Affordability started recovering slightly since 2023, when it reached historical lows. For home ownership, we observed improved affordability, while for renters we saw stabilization over the last two years. Even with these improvements, we cannot overlook how much housing affordability has eroded in recent years, especially in Ottawa, Montreal and Halifax, clearly demonstrating that Canada's housing affordability crisis is no longer limited to Toronto and Vancouver.
That adds up to more than 15 hours less over the course of a year compared to 2019. Many South Florida workers may be experiencing slightly less time in traffic as they make their way to work and home again, but the region continues to have some of the nation's longest commute times.