The Canadian Property Bubble Reached The Point Where Few People Can Actually Buy
Canada’s property bubble is reaching the point where few people in the country can buy. Home price growth is still surging across the country, but sales are falling. The odd combination made us curious how many households can still afford to buy.
To the surprise of no Millennials, very few people can afford to buy anywhere across the country. We looked at the National Bank of Canada (NBC) affordability index for Q1 2021. Using their minimum income to carry a mortgage, we found less than a third of households can afford a home at these prices.
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Daniel Wong
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