Posthaste: Finding a home under $200,000 almost impossible in Canada's pricy housing market

Data shows that aspiring homebuyers who have been priced out of the most expensive cities have the best chance of finding a home in Atlantic Canada or the Prairies. Cape Breton, N.S., and Saint John, N.B., had the highest share of homes under $200,000 at 44.5 per cent and 36.6 per cent, respectively.

Meanwhile, back in Ontario, only three of the five biggest cities have homes for sale that cost less than $200,000, and their net numbers are even more disappointing. Hamilton, Ottawa and Toronto had only seven, five and two, respectively, at the time the data was gathered. In all, seven of the province’s 18 most expensive cities have no homes under that price point on the market. And for some of the cities that do, it’s a race against the clock. Merely two out of the 2,300 listings in Surrey have asking prices of less than $200,000 and only one in Abbotsford and Richmond.Article content

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