09/09/2026
Canada’s Affordability Streak Hits 10 Quarters
We’ve now seen 10 consecutive quarters where housing affordability remains a challenge in Canada. As a real estate agent at Sutton Centre Realty, I’ve noticed that the conversation has started to shift: with less hope for mortgage rate relief in the near future, the focus is now squarely on home prices and income growth. Economists predict mortgage rates will likely stay steady or even rise over the next year, so any real progress in affordability will depend on how much home prices moderate. There’s a bit of a balancing act at play—slower population growth may help ease housing demand and put a lid on prices, while improvements in the labour market could boost household incomes. Of course, every local market tells its own story; Vancouver and Toronto are moving quite differently compared to Calgary and Edmonton, and I find that buyers and sellers need tailored guidance for each city’s conditions. For affordability gains to stick, we’ll need to see ongoing moderation in home prices, not just a stronger job market.