Budget Watchdog Finds Gains in Housing Affordability, but Some Areas Still Struggling

Budget Watchdog Finds Gains in Housing Affordability, but Some Areas Still Struggling
A real estate sign is posted outside a home in Pointe-Claire, a city in Montreal's West Island, on May 7, 2024. The Canadian Press/Christinne Muschi
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Ottawa’s financial watchdog is reporting considerable progress in narrowing the national housing affordability gap, but the situation appears markedly different throughout the country.

Canada’s housing gap shrank from 80 percent in September 2023 to 34 percent in August thanks to reduced borrowing costs, increased wages, and declining home prices, an updated housing report from Parliamentary Budget Officer Jason Jacques found.