Analysis: The challenges in finding a place to live have grown so much — and so quickly — that people who haven't been actively looking for a new home might not recognize what it's like these days.
"There's kind of two solitudes in Canada," he said.
Other data suggest a growing number of people are becoming house poor, devoting so much of their money to basic shelter costs that it leaves little — or nothing — left for everything else. Average monthly mortgage payments for first-time homebuyers in Alberta grew by 33 per cent in the past year, according to Equifax data.
"Because let's face it, when your car insurance comes up for renewal and you're used to paying it annually, and all of a sudden there's the bill and it's: 'How are we going to pay this? 'Cause my mortgage payment just went up $800.
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