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.

Read the full story here…

For the latest information and for more updates on everything Kindersley,
‘Like’ the Kindersley Social Facebook page!

Related Articles

Back to top button