Canada has now seen 10 straight quarters where affordability remains a real challenge—and for many of my clients, the conversation is shifting. With mortgage rates expected to hold steady or even climb a bit in the coming year, economists say the path to better affordability will depend less on rate relief and more on home prices and income growth. Here in Brampton, I see firsthand how these national trends play out differently from city to city—Vancouver and Toronto markets have their own rhythm, while Calgary and Edmonton tell another story. What might help? Slower population growth could cool housing demand and put a lid on prices, while a stronger labour market is a positive sign for household incomes. But economists are clear: unless home prices see sustained moderation, any gains in affordability may be limited. Whether you’re a first-time buyer finding your way, a family moving up, or an investor watching the numbers, understanding these shifts is key to making confident decisions in a market that’s anything but predictable.
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