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Canadian home prices are stabilizing, but will incomes ever catch up?

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A new report from Ratehub.ca has found that the incomes Canadians need to be able to afford the average home price in the country's major cities continues to increase leaving many feeling home ownership is out of reach.

With rising interest rates and a high mortgage stress test, Ratehub's co-CEO says it's making it more difficult for people to qualify to buy a home.

Sean Previl breaks down the numbers and what some experts say is needed to improve the ongoing housing crisis.

For more info, please go to https://globalnews.ca/news/9899925/canada-housing-affordability-income/
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Category
U.S. & Canada
Tags
global news, Canada, Canada housing
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