The pandemic created upward pressure on housing and recent increases in interest rates are pushing affordability even further away for some. The OECD now ranks Canada as having the most expensive housing market among all other G7 countries.
Our guests this episode explore how we got to this point and what if anything can be done to create a more affordable housing market. They share that not only are housing prices forecasted to continue to rise, but that the affordability crisis is extending deep into the rental markets. This is further deepening the crisis and creates greater pressure for near and long-term solutions.
About our guests:
Tony Bonen is the Director of Economic Research at The Conference Board of Canada. In this role Tony provides strategic leadership to a dynamic team producing insightful custom analyses for the Board’s partners. He collaborates across disciplines and Focus Areas to ensure the Boards economic research is meaningful for leaders across Canada.
Tony brings significant experience managing research and providing guidance on a wide range of economic issues. Prior to joining the Board, he served as the Executive Director at the Labour Market Information Council (LMIC), building on his previous work as LMIC’s founding Director of Research, Data and Analytics. While in the risk department at the Canada Mortgage and Housing Corporation (CMHC), Tony led the development of housing price and macroeconomic forecasts used in stress testing. He analyzed the economic impacts of climate change and the US pension and retirement system at the Schwartz Center for Economic Policy Analysis, and the economic policy and geopolitical analysis affecting member countries while at the NATO Parliamentary Assembly.
John Pasalis is the President of Realosophy Realty, a Toronto real estate brokerage. A frequent commentator on the Toronto housing market, John has contributed to the Globe and Mail, BNN Bloomberg, the Wall Street Journal and other media, government and industry organizations. His research has been shared with the IMF and Statistics Canada and cited by the Bank of Canada and CMHC.
John holds a B.Sc. in Economics from the University of Toronto, an MSc in Business and Management Research from the University of Reading and is currently completing a Doctor of Business Administration at the University of Reading and the University of Toronto.