021
Dan Lytwyn
BBC News, Toronto, Ontario
Affordability has been a key election issue, especially for those voters looking to buy into Canada’s hot housing market.
I spoke with a prospective homebuyer in Toronto who commented on the realities his generation is facing.
“I’ve had friends who made 20 offers before they got their success,” said Ryan Birks, aged 36. “They had to take breaks, it was so emotionally exhausting.”
Two Canadian cities are among the top five least affordable cities in the world, according to a 2021 report by the Urban Reform Institute and Frontier Centre for Public Policy.
Vancouver was second behind Hong Kong in the study of 92 major markets around the globe. Toronto was ranked fifth behind Sydney and Auckland.