OUTLOOK2023 Housing affordability. Housing costs and availability rank as the top social/political issue among survey respondents this year, with homeownership costs for single-family homes now approaching 60 percent of household income. Some major markets, such as Toronto and Montreal, saw the largest net migration losses to other areas in their provinces in the past two decades. Discussions are increasing regarding REAL ESTATE CAPITAL MARKET BALANCE FORECAST the policy role that government could play in solving the shortage of affordable housing. Changes aimed at increasing the supply of denser housing forms such as duplexes, triplexes, and mid-rise apartment buildings may help. The industry also may play a role by finding ways to make construction more cost-efficient and developing public/private partnerships to deliver affordable housing. UL WINTER 2023 URBAN LAND 73