top of page
  • Writer's picturePopCan

RBC warns on 'worst-ever affordability' ahead for homeowners

BNN: 'Housing affordability in Canada was at its worst level in 31 years at the end of 2021, according to RBC Economics, which is warning that there’s no relief in sight for the country’s already-stretched homeowners. Almost half of median pre-tax household income (49.7 per cent) would have been required to cover mortgage payments and other costs tied to owning a home, on an aggregate basis, in Canada in the fourth quarter of last year. That was an increase of 7.5 per cent from a year earlier and almost nine percentage points higher than the average since 1985, according to a report released Wednesday.

'Affordability was even more daunting for the owners of single-detached homes, which RBC estimates would have chewed up 54.6 per cent of median pre-tax household income.'

0 views0 comments

Recent Posts

See All

MSN: 'Russian energy giant Gazprom says it has suspended gas supplies to Latvia - the latest EU country to experience such action amid tensions over Ukraine. Gazprom accused Latvia of violating condit

JCCF: 'The Justice Centre regrets to announce that the Ontario Superior Court of Justice has postponed the constitutional challenge to the Ontario government’s now-cancelled vaccine passport mandates.

bottom of page