FTA: The unaffordable cities:
1- Richmond Hill, ON
2- Oakville, ON
3- Markham, ON
4- Vaughan, ON
5- Richmond, BC
6- Vancouver, BC
7- Toronto, ON
8- Milton, ON
9- Whitby, ON
10- Coquitlam, BC
11- Burlington, ON
12- Brampton, ON
13- Mississauga, ON
14- Burnaby, BC
15- Ajax, ON
16- Surrey, BC
17- Langley, BC
18- Oshawa, ON
19- Saanich, BC
20- Kelowna, BC
21- Abbotsford, BC
22- Guelph, ON
23- Hamilton, ON
24- Waterloo, ON
25- Cambridge, ON
26- Barrie, ON
27- Kitchener, ON
28- Ottawa, ON
29- London, ON
30- St. Catharines, ON
31- Montreal, QC
32- Windsor, ON
33- Kingston, ON
34- Halifax, NS
35- Greater Sudbury, ON
36- Longueuil, QC
And the affordable cities:
1- Edmonton, AB
2- St. John’s, NL
3- Regina, SK
4- Saguenay, QC
5- Trois-Rivières, QC
6- Quebec City, QC
7- Lévis, QC
8- Winnipeg, MB
9- Saskatoon, SK
10- Gatineau, QC
11- Calgary, AB
12- Sherbrook, QC
13- Terrebonne, QC
14- Laval, QC
It’s not going to fall out until they eliminate the principle residence tax exemption, and at the exact same time, put some actual restrictions, with teeth, around capital requirements to get a mortgage. Matched with rising rates, this wouldn’t pop the market, it would implode it. It would also hurt a whole bunch of innocent people, but honestly, it’s what it’s going to take. Probably will cause a pretty big recession too, because our GDP is so tied to the housing market now. But that’s what it’s going to take, and it sucks, but that’s the mess we are in…