Data analysis: Key figures and facts
In the vibrant city of Toronto, good news has emerged for homebuyers as monthly mortgage payments needed to afford a home have decreased by $112 between June and July. This reduction could make homeownership more accessible for many, offering a glimmer of hope in the often competitive Toronto real estate market.
Meanwhile, in Burlington, ON, on August 22nd, 2025, Storeys.com published a news article that sheds light on another encouraging development. Premier Doug Ford announced that Ontario will be investing an additional $1.8B in the Municipal Housing Infrastructure Program, bringing the fund's total to a substantial $4 billion. This significant investment is expected to bolster the province's housing sector, providing opportunities for more affordable housing options.
However, the struggle for affordable housing is not limited to homebuyers. According to recent statistics, approximately 49% of Canadian renters aged 18 to 24 are spending more than half of their after-tax income on rent. This underscores the need for comprehensive solutions to address the issue of housing affordability across the country.
The economic landscape also presents challenges for mortgage holders. In Q2, 1/37 of mortgage holders missed a credit payment, compared to 1/19 for non-mortgage holders. This trend highlights the financial pressure that homeowners, particularly those with mortgages, are facing.
In a recent survey, 28% of Canadians revealed that tariffs have caused them to reconsider taking out a mortgage. This suggests that economic factors beyond the local housing market can have a significant impact on homeownership decisions.
Premier Ford, known for his political leadership and policy decisions affecting the region, announced the additional $1.8 billion funding boost for the Municipal Housing Infrastructure Program in Ontario in August 2025. This investment is expected to contribute to a more affordable and accessible housing market in the province.
Furthermore, the Consumer Price Index increased by 1.7% year-over-year in July, with shelter prices up 3%. Despite this increase, the recent decrease in mortgage payments in Toronto offers a glimmer of hope for homebuyers in the city.
As we navigate these economic challenges, it is clear that comprehensive solutions are needed to address the issue of housing affordability. Whether through reduced mortgage payments, increased funding for housing infrastructure, or other measures, the goal remains to make housing more accessible and affordable for all Canadians.
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