VANCOUVER, B.C. (CU)_The housing crisis is still on-going in Canada and despite a host of promises made ahead of the federal election last month, policy makers and regulators have failed to tackle the situation, as many more potential buyers find themselves left out of one of the hottest housing markets. The situation has been rather critical in some of the most populous cities across the country, where growing demand continues to outstrip limited supply.
In the Greater Toronto Area, housing affordability went from bad to worse last month, as supply plunged to a record low. According to recent data published by the Toronto Regional Real Estate Board (TRREB), the average selling price of a home in the most populous metropolitan area in Canada, surged to…
