An interview with the Honourable Ahmed Hussen, Canada's Housing Minister and also the Minister of Diversity and Inclusion. Hussen previously served as the federal immigration minister. In this conversation, Hussen addresses our questions on the growing housing affordability crisis in Canada.
A recent report by RBC on future home affordability in Canada paints a grim picture. Homeownership is increasingly out of reach for many Canadians, especially in major cities like Toronto and Vancouver. Homeownership costs, in relation to the percentage of median household income, have hit an all-time high of 60%. The average price for a house in Toronto today is north of $1.1 million. Nationwide, it's over $700,000.