Dollars and SenseNationalNews
What it Takes to Buy A House In the Canadian Housing Market
Source: Craig Lord Global News, May 28, 2022
The inability for younger Canadians to break into the market is a familiar story.
Signs that the Canadian housing market might be cooling are coming too late for many prospective homebuyers, as their ability to save for a home is dampened by inflation and rising interest rates limit their ability to catch up to the high home prices that marked the COVID-19 pandemic.
The first quarter of 2022 saw the worst decline in housing affordability nationwide in 27 years, according to a report released Wednesday from National Bank of Canada, with rising mortgage rates pegged as a key factor sidelining would-be buyers.
For the latest information and for more updates on everything Kindersley, download our app!
App Store coming soon!
Google Play and the Google Play logo are trademarks of Google LLC.
