CMHC Study Predicts That Montrealers Exodus to the More Affordable Houses in Suburbia Will Continue

A study by the Canada Mortgage and Housing Corporation (CMHC) found that It’s now easier and cheaper to live in Montreal’s suburbs.

According to the Montreal Gazette, those aged 25 to 44 who left Montreal for a single-family home in Laval or the South Shore in 2016 saw their monthly mortgage payments drop by roughly $485, while those who travelled further to the North Shore saved around $650 a month.

Despite, travel expenses offsetting mortgage savings to the tune of approximately 50 per cent, the CMHC predicts the exodus will continue as long as Montreal home prices remain unaffordable for most.