Common Questions About Canada’s Housing & Consumer Economy

It’s really about supply meeting demand in each market. Toronto and Vancouver have limited land and strong immigration-driven demand, pushing prices way up. Meanwhile, cities like Winnipeg or Halifax have more available inventory and slower population growth, so prices stay more stable. Interest rates and local employment also play huge roles—a tech boom in one city can drive prices while another region stagnates.

In major markets, we’re seeing 35-45% of gross household income going to rent or mortgage—that’s well above the traditional 30% threshold that used to signal affordability trouble. Younger households in Toronto and Vancouver sometimes hit 50%+, which forces them to cut back on everything else: groceries, transportation, and savings.

Households are spending more cautiously than they were 2-3 years ago. Higher mortgage rates and rent increases have squeezed budgets, so we’re seeing shifts: less dining out, fewer discretionary purchases, but steady spending on essentials like groceries and utilities. Some segments are holding up better than others—dual-income households without recent mortgage renewals are still spending fairly freely.

We’re in a holding pattern rather than true stabilization. Prices have flattened in most major markets since the 2022-2023 peaks, but they haven’t returned to pre-pandemic levels. What happens next depends heavily on interest rate direction and immigration policy—if rates drop, we could see renewed appreciation; if they stay high, expect continued sideways movement.

That’s exactly why we break everything down by province and major metropolitan area. National averages can be misleading—what’s true for Vancouver rarely applies to Calgary. Our quarterly reports dive into regional specifics, and our team can help you interpret data for your particular city or neighborhood.

Our housing reports refresh quarterly, so you’re never more than a few months behind current market conditions. Consumer spending insights come out twice a year, aligned with Statistics Canada releases. For clients who need real-time tracking, we offer monthly data dashboards as part of our subscription service.