The Bank of Canada thinks housing is still pretty cheap

Todd Korol/Reuters Turns outhousing may be affordable, at least by one measure. While home prices have been climbing in Toronto and Vancouver, people that didn’t buy into the madness seem just fine. The Bank of Canada (BoC) Housing Affordability Index shows that the cost of housing across Canada is below historic norms. We were just as confused as you are right now. The Indicator Reads Below The Average The Housing Affordability Index is how the BoC gauges affordability of housing in Canada. I...