Canada's housing affordability improved for six quarters, with the national measure dropping to 53.6% in Q2 2025 from 63.5% in late 2023, aided by lower interest rates and steady incomes. However, gains are slowing due to fading rate cuts, slower income growth, and rising unemployment, especially in Ontario. Vancouver remains the least affordable city. Future improvements depend on home prices and income trends amid regional disparities and potential credit risks.
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