Housing in Canada is expensive due to a combination of factors, including high demand, limited supply, and low interest rates that have driven up property prices. Urban centers like Toronto and Vancouver have seen a surge in population growth, particularly from immigration, which increases demand for housing. At the same time, zoning laws and regulations often limit the development of new housing, restricting supply. Additionally, construction costs have risen, adding to the price of building new homes. Foreign investment, particularly in large cities, has also contributed to inflated prices. On top of this, low mortgage rates in recent years have made borrowing easier, encouraging more people to buy, further driving up demand. These factors, combined with the economic uncertainty and the lack of affordable housing options, have created a housing market that is out of reach for many Canadians, particularly first-time buyers.