Canada is in the midst of what is (so far) the second-worst price decline for inflation-adjusted home prices going back to 1975.

The worst was in the 1980’s with a peak to trough decline of 31%. Today’s decline is sitting at 28% as of December 2025.

I updated my historical Canadian rent versus own analysis with 2025 data across twelve Canadian cities. The results challenge the narrative that owning a home is always a wise financial decision.