{"id":35107,"date":"2025-02-06T14:00:00","date_gmt":"2025-02-06T19:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=35107"},"modified":"2025-02-06T11:49:54","modified_gmt":"2025-02-06T16:49:54","slug":"how-the-cost-of-living-is-shaping-housing-trends-in-major-cities-in-canada-and-the-u-s","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/how-the-cost-of-living-is-shaping-housing-trends-in-major-cities-in-canada-and-the-u-s\/","title":{"rendered":"How the Cost of Living is Shaping Housing Trends in Major Cities in Canada and the U.S"},"content":{"rendered":"\n

The cost of living has always been a significant factor in shaping housing markets, but it has had an even more pronounced effect in recent years. Rising inflation, stagnant wages, and growing demand for urban spaces have all contributed to a dynamic shift in how people live and where they choose to live, especially in major cities across Canada and the U.S.<\/p>\n\n\n\n

As housing costs continue to soar, here\u2019s how the cost of living is changing how we live.  <\/p>\n\n\n\n

People Are More Stressed About Making Ends Meet <\/h1>\n\n\n\n

The National Association of Realtors<\/a> shows that in the last half of 2024, single-family existing home prices were up in 87% of metro areas\u2014196 out of 226, to be exact. According to NAR Chief Economist Lawrence Yen, “A typical homeowner accumulated $147,000 in housing wealth in the last five years.”<\/p>\n\n\n\n

While that\u2019s great for long-term investment, it doesn\u2019t exactly help with everyday expenses. Many households feel the squeeze, struggling to make ends meet as inflation keeps prices high. A Pew Research Center survey found that nearly 74% of Americans worry about rising food and essentials costs<\/a>. But it’s not just grocery bills causing stress\u2014housing costs are a growing concern, too. Last year, 69% of Americans reported anxiety over housing expenses, up eight percentage points from 2023.<\/p>\n\n\n\n