The Canadian Real Estate InvestorThe concerning decline in happiness among Canadians, particularly the youth, amidst a housing crisis that has significantly impacted affordability and well-being. Drawing insights from influential reports, we discuss the factors contributing to this trend and consider potential solutions, including the development of new cities to make housing more accessible.
- Canada has dropped in the world happiness index, with young Canadians (under 30) experiencing the steepest decline in satisfaction.
- Major cities like Toronto and Vancouver are among the least affordable in the world, with home prices soaring relative to income.
- Strategies for improving housing affordability may involve developing smaller cities to provide viable living options, rather than solely focusing on existing urban centers.
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