Why there is no easy fix to Canada's skyrocketing cost of housing

More Canadians are spending more of their income on housing, as it now takes 63 per cent of the median family income to own a home in Canada, according to RBC Economics. That number is much higher than what most financial experts consider “affordable”: 30 per cent. The federal government has responded by unveiling a variety of new programs and spending announcements in recent months. But as Mackenzie Gray explains, the factors causing rising costs are not easy to fix. For more info, please go to https://globalnews.ca Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc Like Global News on Facebook HERE: http://bit.ly/255GMJQ Follow Global News on Twitter HERE: http://bit.ly/1Toz8mt Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB #GlobalNews #housing #housingaffordability #housingmarket