Several factors hurting Canadian housing, broker says

As housing prices climb and the dream of owning a home fades even further for many Canadians, a real estate broker says there are many factors driving up the prices.

For one, supply is critically low, said Nasma Ali, founder and broker at One Group.

“There’s a lot of factors that come into play when we have a very low supply,” she told BNN Bloomberg Thursday.

The Canada Mortgage and Housing Corporation reported housing starts for the month of May dropped 23 per cent compared to a month prior and the annual rate of urban starts fell 30 per cent.