Canadian home ownership costs will average 52.5 percent of household income this year, up from 38 percent in 2015, as the country faces a “housing crisis,” the federal housing department says.
“Middle-income households across the country are finding it increasingly hard to buy homes,” says the document, which was released by Canada’s housing department on April 30. “These households are often staying in rental housing longer, placing additional pressures on rental supply and increasing rental costs.”
