Canadian Housing Shows Cracks: Prices Slide, Rents Ease, But Affordability Remains Out of Reach

Toronto and Vancouver just hit rock bottom in global housing rankings, but that's actually good news for buyers. UBS ranks them the two weakest housing markets worldwide, with inflation-adjusted prices down about 10% year-over-year. Toronto has plunged 30% from its peak, Vancouver 20%—creating the most buying opportunity in years.

The Bear Case

Despite falling prices, renters are still drowning. National rent averages $2,051/month—down only 2.1%...