While housing and rental prices continue to remain high, the Bank of Canada interest rate cut on July 24 is “a bit of a reason for optimism” from a poverty-reduction standpoint.

Meaghon Reid spoke with the Calgary Herald stating that “I think that will allow people to think in the future a little bit more than they have been. Particularly if you’re low-income, you tend to really just look at today."

Read the full article: More interest rate cuts could be on the horizon, but rates may not reach pre-pandemic levels: economists

While rental vacancy remains low and prices high, there is anecdotal evidence of positive progress. Meaghon Reid told the Calgary Herald that “At the beginning of this year, and all of last year, the tone of what we were hearing around looking for a house was panic . . . that I’m about to lose my place because the rent has increased so much."

Read the full article: Varcoe: As Calgary rent increases cool, sale of $1M homes heats up